New Delhi: Global electric-car sales fell for the first time in modern history in July after China scaled back purchase subsidies, highlighting the role government assistance is having on the burgeoning market. Monthly sales worldwide fell 14% to about 128,000 plug-in passenger electric vehicles (EV), research firm Sanford Bernstein said. While sales fell in China and North America, it rose in Europe. China’s government scaled back funding for individual purchases of new-energy vehicles starting June 26 to encourage carmakers to focus on product innovation. At the same time, growth in China, the biggest producer and market for electric vehicles, is slowing down as a reduction in EV subsidies and a cooling economy weigh on consumers’ buying decisions.
