Down from Q4 2023 While annual EV sales continue to rise, the growth rate has slowed significantly with sales down 15.2 percent from Q4 2023 but up 2.6 percent year over year in Q1. Last quarter's profit was significantly lower than the previous two years, as the research company cited above pointed out. Similarly, new car sales in Europe fell for the first time in March this year due to a decline in EV registrations and timing. A recent report by the European Automobile Manufacturers Association (ACEA) in the European Union (EU) highlighted that sales of new electric vehicles fell 11.3 percent to 134,397 units in March during the Easter holidays. This decrease was mostly due to a 29 percent decline. EV sales have slowed down in Germany, Europe's biggest market, amid sluggish demand for EVs. Sales of hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) have been picking up in the US in the last few months. As claimed in the article What's Happening in India, according to a report by JMK Research & Analytics India Traveler, EV sales in India are witnessing a surge as the market has recorded a significant increase in sales, Which has crossed 1.7 million units in the financial year 2024.Vehicle sales are projected to grow 10 percent year-on-year in 2023, while the country's electric vehicles (EV) sales are set to double to 2 percent of total PV sales. According to market research firm, Counterpoint Research, the country's e-sales are projected to grow. to 66 percent in 2024, and their market share in the passenger car segment will double from 2 percent to 4 percent in 2023. Additionally, it is estimated that EV sales will account for one-third of all PV sales in India.