Credit Suisse analyst Dan Levy shared vital takeaways from May EV sales. Global EV penetration was 13% in May, up ~150bp M/M, above the YTD '22 pace and well ahead of the 2021 EV penetration rate.
All regions saw M/M EV uptake improvements except for China. However, it remained the global leader, and the M/M decline was likely a function of normalizing production as China lifted COVID restrictions.
