The global PHEV and REEV market continues to flourish, with combined sales in all analyzed markets surpassing the one million mark for the first time in any first quarter. China registered nearly 70% of those sales, after enjoying PHEV and REEV sales growth of 76.7% in the first quarter of 2024 compared with the same period last year. China was not the only major market to record significant PHEV growth. In the United States, PHEV sales increased 69.7% in Q1 2024 vs. Q1 2023. Sales of hybrids
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