The global electric vehicle (EV) market continues to grow rapidly
.According to new figures from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of the year, representing a significant 28% increase compared to the same period last year.
However, it’s important to note that not all regions are experiencing the same level of acceleration. In June, global sales of electric and plug-in hybrid vehicles experienced a notable jump of 24% compared to the previous year.
This surge in sales can be attributed to the continued momentum of the electric vehicle market in China and Europe. Despite these positive developments, the global EV market faces challenges in certain regions. For instance, EV sales in the United States experienced a slight decline of 1% in June and are expected to struggle to regain momentum this year. This decline can be attributed to President Donald Trump’s spending bill, which cut tax credits sooner than anticipated.
North America, which also includes Canada, has lagged behind the “rest of the world” countries, including emerging markets in Southeast Asia and South and Central America, for the first time. This lag can be attributed to slowing sales in Canada. The implications of these regional variations are significant for global automakers.
The United States, the world’s second-largest car market, faces a 25% import tariff, which has prompted many automakers to withdraw their outlooks for 2025.
In Europe, incentives for retail and fleet buyers in key markets like Germany and Spain, coupled with the increasing availability of affordable electric vehicles (EVs), are expected to boost electric car sales throughout the second half of the year.
While European carmakers like Volkswagen and Renault are producing some of the most successful EVs in the small vehicle segment, Chinese brands such as BYD are gaining market share on the continent and driving growth in emerging markets.
BY THE NUMBERS
According to Rho Motion data, global sales of battery-electric vehicles and plug-in hybrids reached 1.8 million units in June.
China experienced a significant jump, with sales rising by 28% from the same month last year to 1.11 million vehicles.
Europe also saw a substantial increase, posting a 23% rise to approximately 390,000 units. Conversely, North American sales declined by 9% to over 140,000 vehicles.
In contrast, sales in the rest of the world surged by 43%, surpassing 140,000 vehicles. on vehicles.
Sources: Reuters, Electrek and Rho Motion.
