Global EV sales surge 18% y-o-y – but speed bumps lie ahead

London-based Rho Motion just dropped the latest numbers on global EV sales for January 2025, and here’s the headline: 1.3 million electric vehicles were sold worldwide. That’s down by more than a third from December’s record-breaking numbers, but don’t let that fool you – January 2025 still saw an 18% jump compared to the same month last year.

The global picture

Global EV sales are off to a solid, if not spectacular, start in January 2025. While China’s numbers took a predictable dip post-holiday rush, Europe is picking up steam, and North America is seeing steady growth. Here’s how the major markets shook out in January:

• Global: 1.3 million EVs sold (+18% year-over-year, -35% from December 2024)
• China: 0.7 million (+12% y-o-y, -43% m-o-m)
• EU, EFTA & UK: 0.25 million (+21% y-o-y, -19% m-o-m)
• US & Canada: 0.13 million (+22% y-o-y, -28% m-o-m)
• Rest of the world: 0.13 million (+50% y-o-y, -4% m-o-m)

Rho Motion data manager Charles Lester weighed in on what’s behind these numbers:

With emission standards coming into force for European manufacturers this year, all eyes are on the opening month for the region, which shows encouraging growth at 21% compared to the same time last year.

The Chinese market, as expected, shrunk 43% from the previous month as drivers tend to go all in at the end of the year before the Chinese New Year public holidays fall in January and February.

The US and Canada market hasn’t yet been impacted by the new occupant of the White House and is showing a consistent year-on-year increase of 22%. All in all, an uncontroversial start to the year for the EV market globally, though this is not going to remain that way for long.

Europe: A strong start, but challenges ahead

The EU, EFTA, and the UK kicked off the year with a solid 21% increase, selling over 250,000 EVs in January. That’s the kind of momentum European automakers need to keep up to avoid hefty fines under the 2025 emission standards.

Germany led the charge, with EV sales jumping over 40% year-over-year, and BEVs specifically saw over 50% growth. But not every country had a smooth start. France, for example, took a big hit, with sales dropping 52% compared to December and 15% year-over-year. The reason was a new weight tax on plug-in hybrids (PHEVs) that went into effect in January, triggering a rush to buy in December before the new rules kicked in.

China: A predictable dip, but still growing

China’s EV sales were up 12% compared to last January, thanks in part to the ongoing national car trade-in scheme. However, sales dropped 43% compared to December, which is typical for this time of year. The Chinese New Year holiday always slows down vehicle sales in January and February, and with the holiday falling mostly in February this year (just like in 2024), expect another weak month before numbers pick up again.

US & Canada: A steady climb with uncertainty ahead

North America saw a solid 22% jump in EV sales compared to January 2024, with 130,000 units sold. However, that’s still a 28% drop from the December 2024 rush.

Despite concerns over Trump’s return to the White House, the federal EV tax credit – up to $7,500 – is still available for many BEVs and one PHEV. However, the requirements got tougher in 2025, with stricter sourcing rules for critical EV battery materials. Some EV models lost their eligibility, and that’s expected to put some pressure on the market as the year unfolds.

Read more: BYD’s overseas sales surged to a new record as its global EV plans kick into high gear

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