Overview

• Global electric vehicle sales reached 7.2 million units through May, marking a 28% increase year over year, according to Rho Motion.
• China sold a record 1 million electric vehicles in May alone, a 33% rise from the same month last year and a 10% gain compared to April.
• Europe’s EV market grew 27% year to date with 1.6 million vehicles sold and saw double-digit gains in Germany, Spain and Italy supported by new commercial fleet incentives in Germany.
• North American sales rose just 3% through May as Canada’s subsidy pause triggered a 20% drop and U.S. growth of 4% is sustained by federal tax credits set to phase out by 2026.
• Automakers face a 25% U.S. import tariff that has prompted many to withdraw their 2025 outlooks, while Chinese rival BYD rapidly expands its battery-electric and plug-in hybrid offerings in Europe.