Global EV Sales Grow 18% in January Despite Regional Challenges

Electric vehicle sales continued to rise year-over-year, but market dynamics varied across regions with notable monthly declines in China and Europe.

Global electric vehicle sales reached 1.3 million units in January 2025, marking an 18% increase compared to January 2024, despite a 35% drop from December's record numbers.
China, the largest EV market, experienced an expected 43% monthly decline due to the Lunar New Year holiday but still saw a 12% year-over-year growth in January.
European EV sales rose 21% year-over-year, driven by new CO2 emission standards, though some markets like France faced declines due to new taxes on plug-in hybrids.
North America reported a 22% year-over-year increase in EV sales, though stricter U.S. federal requirements for EV battery material sourcing may impact future growth.
Battery technology advancements and declining costs are expected to accelerate EV adoption globally, with price parity with gasoline vehicles becoming increasingly achievable.