Global sales of electric and plug-in hybrid vehicles are projected to exceed 20 million in 2025, achieving at least 17 percent growth, aided by China’s extension of auto trade-in subsidies.
In 2024, EV sales in China surged 40 percent to 11 million, with further increases anticipated, bolstering its global dominance. Chinese-made EVs have captured over 80 percent of the market in Latin America and are expected to expand further in Asia-Pacific and emerging markets, research firm Rho Motion forecast indicated in its report.
Electric vehicle sales 2025 predictions vs 2024
Global: over 20 million, +18%
China: 12.9 million, +17%
EU & EFTA & UK: 3.5 million, +15%
USA & Canada: 2.1 million, +16%
Europe, the second-largest EV market, is forecast to see 15 percent sales growth from 3 million units sold last year, supported by CO2 emission targets and the introduction of cheaper models.
Carmakers in the EU risk fines of €10 billion for missing emissions targets despite buying credits, a reduction from prior estimates of €15 billion.
In the U.S., EV sales are expected to grow 16 percent in 2025, though policy changes under President Donald Trump could lead to a potential 47 percent decline in EV battery demand by 2040. Despite uncertainties, the shift to electric vehicles continues, with steady growth anticipated over the next decade.
GreentechLead.com News Desk