London-based Rho Movement simply dropped the most recent numbers on international EV gross sales for January 2025, and right here’s the headline: 1.3 million electrical autos have been bought worldwide. That’s down by greater than a 3rd from December’s record-breaking numbers, however don’t let that idiot you – January 2025 nonetheless noticed an 18% bounce in comparison with the identical month final yr.
The worldwide image
International EV gross sales are off to a strong, if not spectacular, begin in January 2025. Whereas China’s numbers took a predictable dip post-holiday rush, Europe is choosing up steam, and North America is seeing regular development. Right here’s how the foremost markets shook out in January:
- International: 1.3 million EVs bought (+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)
- Remainder of the world: 0.13 million (+50% y-o-y, -4% m-o-m)
Rho Movement information supervisor Charles Lester weighed in on what’s behind these numbers:
With emission requirements coming into drive for European producers this yr, all eyes are on the opening month for the area, which reveals encouraging development at 21% in comparison with the identical time final yr.
The Chinese language market, as anticipated, shrunk 43% from the earlier month as drivers are inclined to go all in on the finish of the yr earlier than the Chinese language New Yr public holidays fall in January and February.
The US and Canada market hasn’t but been impacted by the brand new occupant of the White Home and is displaying a constant year-on-year enhance of twenty-two%. All in all, an uncontroversial begin to the yr for the EV market globally, although this isn’t going to stay that means for lengthy.
Europe: A powerful begin, however challenges forward
The EU, EFTA, and the UK kicked off the yr with a strong 21% enhance, promoting over 250,000 EVs in January. That’s the sort of momentum European automakers have to hold as much as keep away from hefty fines underneath the 2025 emission requirements.
Germany led the cost, with EV gross sales leaping over 40% year-over-year, and BEVs particularly noticed over 50% development. However not each nation had a easy begin. France, for instance, took an enormous hit, with gross sales dropping 52% in comparison with December and 15% year-over-year. The explanation was a brand new weight tax on plug-in hybrids (PHEVs) that went into impact in January, triggering a rush to purchase in December earlier than the brand new guidelines kicked in.
China: A predictable dip, however nonetheless rising
China’s EV gross sales have been up 12% in comparison with final January, thanks partially to the continued nationwide automobile trade-in scheme. Nevertheless, gross sales dropped 43% in comparison with December, which is typical for this time of yr. The Chinese language New Yr vacation all the time slows down automobile gross sales in January and February, and with the vacation falling principally in February this yr (identical to in 2024), anticipate one other weak month earlier than numbers choose up once more.
US & Canada: A gentle climb with uncertainty forward
North America noticed a strong 22% bounce in EV gross sales in comparison with January 2024, with 130,000 models bought. Nevertheless, that’s nonetheless a 28% drop from the December 2024 rush.
Regardless of issues over Trump’s return to the White Home, the federal EV tax credit score – as much as $7,500 – continues to be obtainable for a lot of BEVs and one PHEV. Nevertheless, the necessities bought more durable in 2025, with stricter sourcing guidelines for vital EV battery supplies. Some EV fashions misplaced their eligibility, and that’s anticipated to place some stress available on the market because the yr unfolds.
Learn extra: BYD’s abroad gross sales surged to a brand new file as its international EV plans kick into excessive gear
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