London-based Rho Movement simply dropped the most recent numbers on world EV gross sales for January 2025, and right here’s the headline: 1.3 million electrical automobiles have been offered 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 12 months.
The worldwide image
World 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 progress. Right here’s how the most important markets shook out in January:
- World: 1.3 million EVs offered (+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 knowledge supervisor Charles Lester weighed in on what’s behind these numbers:
With emission requirements coming into pressure for European producers this 12 months, all eyes are on the opening month for the area, which exhibits encouraging progress at 21% in comparison with the identical time final 12 months.
The Chinese language market, as anticipated, shrunk 43% from the earlier month as drivers are likely to go all in on the finish of the 12 months earlier than the Chinese language New 12 months 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 exhibiting a constant year-on-year improve of twenty-two%. All in all, an uncontroversial begin to the 12 months for the EV market globally, although this isn’t going to stay that means for lengthy.
Europe: A robust begin, however challenges forward
The EU, EFTA, and the UK kicked off the 12 months with a strong 21% improve, promoting over 250,000 EVs in January. That’s the form of momentum European automakers must maintain as much as keep away from hefty fines beneath the 2025 emission requirements.
Germany led the cost, with EV gross sales leaping over 40% year-over-year, and BEVs particularly noticed over 50% progress. 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 rationale 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 partly to the continued nationwide automotive trade-in scheme. Nonetheless, gross sales dropped 43% in comparison with December, which is typical for this time of 12 months. The Chinese language New 12 months vacation all the time slows down car gross sales in January and February, and with the vacation falling principally in February this 12 months (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 items offered. Nonetheless, 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 out there for a lot of BEVs and one PHEV. Nonetheless, the necessities obtained more durable in 2025, with stricter sourcing guidelines for important EV battery supplies. Some EV fashions misplaced their eligibility, and that’s anticipated to place some strain available on the market because the 12 months unfolds.
Learn extra: BYD’s abroad gross sales surged to a brand new file as its world EV plans kick into excessive gear
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