Global EV sales rise by 18% in January

• Published On: 12 February 2025 at 20:12

According to Rho Motion, global sales of electric and plug-in hybrid vehicles increased by 18% year on year in January, marking the first time since February 2023 that growth in Europe and the United States outpaced China.

The European market had a strong start to the year as new CO2 emission targets were implemented across the European Union. Meanwhile, China's EV sales fell 43% from December due to the Lunar New Year holiday, according to Rho Motion data manager Charles Lester.

Governments around the world are implementing a variety of policies to encourage EV adoption, but trade tensions and slowing auto markets threaten job losses and plant closures. To support EV demand and stimulate economic growth, China extended vehicle trade-in subsidies until 2025 in January.

Meanwhile, European regulators launched new consultations on emission targets, inviting industry stakeholders to help shape future policies.

Global electric vehicle sales increased 17.7% year on year to 1.3 million units in January, with Europe and North America outpacing China for the first time in nearly a year.

China, the largest EV market, saw sales increase by 11.8% to 700,000 units, despite a 43% month-on-month decline due to the Lunar New Year holiday. To keep demand stable, the government extended auto trade-in subsidies.

Sales in Europe increased 21% to 250,000 units, boosted by new CO2 targets. France's sales fell 52% due to a new weight tax, while Germany saw a 40% increase following a subsidy cut in early 2024.

North American sales increased by 22.1% to 130,000 units, while the rest of the world saw a 50% increase.

However, global EV sales fell 35% month after month, owing primarily to China's sharp decline.