Global EV market continues growing in January 2025

A new global EV market analysis just dropped, showing a healthy 18% year-on-year growth in sales throughout January 2025. That's still a 30% drop compared to December 2024, but that's to be expected.

Sales go down after the holiday season and the phenomenon was in full effect last month in China where sales were down 43% compared to December 2024, but still up 12% year-on-year.

In Europe and the US/Canada, sales were up 21% and 22% year-on-year and down 19% and 28% month-on-month, respectively. Germany saw the biggest growth in Europe compared to January 2024, with a 50% increase in sales, while France saw a 15% drop. That's because France announced a new weight tax on PHEVs that went into effect in January, so buyers were quick to snatch a new EV in December last year.

Analysts are quick to point out that despite the rise in sales in US and Canadian EV markets, the year ahead is wrapped in uncertainty with the ongoing trade war that the new Trump Administration is waging against its trade partners. January sales were unbothered by the new tariffs, but they will likely have a big impact in the coming months.

Source | Via