The global electric vehicle (EV) market continues to show strong growth, with 9.1 million EVs sold worldwide in the first half of 2025, marking a 28% increase compared to the same period last year. However, the pace of growth varies across different regions.
China and Europe are leading the way in EV adoption. More than half of the world’s EVs this year were sold in China, where sales reached 5.5 million in the first six months of 2025, representing a 32% increase year-over-year. In Europe, 2 million EVs were sold during the same period, with sales up 26%. The rise in sales can be attributed to the increasing availability of affordable models like the Renault 4 and 5 entering the market.
In Europe, Spain has seen a significant increase in EV sales, with an 85% surge so far this year. This growth is supported by Spain’s generous MOVES III incentive program, which was extended in April. The UK and Germany are also experiencing solid growth in EV sales, with increases of 32% and 40%, respectively. However, France has seen a decline in EV sales following subsidy cuts.
On the other hand, North America is facing challenges in accelerating EV adoption. EV sales in the US, Canada, and Mexico have only increased by 3% so far this year. In the US, the recent end of the Inflation Reduction Act EV tax credits is expected to impact sales, as over half of the EVs sold in the country this year qualified for those credits. The removal of these subsidies is predicted to lead to a rush in sales in the third quarter followed by a decline.
Overall, the global snapshot of EV sales in the first half of 2025 compared to the same period in 2024 shows a positive trend. China and Europe are driving the growth in EV adoption, while North America is facing challenges in accelerating sales. The future of the EV market will likely be shaped by government policies, incentives, and the availability of affordable EV models.
