Global EV sales projected to rise 30% in 2025
China remains the leader in EV adoption, with electric cars expected to make up 29.7% of the market in 2025. But the pace of growth in China is slowing, with an expected year-on-year increase of 20%.
Global electric vehicle (EV) sales are projected to grow 30% year-on-year (YoY) to 15.1 million units in 2025, representing 16.7% of global light vehicle sales, which are expected to reach 89.6 million units (+1.7% YoY).
These compare to an estimated 11.6 million units and 13.2% market share in 2024, according to automotive intelligence company S&P Global Mobility.
In the United States, EV sales are predicted to rise 36%, with a 11.2% market share. However, the growth will depend on government policies, including potential changes to EV tax credits and tariffs under the incoming Trump administration.
China remains the leader in EV adoption, with electric cars expected to make up 29.7% of the market in 2025. But the pace of growth is slowing, with an expected year-on-year increase of 20%.
Though new energy vehicle (NEV) penetration in China (as a percentage of passenger vehicles) is projected to increase from 49% this year to 58% in 2025, NEVs by China’s definition include plug-in hybrid (PHEV) and fuel-cell vehicles.
EVs are set to outsell internal combustion engine vehicles in China for the first time in 2025.
Analysts at S&P Global Mobility also forecast a 117% EV growth in India in 2025 to 7.5% market share (of light vehicles). In Europe, EV sales are projected to increase by 43%, with a 20.4% market share.
In Japan (+5.4% to 4.6 million units in 2025), the prospect of US universal tariffs and weaker global economic conditions could impact the country’s exports.
