Global electric vehicle sales exceeded 4.1 million in the first quarter, a year-on-year surge of 29%! Since the beginning of 2025, European electric vehicle sales have steadily increased by 22% to 900,000 units, mainly driven by pure electric vehicles (BEVs), whose sales have increased by 27%. Germany’s pure electric vehicle market has grown by 37%, Italy has soared by 64%, and the UK’s monthly electric vehicle sales in March exceeded the 100,000 mark for the first time, setting a record high for new car registrations. However, seriously affected by the reduction in government subsidies, France’s electric vehicle sales fell by 18%, pure electric vehicle sales fell by 5%, and plug-in hybrid vehicle (PHEV) sales fell sharply by 47%.
North American electric vehicle market sales in the first quarter of 2025 increased by 16% year-on-year to 500,000 units, but policy uncertainty shrouds the market outlook. How to troubleshoot the drive motor?The Trump administration has recently introduced a series of tariff measures: a 25% tariff on imported cars from Canada and Mexico will be imposed in February, and further expanded to all imported car categories in March. On April 14, Trump said he was considering a temporary tariff exemption for imported cars and parts. It is worth noting that nearly 40% of electric vehicle sales in the US market rely on imports from Japan, South Korea and Mexico. This round of tariff adjustments may significantly push up terminal prices and have a profound impact on the market supply and demand pattern.
China continues to lead the global electric vehicle market. Sales in the first quarter of 2025 climbed 36% year-on-year to 2.4 million vehicles, with monthly sales in March approaching the one million mark (a milestone originally achieved for the first time in August 2024). Due to the limited number of electric vehicles imported into China, the impact of the US-China tariff crisis on China is expected to be minimal. However, it is worth noting that the prices of US-made imported models such as Tesla Model X/S may almost double due to tariff adjustments.
Charles Lester, data manager at Rho Motion, said: “Despite policy fluctuations, the global electric vehicle market continued to maintain strong growth in the first quarter of 2025. Several markets represented by the UK performed particularly well, with monthly sales in March reaching a record high, reflecting consumers’ continued favor for electric vehicles.”
Global electric vehicle sales exceeded 4.1 million in the first quarter, a year-on-year surge of 29%! Meanwhile, in North America, industry forecasts have difficulty keeping up with the speed of the Trump administration’s policy announcements. To be sure, the electric vehicle market is already struggling to compete on cost with internal combustion engine vehicles, so reduced subsidies and high tariffs on a highly international supply chain are bound to have a cooling effect on the industry.
Leave a Reply