Global EV sales rise in May as China hits 2025 peak: Rho Motion
Sign up now: Get ST's newsletters delivered to your inbox
EV sales in China grew more than 24 per cent in May from the same month in 2024 to 1.02 million vehicles.
PHOTO: BLOOMBERG
Follow topic:
LONDON – Global sales of electric and plug-in hybrid vehicles rose 24 per cent in May compared with the same period a year ago, as strength in China offset slower growth in North America, according to market research firm Rho Motion.
Electric vehicle (EV) sales in China surpassed one million units in a single month for the first time in 2025, driven by strong domestic demand and targeted export efforts from Chinese manufacturers, notably BYD, tapping into emerging markets.
BYD’s exports to Mexico and South-east Asia, along with Uzbekistan, have significantly boosted sales in these regions, Rho Motion data manager Charles Lester said.
Global sales of battery-electric vehicles and plug-in hybrids rose to 1.6 million units in May, Rho Motion data showed.
Sales in China grew more than 24 per cent from the same month in 2024 to 1.02 million vehicles.
Europe posted a 36.2 per cent increase to 0.33 million units, while North American sales edged up just 7.5 per cent to 0.16 million vehicles.
Sales in the rest of the world rose 38 per cent to 0.15 million vehicles.
“The story this month with global vehicle sales is the continued chasm between Chinese market growth versus the faltering market in North America,” Mr Lester said.
Global automakers face a 25 per cent import tariff in the US, the world’s second-largest car market, causing many of them to withdraw their outlooks for 2025.
US President Donald Trump’s stance towards emissions standards and uncertainties around tariffs have also hampered EV growth in North America.
In the US, tax credits for EVs are still available but will begin phasing out from 2026, contributing to hesitation among buyers.
Fleet incentives in Germany and robust growth in Southern Europe helped lift the European market, while the expiry of Canadian subsidies dragged on North American demand.
In Europe, new incentives for fleet buyers in Germany are expected to support electric car sales through the second half of the year.
Tesla’s Model Y production in Berlin shields it from tariffs, yet it faces market share pressures as production ramps up globally amid shifting trade tensions. REUTERS
