Global Electric Vehicle Sales Surge 24% in June Driven by China and Europe

According to a report by Rho Motion on July 15, global electric vehicle (EV) sales, including battery electric vehicles and plug-in hybrids, surged 24% year-on-year in June, reaching 1.8 million units, thanks to ongoing electrification efforts in China and Europe. The data shows that EV sales in the Chinese market increased by 28% year-on-year to 1.11 million units, while European sales jumped 23% to approximately 390,000 units. However, North American EV sales declined by 9%, slightly exceeding 140,000 units. In other regions, including emerging markets in Southeast Asia, South America, and Central America, sales skyrocketed by 43%, surpassing 140,000 units. Rho Motion's data manager, Charles Lester, noted that the decline in Canadian sales has caused the North American EV market to lag behind other regions for the first time. In the U.S. market, EV sales in June dropped by 1% year-on-year, and the growth outlook for the year remains bleak, partly due to the early reduction of tax incentives related to President Trump's spending bill. Additionally, the 25% tariff on imported vehicles in the U.S., the world's second-largest automotive market, has led several global automakers to lower their financial forecasts for 2025. In Europe, incentive policies for retail and fleet buyers in key markets like Germany and Spain, along with the increasing availability of affordable EV models, are expected to support EV sales in the second half of this year. Charles Lester mentioned that while companies like Volkswagen and Renault excel in the small EV sector, Chinese brands like BYD are capturing market share in Europe and driving growth in emerging markets. However, he also noted that reports indicate a potential slowdown in China's EV market growth due to the end of subsidy policies in some cities. Nonetheless, Lester added that Rho Motion anticipates more subsidy policies to be introduced in the second half of this year, which will significantly boost EV sales by the end of the year.