Worldwide EV sales surge to record levels
China remained the largest EV market, with 12.9 million units sold, up 17% year-on-year. Europe followed with 4.3 million EVs, representing a 33% increase, while North America saw 1.8 million sales, down 4%. The rest of the world accounted for 1.7 million units, up 48% compared with 2024.
Benchmark noted that the 20.7 million units sold globally included passenger cars and light-duty vehicles. In Europe, growth was split between Battery Electric Vehicles (BEVs), which increased 31%, and Plug-in Hybrid Electric Vehicles (PHEVs), which grew 38%. The European EV market experienced significant legislative changes during 2025, with EU tailpipe emissions targets softened over the year.
Several major markets saw accelerated growth: Germany and the UK posted gains of 48% and 27%, respectively. However, the North American market faced headwinds. In the US, the removal of federal tax credits on September 30, 2025, combined with the elimination of CAFE fines and protectionist policies encouraging domestic vehicle production, slowed EV momentum, resulting in just a 1% sales increase. Canada’s market performed poorly as subsidies were removed early in the year, causing a 41% drop in EV sales. Meanwhile, Mexico saw a 29% increase, largely driven by imports of Chinese EVs.
In China, BEVs grew by 26% while PHEVs increased 6%, contributing to overall EV market growth of 17% compared with 2024.
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