Global electric vehicle (EV) sales surged dramatically in May 2025, with 1.6 million units sold, marking a significant total of 7.2 million for the year thus far—an impressive 28% increase compared to the same period in 2024.
Leading this growth, China reported a record 1 million EVs sold in May alone, a remarkable 33% rise year-over-year and a 10% leap from April.
As the world’s largest market for EVs, China continues to set the pace, outpacing its counterparts in North America and Europe. Charles Lester from Rho Motion noted, “The story this month is the continued chasm between Chinese market growth and the faltering market in North America”.
BYD Expands in Europe Amid Shifting Market Dynamics and New Incentives
In stark contrast, North American sales showed only a 3% increase year-to-date, hampered by a notable decline in Canada due to slashed subsidies, which resulted in a staggering 20% drop in sales. The U.S. managed a modest 4% growth, partially credited to federal EV tax credits, which are set to phase out starting in 2026.
Europe, meanwhile, enjoyed a 27% growth rate in EV sales, with Spain and Italy particularly flourishing—experiencing 72% and 58% increases, respectively.
Germany also stepped up, rolling out new tax incentives aimed at boosting commercial EV sales, a move that could spur growth in the coming months as corporate vehicles dominate the auto market.
Chinese automaker BYD is capitalizing on this expansion, increasing its presence in Europe with new battery electric vehicles (BEVs) and plug-in hybrids, including the recently launched budget-friendly Dolphin Surf, which is not subject to the new EU tariffs affecting Chinese imports.
With the market dynamics shifting and incentives fluctuating, the race for EV supremacy continues as stakeholders prepare for a year of anticipated acceleration.
Author: Chema Carvajal Sarabia
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