Global Electric Vehicle Sales Rise 18% in January

Global electric and plug-in hybrid vehicle sales saw an 18% increase in January compared to the previous year, reaching 1.3 million units, with growth in Europe and the United States outpacing China for the first time in nearly a year, according to Rho Motion. The European market experienced a strong start, with sales up 21% year-on-year, attributed to new CO2 emission standards, while the US and Canada reported a 22% increase in EV sales. In contrast, China faced a significant month-on-month decline of 43% due to the impact of the Chinese New Year, although year-on-year sales rose by 11.8%. The introduction of a weight tax on plug-in hybrids in France contributed to a 52% drop in sales there, whereas Germany saw over a 40% increase. Governments globally are pushing for EV adoption amid trade tensions and changing market dynamics, with China extending its auto trade-in subsidies to stimulate growth. Despite the positive annual growth figures, the overall market experienced a 35% decline from December 2024, signaling potential challenges ahead.