CarOnPhone Car News Global EV Sales to Surpass 20 million in 2025
CarOnPhone Car News Global EV Sales to Surpass 20 million in 2025

Global EV Sales to Surpass 20 million in 2025

Chintan Mehta

15 May 2025, 05:19 PM

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Global EV Sales to Surpass 20 million in 2025
Global electric vehicle sales set to rise above 20 million this year with drops in price and increase of markets. The number of electric vehicles (EVs) is predicted to register more than a quarter of the global car sales. This further expansion embeds the electric car market as a giant in the electric vehicle industry.
More than 20 million electric cars are expected to sell around the world this year — 2 more million than in 2024 — a steady growth path despite economic uncertainties and policy swings. In the first quarter in 2025, the sale of electric vehicles increased by 35% compared to the previous year, breaking several records across various regions.

China takes the lead in global shift in electric car market

The market of electric vehicles is still dominated by China, selling the number of more than 11 million units in 2024, which is nearly half of China’s total new car sales. The number of electric cars sold in the past year in China is the equivalent of all the sales made for the entire world in 2022. As it stands, many Chinese EV models have a price under the gasoline versions without the incentive.
Chinese export is also increasing dramatically. In 2024, China exported nearly 1.25 million electric cars overseas, driving down global prices and improved access to the technology in developing countries.

United States and Europe: Mixed Progress in EV Adoption

In the US, electric vehicle sales increased about 10% year-on-year, with electric cars accounting for a share greater than 10% of new car sales. 
Europe experienced a plateau in electric car sales growth where the market share stagnated at the 20% levels while the government subsidies were reduced. Nevertheless, total demand for the electric vehicles stayed the same as stated in the report.

Emerging markets help to speed up electric vehicle adoption

Strong growth was experienced in the emerging economies of Asia and Latin America with the sales of electric vehicles increasing by more than 60% in 2024. This increase is basically attributed to increased availability of cheaper electric car model and increased imported cars from China.

Decreasing prices of electric vehicles in spite of cost differentials

Average electric vehicle prices dropped worldwide in 2024 (due to the decrease in batteries’ pricing and intensifying competition), however, price differentials exist in some markets.

  • Approximately two-thirds of electric vehicles sold in China were sold for the price that is less than the price of conventional vehicles would be sold.
  • In Germany, the electric car is still 20% more costly than the gasoline automobile.
  • Price gap in the U.S. is 30%, and savings in operating costs still encourage procurements.
The electric vehicles also tend to be less expensive to run.

Electric Trucks Getting a Foot Hold in the Market

Electric truck sales recorded considerable increase with sales rising by 80% in 2024 to make up nearly 2% of all sales in the globe. Most of this growth was spearheaded by China, where some of the heavy-duty electric trucks have become cheaper than their diesel counterparts on a lifecycle basis even though they are more expensive in the short run.

Future projections and the impact of Global EV industry

Although the world economy faces the pressure and the policy utilization changes, the electric mobility sector continues to show a distinct upward trend. More affordability coupled with the presence of better infrastructure and heightened consumer interest, the future of transportation in the world is in electric vehicles.

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