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Global Electric Vehicle Sales Rise 18% in January

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Global sales of electric and plug-in hybrid vehicles saw an 18% increase in January compared to the previous year, with Europe and the United States experiencing stronger growth than China for the first time since last February, according to research firm Rho Motion.

Europe began the year with robust sales as new CO2 emission targets took effect in the European Union, boosting demand. However, China experienced a 43% month-on-month sales decline in January, primarily due to the Chinese New Year holiday period. Despite this, the global market showed steady growth.

Governments worldwide are implementing policies to support electric vehicle (EV) adoption, which remains crucial amid ongoing trade tensions and challenges in the automotive industry, such as plant closures and job losses. In January, China extended its auto trade-in subsidies into 2025, while Europe began consultations on new CO2 emission targets.

BY THE NUMBERS:

  • Global EV and plug-in hybrid sales rose 17.7% year-on-year, reaching 1.3 million units in January.
  • Sales in China grew 11.8%, totaling 0.7 million vehicles.
  • European sales rose 21%, totaling 0.25 million, with Germany seeing a 40% increase.
  • The U.S. and Canada saw a 22.1% rise in sales, reaching 0.13 million units.
  • Sales in other global markets surged 50%.
  • On a monthly basis, global sales fell by 35%, primarily due to a sharp decline in China.