Latest News

Research firm predicts that global EV sales will slow down after a 20% increase in 2025.

Data showed that global EV registrations increased by 20% in 2018, but will likely slow down in 2026. This is because a combination of a slowdown in China, and the relaxation of electrification goals worldwide, led to a sales increase in December which was the lowest since February 2024.

The number of monthly'registrations' of electric vehicles in North America, including plug-in and battery hybrids, has dropped even further since the United States ended its EV tax credit program in October, according to Benchmark Mineral Intelligence.

Why it's important

According to BMI data manager Charles Lester, radical policy changes, such as President Donald Trump's U turn on electrification, and the relaxation of emissions standards in the European Union in 2025, will transform the global EV industry into a "virtually non-recognisable" landscape.

The debate over electrification will likely intensify due to the rising competition in Europe, as well as the cooling of demand in China. Electrification advocates stress the need to reduce CO2 emissions that are warming the planet. Carmakers argue a rapid transition would threaten jobs and profits.

By the Numbers

The data revealed that global EV registrations - a proxy for sales - rose by 6% in December to nearly 2.1 million vehicles, and will reach 20.7 million in 2025.

In China, they increased by 2% to over 1.3 million. This is the lowest increase year-over-year since February 2024. The increase will be 17% to 12,9 million units in 2025. The country produced 71%?EVs that were sold globally.

North American registrations dropped by 39%, to just over 100,000 vehicles sold. This follows similar drops in October and Novembre at the end of U.S. Tax Credits. The decline was 4% over the course of 2025.

Europe saw a 34% increase in registrations in December and by 33% for the entire year. The rest of the world saw a 41% increase in sales in December and a 48% increase in 2025.

What's Next?

BMI predicts that 23.9 million EVs are expected to be sold worldwide this year. This is a 15.7% rise. Growth in China will accelerate to 21%, while Europe and the rest slowed to 15% and 26% respectively. The forecast is for a more dramatic decline of 23% due to the 29% drop in U.S.

(source: Reuters)