Electric Vehicle Sales Surge in July
In July, global sales of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) rose by 9% year-over-year, totaling approximately 1.85 million units sold and bringing the year-to-date total to 11.5 million units, according to Benchmark Mineral Intelligence. However, sales trends varied significantly by region.
Europe experienced a substantial 33% increase, with around 450,000 units sold, largely fueled by financial incentives and tax breaks for EV adopters. In contrast, China’s EV sales declined by 5% to 980,000 units, influenced by the reduction of government tax exemptions, while the U.S. saw a notable 27% drop in unit volume, totaling 140,000 sales affected by the impending end of the federal Clean Vehicle Credit on September 30, 2025. Globally, sales outside the major markets nearly doubled to 280,000 vehicles.
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