Why electric car sales will grow by a third in 2025
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Industry predict that global sales of electric vehicles will grow by 30% in 2025, reaching 15,100,000 units. This means that electric cars will account for 16.7% of total global car sales.
This was reported by Cars Coops.
Imbalance between regions
According to S&P Global Mobility, although sales of electric vehicles in 2024 stalled at 11.6 million units with a share of 13.2%, next year promises significant growth. However, it will vary by region.
In India, the number of electric cars is expected to increase by 117% to 7.5% of the total market. Demand for electric vehicles in the United States could rise by 36%, but it will all depend on the policies of the new administration of President Donald Trump. In Europe, the situation looks more optimistic — sales of electric vehicles could grow by 43.4%, accounting for 20.4% of the total market, despite the fact that France and Spain will cancel or at least reduce subsidies in 2025.
Paradoxes of the Chinese market
China remains the leader in the production and sale of electric vehicles, with their share in the country expected to reach 29.7% in 2025. However, the growth rate (19.7%) will be lower, as the market is already saturated.
At the same time, in 2025, Chinese electric cars will exceed sales of cars with internal combustion engines for the first time, which is the result of the government's aggressive promotion of electric cars.
Despite forecasts of growth in the electric segment, an oversupply of models, fierce competition, and price wars will lead to the demise of many local brands.
European, Japanese, and American automakers, which dominated China a few years ago, have already faced a sharp drop in sales as local buyers turn to domestic brands. In 2020, foreign cars accounted for 64% of new car sales, and this year their share fell to 37%.
Earlier, the expert explained why hybrid cars are a bad idea. We also wrote why and how prices for electric cars in Ukraine will change in 2025.
