Global EV Sales Jump 27% This Year Despite Soft US Market

Global electric vehicle (EV) sales have surged by 27% in the first seven months of 2025 compared to the same period last year, reaching over 10.7 million units sold worldwide. This growth is led primarily by China, which accounted for 6.5 million EVs sold (a 29% increase), followed by Europe with 2.3 million units (up 30%), and the rest of the world showing a 42% rise. However, North America’s growth remains sluggish at just 2%, hindered by policy challenges in the US and a slowdown in Canada. Analysts expect a temporary boost in US EV demand ahead of the Inflation Reduction Act (IRA) consumer tax credit deadline in September, but anticipate a subsequent decline. In the UK, legacy automakers have made significant strides in increasing EV sales, with Ford notably achieving a 324% increase in the first half of 2025 compared to 2024. This surge is attributed to the introduction of