The world is buying EVs faster than ever, with sales up 27% compared to last year

Global EV sales are up 27 percent in 2025, with over 10.7 million units sold so far, mostly in China and Europe.

So while it is true that EV sales are slowing down in some markets, they’re clearly growing across the board.

But there are at least two factors to bear in mind.

One of which will likely get ‘worse’ very soon.

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Global EV sales went up across the board

Global EV sales went up in 2025, according to a study conducted by Benchmark Minerals.

In the first six months of 2025, 27 percent more EVs were sold globally compared to 2024.

In total, over 10.7 million people bought an EV this year, mostly in China, which shifted 6.5 million units, and Europe, with 2.3 million sold, up more than 30 percent.

And North America managed 1 million units, an increase of just over +2 percent.

Interestingly, only 900,000 units were sold outside of the aforementioned markets, but that still represents a 42 percent year-on-year increase.

A couple of things worth noting

There are two things that stand out.

First, North America, all things considered, accounts for a relatively small portion of sales.

Second, sales in North America recently accelerated because people are trying to make the most of the soon-to-be discontinued federal EV tax credit, which means we’re likely to see a slowdown in the second half of the year.

It’s also interesting to note that ‘the rest of the world’ also includes two key markets: Japan and the Middle East, places where, evidently, EVs aren’t selling that well.

This is especially bad news for luxury manufacturers.

It varies slightly from one automaker to another, but generally speaking, luxury manufacturers sell most of their cars in Germany, UK, and China – three EV-friendly markets.

But they’re also successful in Japan, Gulf countries, especially the UAE and Saudi Arabia, and North America, which lag in EV adoption.

For now, this is further proof that the camp that says the market for luxury EVs isn’t ripe yet might have a point.