Posted By Global Banking and Finance Review
Posted on May 13, 2025
By Alessandro Parodi
(Reuters) -Global sales of electric and plug-in hybrid vehicles rose 29% year-on-year in April, with stable growth in China and Europe despite trade tensions, while North America recorded the first fall since last September, data showed on Wednesday.
European EV sales of legacy auto groups that are seeking to sell less polluting models to meet EU CO2 emission targets, outperformed those of Tesla.
Tesla continued to lose market share ahead of a revamp of its popular Model Y, Rho Motion data manager Charles Lester said.
China-based EV makers continued to increase domestic sales of battery-electric vehicles while responding to growing demand for plug-in hybrids offshore, he added.
WHY IT'S IMPORTANT
Global automakers face a 25% import tariff in the United States, the world's second-largest car market, causing many of them to withdraw their outlooks for 2025.
President Donald Trump's stance towards emissions standards and uncertainties around tariffs also hampered EV growth in North America.
His deals this month with Britain and China only affect EV sales marginally, but are positive signs for the industry ahead of his potential talks with Korea, Japan and the EU, Lester said.
BY THE NUMBERS
Global sales of battery-electric vehicles and plug-in hybrids rose to 1.5 million in April, the Rho Motion data showed.
Sales in China were up 32% from the same month of 2024 to 0.9 million vehicles.
Europe reported a 35% year-on-year increase in registrations to 0.3 million cars sold, while in North America they fell 5.6% to 0.1 million.
In the rest of the world, April sales rose by 50%.
KEY QUOTE
"The plug-in hybrids have almost doubled year to date in the rest of the world, but the main reason for that is the Chinese exports," Lester said.
CONTEXT
Governments worldwide are adopting policies to encourage EV adoption, while trade tensions and slowing car markets could foreshadow plant closures and job losses.
China extended its auto trade-in subsidies into 2025 as part of an expanded consumer trade-in scheme in January, to try to avert a slowdown in EV sales while reviving economic growth.
(Reporting by Alessandro Parodi in Gdansk; Editing by Barbara Lewis)
