This report presents new car sales volumes (MarkLines aggregate data, excluding commercial vehicles; estimates are included) and analyzes sales trends of electric vehicles (BEV: battery electric vehicles / PHV: plug-in hybrid vehicles / FCV: fuel cell vehicles) in the global market in 15 countries, including 12 major countries, which account for approximately 83% of global car sales, and three Nordic countries (*Note).

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  12 major countries: China, U.S.A., Japan, India, Germany, France, Brazil, U.K., South Korea, Canada, Italy, Thailand

  3 Nordic countries: Norway, Sweden, Finland

  These 15 countries account for about 90% of global electric vehicle sales.

 (Note 1) Aggregated on Feburary 21, 2025
              Some corrections have been made to past vehicle data.
              Some data includes estimates.
              The sales volume (shipment volume) for China are aggregate figures excluding exports.

 (Note 2) Reasons for high electrification rates in Nordic countries
              1. The population’s environmental awareness has always been high.
              2. A high percentage of electricity is generated from renewable energy sources such as hydroelectric power and wind power (awareness of the need to use abundant renewable energy for electric vehicles).
              3. Generous policies such as subsidies, tax incentives, and charging infrastructure development.
              4. A wide range of electric vehicle models is available.

  Sales of electric vehicles in the 12 major countries and the 3 Nordic countries of Norway, Sweden, and Finland (15 countries in total) reached 1.075 million units in January. Compared to the previous month, there was a decrease in sales of 40.4%, but compared to the same month a year ago, there was a significant 22.2% increase. The market share of electric vehicles in January was 22.6%, up 3.9 points year-over-year (y/y), but down by 6.8 points month-over-month (m/m). In December 2024, there was a large increase in electric vehicle sales due to year-end rush demand, and while January saw a significant month-over-month drop due in part to a reaction to that demand, year-over-year sales are growing steadily.

  Hybrid vehicle (HV) sales totaled 394,000 units in January. This represents an 18.4% m/m decrease, but reflects a 14.4% y/y increase. The January single month share was 8.3%, up 0.4 points m/m, and also up 1.0 points y/y.

  U.S. President Trump, who took office on January 20, had initially announced that an additional 25% tariff on goods from Canada and Mexico would take effect on February 1, but subsequent deliberations resulted in a one-month delay. On the other hand, in February, the U.S. announced it would impose an additional 25% tariff on steel and aluminum imports from all countries. In addition, the U.S. is also considering imposing additional tariffs on imported vehicles from April onwards. Concerns from the industry as a whole are also growing, with the American Automotive Policy Council (AAPC) issuing a statement opposing additional tariffs. If the additional tariffs are imposed by the United States, various manufacturers and suppliers both in and outside the U.S. will be significantly affected. It will be necessary to continue to closely monitor the Trump administration's tariff policies.