Electric Vehicle (BEV/PHV/FCV) Sales Monthly Report (May 2025)

Electric vehicle sales in May increase 23.1% y/y to 1,431,000 units

2025/06/25

Share of electric vehicles (BEV/PHV/FCV)

  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 June 20, 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) in May totaled 1.431 million units, growing steadily with a 7.6% increase over the previous month (m/m) and a 23.1% increase compared to the same month last year (y/y). Sales volumes increased in China, Germany, and the UK. The market share of electric vehicles in May was 26.6%. This reflects a 3.8 percentage point increase y/y and a 1.3 point increase m/m. Cumulative sales of electric vehicles in the January to May period increased 31.0% y/y to 6.344 million units, accounting for 24.3% of total vehicle sales volume for the period.

  HV (hybrid vehicle) sales totaled 412,000 units in May, down 9.9% from the previous month but up 7.4% y/y. The market share of HVs in May was 7.7%, down 1.0 points m/m but up 0.2 points y/y. Cumulative HV sales for the January to May period increased 21.2% y/y to 2.271 million units, accounting for 8.7% of total vehicle sales volume.

  On June 12, U.S. President Trump stated that there is a possibility of further increases to automobile tariffs. He said that OEMs facing increasing tariffs would be encouraged to make further investments in the U.S., citing GM and Hyundai's announcements of additional investments in the U.S. as successful examples. On the other hand, OEMs are lobbying the White House to reduce the additional 25% tariffs. Import tariffs on steel, aluminum, and their derivatives were raised from 25% to 50% on June 4.

 While negotiations between the United States and other countries were ongoing, the United Kingdom signed the UK Economic Prosperity Deal (EPD), which was announced by the leaders of both countries on June 18. For the first 100,000 vehicles exported to the United States by British automakers each year, the U.S. import tariff will be reduced from 25% to 10%, and a 25% tariff will be applied to any exports exceeding 100,000. For British-made steel and aluminum products and their derivatives, a tariff quota will be set that reduces tariffs to 0% or a low level up to a certain amount.

 China's rare earth export restrictions are also affecting automobile production in various countries. The Chinese government-imposed export restrictions on rare earths on April 4. Rare earths are used in essential parts for automobile production, such as electronic components and permanent magnets. The export restrictions have had a growing impact on the entire industry, with manufacturers facing parts shortages and production halts for some vehicle models. On June 7, China's Ministry of Commerce announced that it had approved some rare earth export applications.

  It will be necessary to continue to closely monitor the actions of the Trump administration, the progress of discussions between countries, and the actions of individual manufacturers.

 

 

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