Electric Vehicle (BEV/PHV/FCV) Sales Monthly Report (August 2025)
Electric vehicle sales in August increase 19.4% y/y to 1,519,000 units
Share of electric vehicles (BEV/PHV/FCV)
Sales of electric vehicles in the 12 major countries and the 3 Nordic countries of Norway, Sweden, and Finland (15 countries in total) totaled 1.519 million units in August, showing an 8.1% increase over the previous month (m/m), and a significant 19.4% increase compared to the same month last year (y/y). The market share of electric vehicles in August was 29.4%, up 3.5 points y/y, and up by 2.4 points m/m. 2025 cumulative sales of electric vehicles in the January through August period increased 24.9% y/y to 10.822 million units, accounting for 25.8% of total vehicle sales volume.
HV sales totaled 378,000 units in August, down 1.3% from the previous month but up a slight 0.3% y/y. The market share of HVs in August was 7.3%, down 1.2 points m/m and down 0.5 points y/y. Cumulative HV sales for the 2025 January to August period increased 16.6% y/y to 3.594 million units, accounting for 8.6% of total vehicle sales volume.
Regarding the additional U.S. tariffs, President Trump announced the signing of a new comprehensive tariff agreement with Japan on September 4, and automobile tariffs have been reduced from 27.5% to 15% since September 16. On September 24, it was announced that the tax rate for the European Union (EU) would also be reduced to 15%, with the rate to be applied retroactively to August 1. On the other hand, South Korea's negotiations on investment in the U.S. have been difficult and no agreement has yet been reached.
Mexico will reportedly raise tariffs up to 50% on imports from China, India, South Korea, and other countries with which it has no trade agreements, with automobiles, steel, and aluminum among the targeted items. China urged reconsideration and warned against investment and project cancellations, while South Korea announced that it would work with domestic manufacturers to mitigate risks. Canada is also reported to be reconsidering a 100% tariff on Chinese EVs. With the United States-Mexico-Canada Agreement (USMCA) due for review in 2026, and the Trump administration imposing additional tariffs on both countries, attention will be focused on the outcome of negotiations, including future cooperation among the three countries and responses to countries outside the region.
Total sales volume / share of electric vehicles and HVs in 12 major countries and 3 Nordic countries
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