Despite the instability in the electric vehicle market in 2024, analysts at S&P Global Mobility expect significant growth in 2025. They predict a 29.9% increase in electric vehicle sales compared to the previous year.
It is expected that 15.1 million new electric vehicles will be sold in 2025, raising their market share from 13.2% to 16.7%. At the same time, global production of passenger cars is expected to decrease by 0.4%.
Sales of electric vehicles in China will increase by 19.7%, allowing the country to account for 29.7% of the global sales of such cars. The largest growth is expected in India — 117%, followed by Europe with a 43.4% increase, and the United States with 36%.
At the same time, Mark Fulthorpe, the executive director of S&P Global Mobility, notes that the electric vehicle market could face certain challenges, including the potential return of Donald Trump to power in the U.S. and the introduction of tariffs on imported goods. Despite these concerns, the company remains optimistic about the market's prospects.