Strategy& – Electric Vehicle Sales Review, Q1 2025

The main topic of the report is the analysis of electric vehicle (BEV and PHEV) sales in the first quarter of 2025.

Key findings include a significant 42% growth in global BEV sales compared to the same period last year, leading to a record market share of 16% for the first quarter. China played a key role, accounting for over 60% of global BEV sales, with a 55% increase driven by government incentives. PHEV sales also rose by 27% globally, mainly due to a 37% increase in China. In Europe, BEV sales grew by 30% after a temporary slump, particularly in the UK and Germany. Despite the growth, the electrification of the automotive industry is progressing slower than expected due to geopolitical instability and uncertainty in the US.