Global EV Sales Surge Despite Trade Disputes

Despite the ongoing trade tensions, global electric vehicles sales jumped by 29% from a year earlier to 1.5 million units in April, EV research firm Rho Motion said on Wednesday.   

Sales, however, fell by 12% compared to March 2025.

Year-to-date, global EV sales rose by 29% compared to the period January-April 2024, with China and Europe leading the growth.

EV sales in China jumped by 35% in the first four months of the year to 3.3 million, and sales in Europe rose by 25% to 1.2 million units. North America saw the lowest growth of just 5% between January and April compared to the same period of 2024.

Chinese sales were supported by the authorities extending the vehicle trade-in policy scheme into 2025 to boost consumer consumption and spending and help economic growth. This policy paid off and Chinese sales of EVs have jumped so far this year.

Tesla, however, is losing market share in both China and Europe, as competition from Chinese and European EV manufacturers is intensifying and prospective buyers, especially in Europe, view Elon Musk’s inroads into politics and affiliation with U.S. President Donald Trump as a negative image of Tesla.

“Ongoing tariff negotiations are dominating talk in the electric vehicle industry but quietly, domestic manufacturers in China and the EU continue to perform well and grow market share,” Charles Lester, Rho Motion Data Manager, said in a statement.

In a separate report out today, the International Energy Agency (IEA) said that EV sales continue to grow globally despite heightened trade and economic uncertainty.

Despite significant uncertainties, the market share of electric cars is on track to exceed 40% by 2030 as EVs become increasingly affordable in more markets, the IEA said.

“This year, we expect more than one in four cars sold worldwide to be electric, with growth accelerating in many emerging economies,” said IEA Executive Director Fatih Birol.

“By the end of this decade, it is set to be more than two in five cars as EVs become increasingly affordable.”