Global electric vehicle sales will exceed 20 million in 2025, accounting for more than a quarter of global sales, according to a new report from the Paris-based International Energy Agency (IEA). Global EV sales rose 35% over the previous year in the first three months of 2025. And, the IEA added, the market share will exceed 40% by 2030, as electric vehicles (Maller, cheaper) are becoming increasingly affordable in more markets.
almost half All car sales in China last year were electric. Emerging markets in Asia and Latin America have also become new growth centers, with EV sales soaring more than 60% in 2024, according to the IEA. Meanwhile, in the United States, EV sales increased by about 10% year-on-year.
“Our data shows that despite the serious uncertainty, electric vehicles still have a strong growth trajectory worldwide,” said Fatih Birol, executive director of IEA. “Sales continue to set new records, with a significant impact on the international automotive industry. This year, we expect a quarter of the cars sold worldwide to accelerate growth in many emerging economies. By the end of the decade, it will be more than a fifth.”
China, which accounts for more than 70% of global electric vehicle production, shipped nearly 1.25 million electric vehicles to other countries last year. The end of EU electric vehicle subsidies has affected sales in Europe. According to the European Automobile Manufacturers Association, the EU’s EV market share fell to 13.6% in 2024, down 1% from the previous year.
Volkswagen’s luxury Marquis, including Porsche, Bentley and Lamborghini, are reevaluating its electric vehicle strategy. Porsche has cut plans to reduce its full electric lineup after Taycan sales fell by 49%. Bentley has postponed its first electric vehicle to the next grade starting this year and extended its gas engine phase-out deadline to 2035. Lamborghini delays its Lansador electric vehicle until 2029.
Wait for a few months and you will most likely be able to buy the G580 for a listing price of less than $162,000. Currently, you can pack a three-year-old Porsche Taycan (range 416 miles) for less than half the price. Currently, 930 used Taycans are available on Auto Trader in the United States, ranging from at least $100,000 to $44,000 in the base model. The Taycan, which is only 11,000 miles, costs just $47,000.
U.S. and European automakers – both trials and startups want high demand for quality-priced Prestige EVS (Jaguar is doing future business), but for years the market has been crying, instead crying for cheaper, entry-level models. Dale Harrow, president and director of the Centre for Smart Mobile Design at Royal Royal College of Art in London, said the favorite method for the Hyundai auto industry is to fill flagship stores with the best merchandise and then let these slowly drip into lower-rise cars.
“The same technology is basically in all electric cars,” Harrow said. “So, this is the first time there is no real guarantee of spending more money on a better product. Look at Bider’s vehicles.”
Instead, Harrow believes automakers must break away from flagship-first dependence, classic model t strategy, and focus on building the EVs of the masses through a combination of affordability, simplicity and mass production. Guess who has solved it? Yes, China – Nearly 40% of all electric models are priced under $25,000.
It is this strategy rather than a fancy tank turn that will drive real adoption and encourage the spread of viable charging networks. After all, the ubiquity of Model T plays a key role in the development of gas stations, and there is absolutely no reason why this technique cannot be rotated in the electric age.
