Consulting company PwC has published an analysis that shows an increase in global electric vehicle sales, with China leading the latest surge in EV sales. Renewed demand for BEVs in Europe has also contributed to the rise in EV sales across the world. China is the largest electric vehicle market and has an incredibly competitive EV sector dominated by dozens of companies.
Unlike carmakers from the West, Chinese automakers have figured out how to develop electric cars at low cost, allowing them to sell EVs at significantly more affordable prices compared to Western-made electric cars, and hastening the adoption of Chinese-made EVs in their home market. Europe, the second largest EV market in the world, doesn’t manufacture electric cars that are as cheap but has provided robust policy, investment, and infrastructure support to speed up the transition to electric vehicles.
Consequently, both China and Europe have been responsible for driving the recent surge in global electric vehicle sales, with China taking the lead, PwC’s analysis has revealed. Over 5.9 million BEVs were registered globally in the first six months of 2025, a 37% year-on-year increase from the first half of 2024, and over two times higher than the 14% year-on-year sales growth registered over the same period last year.
The analysis shows China is the top electric vehicle market in the world, with over 3.7 million new battery electric vehicle registrations in the first half of 2025, a notable 47% increase compared to the same period in the previous year. BYD, the largest electric vehicle firm in China, has consistently been a thorn in Tesla’s side and even managed to surpass the Texas-based EV giant in global sales, and there are dozens more electric vehicle firms fighting for supremacy in the country.
In Europe, automakers are experiencing an EV adoption ‘renaissance’ that has seen customers purchase 1.2 million battery electric cars in the first half of the year, a 25% increase from BEV sales recorded in the first half of 2024 and setting a new sales record for the first six months of any year, PwC says.
Even so, faster electric vehicle sales growth in other markets is causing Europe to steadily lose ground as a top BEV market, with China being a major driver of this global growth.
The U.S. remains the third largest electric vehicle market behind China and Europe but doesn’t have an equally high rate of EV sales growth, registering just 592,000 new battery electric vehicles in the first half of the year, a 7% increase from the previous year. This widening gap suggests the global EV race is intensifying, with China pulling further ahead.
Given the low enthusiasm for EVs in the U.S. and the changing federal policies on support towards electrification, enterprises like Massimo Group (NASDAQ: MAMO) now have to work harder to attract buyers of the electric vehicles they sell.
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