Global sales of electric cars are picking up speed again, driven by strong growth in China and renewed momentum in Europe, according to a new analysis by consulting firm PwC.
In the first half of the year, more than 5.9 million battery electric vehicles (BEVs) were registered worldwide, a 37% increase compared to the same period in 2024. For comparison, full-year sales in 2024 had only grown by around 14%.
China remains the dominant force in the market, accounting for more than 3.7 million of the new BEVs, a 47% jump year-on-year. Meanwhile, Europe also saw a renaissance in electric vehicle uptake, with 1.2 million BEVs sold in the region, a 25% rise and a new record for the first half of any year, according to PwC.
Analysts say tightening CO2 fleet limits likely contributed to the surge. Still, Europe is gradually losing ground as a global electric vehicle market due to faster growth elsewhere, particularly in China.
“German carmakers are hardly benefiting from this enormous momentum,” PwC noted, pointing to a 32% drop in BEV sales by German manufacturers in China. However, those carmakers made significant gains across Europe during the same period.
Growth in the U.S. is sluggish
The United States remains the third-largest electric car market behind China and Europe, but growth there continues to lag. Just 592,000 new BEVs were registered in the U.S. in the first half, a 7% increase compared to the year before.
Looking at separate countries, Germany has reclaimed third place globally, with 249,000 new BEV registrations, ahead of the United Kingdom, which follows with 225,000.
Despite the strong figures in Europe, it is “unclear what the transformation will actually look like for German manufacturers,” said PwC automotive expert Felix Kuhnert.
While both policymakers and society back the push for zero-emission transport, Kuhnert noted that the capital markets now expect profitable business models after years of heavy investment in electric mobility.
Supply chain risk
One concern, experts say, is Europe’s growing dependence on Asian suppliers. “Rare earths and materials such as lithium are the building blocks of electric mobility and are increasingly becoming Europe’s strategic Achilles heel,” said Jörn Neuhausen of PwC subsidiary Strategy&.
He urged European governments and the automotive industry to jointly develop a forward-looking raw materials strategy, diversify sourcing, and build out supply chains in Europe to secure long-term access to key components.
