Electric vehicle sales have surged globally, with a remarkable 42 per cent growth in the first quarter this year despite tariffs impacting trade.
This jump has resulted in the highest global battery electric vehicle (BEV) market share on record at 16 per cent, according to a report.
The impressive growth comes despite ongoing trade tensions and tariffs affecting the automotive industry worldwide.
Combined global sales of BEVs and plug-in hybrid electric vehicles (PHEVs) surpassed four million units across 40 markets for the first quarter.
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Drivers across the globe have become more eager to buy an electric car instead of petrol or diesel ones
PA/GETTYThis has led to more consumers showing more eagerness to transition away from traditional petrol and diesel vehicles, embracing electric alternatives at an accelerating pace.
China dominates the global electric vehicle market, accounting for more than 60 per cent of worldwide BEV sales in Q1 2025, with sales growing by 55 per cent compared to last year, reaching the highest ever BEV market share in the country at 27 per cent.
This growth has been fuelled by continued Government stimulus measures, including the expansion of trade-in schemes offering financial incentives.
Meanwhile, traditional internal combustion engine vehicle sales in China declined by seven per cent, marking the tenth consecutive quarter of decline for petrol and diesel vehicles.
The European electric vehicle market has rebounded strongly after three consecutive quarters of decline, with BEV sales growing by 30 per cent in the top five markets during Q1 2025.
The UK and Germany led this revival, with sales increases of 43 per cent and 39 per cent respectively. The UK now holds the largest BEV market in Europe, with the highest market share at 21 per cent, followed by France (18 per cent) and Germany (17 per cent).
Italy and Spain recorded even higher percentage growth at 73 per cent and 69 per cent, although from much lower starting points.
Only France bucked the positive trend, with BEV sales declining by seven per cent after a short-lived low-income lease subsidy ended.
Meanwhile, the US market has shown resilience with BEV sales growing by 18 per cent in the first quarter of 2025 compared to the same period last year.
This growth comes despite uncertainty surrounding the future of electric vehicle tax credits under the new Trump administration.
Many American consumers have been rushing to take advantage of the existing tax credit of up to $7,500 (£5,650) before its possible reduction or cancellation.
The shift away from petrol and diesel vehicles is evident in market penetration rates across major regions. In Europe's top five markets, total EV market share (including BEVs, PHEVs and hybrids) now exceeds 60 per cent, according to the PwC study.
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Global sales of electric vehicles have grown rapidly in the first quarter of the year
GETTYThis represents a dramatic increase from just 17 per cent in Q1 2020, when BEVs accounted for only four per cent of the market.
In China, the combined BEV and PHEV market share has reached 43 per cent, while traditional combustion engine sales continue their decline. Even in the more resistant US market, EVs now account for 22 per cent of sales, with hybrids growing by 47 per cent.
