Global EV sales climbed again in August 2025, with 1.7 million electric vehicles hitting the road worldwide. That’s a 5% jump compared to July and 15% higher than August 2024, according to new data from Rho Motion.

Battery electric vehicles (BEVs) made up the bulk of sales at 1.16 million units, while plug-in hybrids (PHEVs) accounted for 570,000. In total, 12.5 million EVs have been sold in the first eight months of this year.

Charles Lester, data manager at Rho Motion, explained what’s driving the numbers:

The North American market has reached a record monthly high as consumers in the US accelerate purchases to take advantage of the tax credit before it expires at the end of September. Momentum remains in Europe, underpinned by the emissions legislation, with major automotive countries, Germany and the UK, growing by 45% and 31% YTD, respectively.

Year-over-year growth in the Chinese market slowed in July-August 2025; however, this is compared to a period where subsidies for the auto trade-in scheme increased last year, which spurred EV demand in the country.

Here’s how year-to-date sales stack up against the same period in 2024:

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• Global: 12.5 million, up 25%
• China: 7.6 million, up 25%
• Europe: 2.6 million, up 31%
• North America: 1.3 million, up 6%
• Rest of world: 1.0 million, up 44%

Europe is seeing some of the fastest growth. Sales are up 31% year to date, split nearly evenly between BEVs and PHEVs. Germany leads the charge with a 45% jump, while the UK is up 31%. Spain has doubled its EV sales this year, and Italy is up 41%. France is the outlier, with sales down 9% so far in 2025. August sales in the UK dipped 32% compared to July, but that’s a normal seasonal slowdown before a big surge in September tied to new license plate numbers.

On the model front, Ford’s Puma Gen-E and E-Tourneo Courier both qualified for the maximum UK discount of £3,750 ($5,100). Chinese automaker BYD continues its push in Europe, with the Seal U becoming one of the region’s bestselling PHEVs. In September, BYD added another model, the Seal 6 PHEV.

In North America, sales are up 6% so far this year, but August set a new monthly record as US buyers rushed to lock in the federal tax credit before it ends September 30. Analysts expect strong September numbers, followed by a steep drop in Q4. Automakers are already preparing for a pullback: VW will pause ID.4 production in October, and GM is expected to cut EV output once the credit disappears. Canada is struggling, with EV sales down by a third this year after the iZEV rebate was paused. That slump, paired with tough economic conditions, could derail the country’s 2026 EV sales mandate, which Prime Minister Mark Carney has paused while the government deals with US tariff impacts.

China, the world’s largest EV market, grew sales 11% in August compared to July and 6% year over year. Year-to-date sales are still up 25%, but growth has slowed compared to last year, when a boosted auto trade-in subsidy drove demand. BYD, the country’s dominant player, cut its 2025 sales target from 5.5 million units to 4.6 million, with up to a million of those expected to come from overseas markets.

Read more: Global EV sales hit 10.7M in 2025 – Europe surges, US stalls

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The Chevy Equinox EV, or America’s most affordable EV with over 315 miles of range, is now even cheaper this month. Chevy is offering more chances to save this month on the electric Equinox, Blazer, and Silverado with new EV deals rolling out.

Chevy launches new EV deals with the tax credit expiring

After back-to-back record sales months in July and August, GM remained the number two seller of EVs in the US, behind Tesla.

The Chevy Equinox EV, or as GM calls it, “America’s most affordable 315+ mile range EV,” has been a smash hit. GM now expects it to be the third top-selling EV in the US this year, behind the Tesla Model Y and Model 3.

After launching the lower-priced LT trim late last year, starting at just $34,995, the Equinox drove Chevy to become the fastest-growing domestic EV brand in the US.

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As one of the few electric vehicles with a starting price under $35,000, it’s no wonder the Equinox EV is flying off the lot.

With new deals this month ahead of the $7,500 deferal EV tax credit deadline, the Chevy Equinox EV is even more affordable. In fact, all of Chevy’s electric vehicles are currently heavily discounted.

Chevy is offering up to $3,000 customer cash bonus on select 2025 Equinox EV models with leases starting at just $249 per month. The deal is for a 24-month lease with $3,049 due at signing and includes the loyalty or conquest bonus.

Alternatively, Chevy is offering the $7,500 federal EV tax credit plus 0% APR financing for 60 months when financing any 2025 electric vehicle, including the Equinox, Blazer, and Silverado. If you’re a Costco member, you can save an extra $1,250.

The 2025 Chevy Equinox and Blazer EVs also have a $1,250 purchase allowance for eligible trade-ins, while the 2025 Silverado gets a $250 bonus.

The new 2026 Chevrolet Equinox EV is available with a cash bonus of up to $2,000 or 1.9% APR financing for 36 months.

If you’re looking for something a little bigger and more powerful, the 2025 Chevy Blazer EV is available with up to $3,500 in bonus cash with leases starting as low as $369 per month. That offer is also a 24-month lease, but with $3,149 due at signing.

For pickup fans, the Chevy Silverado EV is even more impressive than it looks, with up to 493 miles of range, a towing capacity of up to 12,500 lbs, and the ability to hit 0 to 60 mph in under 4.5 seconds.

The 2025 Chevrolet Silverado is available with up to $4,000 in bonus cash right now. Chevy is listing the 2025 Silverado EV Crew Cab 4WD LT trim for leases as low as $749 for 24 months with $5,209 due at signing.

Chevy’s electric vehicles are not only some of the most affordable to lease, but they are also the cheapest to insure. According to a recent study from Insurify, the Chevy Blazer and Equinox are the most affordable EVs to insure.

Chevy’s deals are set to end on September 30, when the federal EV tax credit is also set to expire. Despite record sales, GM said it expects a slowdown later this year as the “irrational discounts” come to an end.

Are you looking to grab the savings while they are still available? We can help you get started. You can use our links below to find Chevy Equinox, Blazer, and Silverado EV models in your area.

Volvo’s long-time CEO, Håkan Samuelsson, is returning to help the brand and openly admits that the rapid electrification of the auto industry will result in a few Western automotive brands going out of business.

Samuelsson led Volvo from 2012 to 2022, when he retired on top after a successful public offering.

However, Volvo’s stock has been sliding since his exit, and he recently accepted a 2-year contract to lead Volvo again as the company tries to find a permanent new leader.

He gave an interview with Bloomberg this week, in which he stated that Volvo remains firmly committed to electrification despite some pullbacks.

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Samuelsson doesn’t mince his words. He understands that the EV transition is difficult on the industry and China’s forceful push toward electrification at a global scale is putting pressure on Western automakers.

He believes that the industry will be fully electric in about 10 years and that some brands won’t survive the transition:

The industry will be electric — there’s no turning back. It may take a bit longer in some regions, but the direction is clear. In (about) 10 years, cars will all be electric and they will be lower cost.

There will be new dominant players, exactly as Ford, GM, Toyota and Volkswagen were in the old world. In the new world, there will be two or three very strong Chinese brands. That makes the room for the old ones tougher. So this will trigger a (wave of) restructuring. Some companies will adapt to new circumstances and survive. Others will not.

He didn’t specify which ones he thinks will not survive, but he is hopeful Volvo will be among those that will remain.

The CEO is also encouraged by the connection with Geely, which has been making great progress in electrification and owns a majority stake in the Swedish automaker.

However, the connection is also causing Volvo some issues, as they have been threatened with a sales ban in the US due to their Chinese ownership.

Electrek’s Take

I think he is right. I’ve been saying it for years, but this is the kind of disruption that companies don’t survive.

It is a huge industry and it moves slowly, especially for some legacy automakers. When you have new startups, such as Tesla and Rivian, which are more nimble, it is genuinely disruptive.

And now that Chinese companies, with their incredible manufacturing pace, are getting involved, as seen with BYD and Xiaomi, it is putting a lot of pressure on existing players.

However, it’s still not clear which ones will and won’t survive.

I’d love to know your best guests of who you think won’t survive the EV transition in the comment section below.