THE EV SECRET IS OUT: THIS HIDDEN TRUTH PLUNGED CANADIAN SALES BY 33%
The auto industry’s transition toward electrification has been bumpier than anticipated. Shifting consumer preferences, evolving regulatory landscapes, and diverse market demands have forced automakers to adapt quickly. Despite a slight slowdown in growth, new data shows that electrified vehicles continue to gain market share.
In the first eight months of this year, approximately 12.5 million BEVs and PHEVs were sold worldwide—a significant 25 percent year-over-year increase, driven by strong demand in key markets. However, North America is lagging behind this global trend.
A Continent Out of Step
Data from Rho Motion shows that North American BEV and PHEV sales reached 1.3 million units this year, a modest 6 percent increase from last year. By comparison, Europe posted a 31 percent surge, China recorded a 25 percent gain, and the rest of the world experienced robust 44 percent growth, totaling about 1 million units.
Canada’s market woes are dragging down North America’s overall performance. Following the suspension of the iZEV rebate earlier this year, Canadian BEV and PHEV sales have plunged by one-third year-to-date. Meanwhile, U.S. sales have continued to grow, with a notable spike in August as consumers rushed to take advantage of the federal EV tax credit before its September 30 expiration.
Slowing Momentum
In August, global BEV and PHEV sales rose 15 percent year-over-year, marking the slowest growth since January. Total sales for the month reached 1.7 million units, a 5 percent increase from July.
China, the world’s largest EV market, illustrates this slowdown. Sales grew 6 percent compared to August 2022, but the pace fell short of expectations. Last year’s numbers were boosted by unusual spikes in July and August, when China expanded its new energy vehicle trade-in program — making this year’s performance appear relatively weaker.
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2025-11-15T01:52:10Z