London-based market research firm Rho Motion released data on EV sales for the January. While certain parts of the country saw sales recede, others rose. All in all, global sales were up 18% in the early going of 2025.

“1.3 million electric vehicles were sold worldwide,” Electrek reported. “That’s down by more than a third from December’s record-breaking numbers, but don’t let that fool [you. January] 2025 still saw an 18% jump compared to the same month last year.”

As mentioned, an increase in sales wasn’t felt across all regions. Sales in China’s EV market dipped, while Europe and the United States ticked higher.

Blip on the Radar Screen?

“Global EV sales are off to a solid, if not spectacular, start in January 2025,” Electrek added. “While China’s numbers took a predictable dip post-holiday rush, Europe is picking up steam, and North America is seeing steady growth.”

Despite the dip in sales for China, it could be a mere blip on the radar screen. As Electrek mentioned, sales were comparatively higher versus the previous year. The dip in sales was an expected occurrence that shouldn’t hamper future growth.

“China’s EV sales were up 12% compared to last January, thanks in part to the ongoing national car trade-in scheme,” Electrek said. “However, sales dropped 43% compared to December, which is typical for this time of year.”

The start of President Trump’s administration kept federal EV tax credits largely in place. There was some concern these would be eliminated in Trump’s second term. But they’ve remained intact thus far. However, stricter requirements could put pressure on manufacturers.

“Despite concerns over Trump’s return to the White House, the federal EV tax credit – up to $7,500 – is still available for many BEVs and one PHEV,” Electrek added. “However, the requirements got tougher in 2025, with stricter sourcing rules for critical EV battery materials.”

An Electric Play in the Interim

Traders can target specific stocks like Tesla to capitalize on strength in the EV industry. However, they can also trade the EV growth trend by placing bets on the entire industry. That’s available with the Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV).

EVAV seeks to achieve 200% of the daily performance of the Indxx US Electric and Autonomous Vehicles Index. It provides double leverage to maximize gains as opposed to simply concentrating on one stock. EVAV contains holdings of domestic EV manufacturers like Tesla and Rivian as well as companies that support the industry like Cerence Inc.

For more news, information, and strategy, visit the Leveraged & Inverse Channel.