The passenger electric vehicle (EV) market reached a new high in September 2025, with 12,113 units registered—a 5.9% increase compared with August and nearly double the number recorded in September 2024.
Industry analysts Automotive Market Research Institute point to three key factors driving the surge: rising fuel prices, growing consumer interest in EVs due to improved features and falling prices, and the looming VAT adjustment on electric car imports scheduled for January 1, 2026.
“The approaching VAT change appears to be the strongest incentive for buyers,” said experts from the Institute for Automotive Market Research. “In just a few months, the cost of EVs could rise by nearly a third, prompting many motorists to act now.”
Analysts anticipate that the upward trend will continue through the end of the year, as buyers rush to take advantage of the current tax regime. However, once the VAT adjustment takes effect, the market is expected to experience a temporary slowdown before stabilizing and resuming gradual growth.
Earlier forecasts had predicted that the 2025 electric car fleet would surpass last year’s full-year numbers in under nine months—a projection that has proven accurate. Between January and September 2025, a total of 55,400 electric vehicles were registered, exceeding 2024’s annual total of 52,100.
The market’s performance underscores the increasing adoption of electric mobility, as consumers respond to both economic incentives and broader trends in sustainability.
