GM, BorgWarner Gain as Global EV Sales Climb 21%

Edgen Stock·Dec 23 2025, 18:56

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Key Takeaways

Global electric vehicle sales have demonstrated robust growth through 2025, fueled by strong consumer demand and government incentives, particularly in Europe. This trend is creating significant tailwinds for established automakers and specialized parts suppliers that are pivotal to the EV supply chain.

Global EV sales reached 18.5 million units year-to-date in November 2025, a 21% increase from the previous year.
European demand was a primary growth driver, with sales climbing 36% year-over-year in November, supported by new and expanded subsidy programs.
Auto stocks are capitalizing on the trend, with General Motors (GM) stock gaining 69.4% over the past six months while BorgWarner (BWA) and Blue Bird (BLBD) also show strong performance.

Global EV Sales Expand 21% in 2025, Driven by European Demand

Global electric vehicle sales reached approximately 18.5 million units year-to-date as of November 2025, marking a 21% increase compared to the same period in 2024. The month of November alone saw 2 million EVs sold. This growth means EVs now represent over a quarter of all new cars sold worldwide in 2025. Europe was a significant contributor to this momentum, with November sales increasing 36% year-over-year, spurred by new government incentives in France and Italy and expanded subsidy programs in the United Kingdom. Looking ahead, global EV penetration is projected to reach 26.7% in 2026, with emerging markets in the Middle East and Africa expected to see faster adoption as more affordable models become available.

General Motors Captures 16.5% of US EV Market

General Motors is solidifying its position in the electric transition, holding the #2 spot in the U.S. EV market with 67,000 deliveries and a 16.5% share in the third quarter of 2025. The company remains the top-selling automaker overall in the United States, with a 17% total market share. Investors have responded positively to its strategy, with GM's stock gaining 69.4% over the past six months. The company's outlook remains strong, with the Zacks Consensus Estimate for fiscal 2026 earnings per share implying a 12.9% year-over-year growth.

Suppliers BorgWarner and Blue Bird Forecast Strong 2026 Growth

Key suppliers in the EV ecosystem are also benefiting from the market's expansion. BorgWarner, a leader in clean vehicle technology, has seen its stock rise 35.9% over the past six months after securing 17 new programs, including a major integrated drive module contract for a Chinese automaker. The company forecasts its EPS will grow 6.8% in fiscal 2026. Simultaneously, niche manufacturer Blue Bird, which specializes in electric and low-emission school buses, has gained 21.3% in the same period. The company reiterated its fiscal 2026 guidance, projecting $1.5 billion in revenues and $220 million in adjusted EBITDA, signaling confidence in sustained profitable growth.