A drive motor for vehicles includes: a stator; a rotor rotatably disposed inside the stator; a hollow shaft disposed inside the rotor, configured to be rotatable with the rotor and including a plurality of through-holes; and a housing configured to accommodate the stator, the rotor, and the hollow shaft, and including a channel, wherein the channel is formed in an inner wall of the housing and is configured to allow an upper side of the inner wall and an interior of the hollow shaft to communicate with each other and allow oil flow therein.