Korean Media: Global Electric Vehicle Sales Exceeded 20 Million Units Last Year, BYD Leads the Way!

On February 2, Korean media News 1 published an article stating that from January to November last year, global electric vehicle sales exceeded 19 million units, and it is inevitable that annual sales will break through 20 million units. Chinese automaker BYD continues to lead the market, with sales reaching 3.69 million units during the same period.

According to data released by market research company SNE Research, the total number of global electric vehicle registrations from January to November last year was 19.168 million units, an increase of 22.9% compared to the same period in 2024.

By company, BYD maintained its leading position with sales of 3.69 million units, an increase of 0.5% year-on-year. Second-placed Chinese Geely Group continued to maintain strong growth momentum, with sales of 2.014 million units, up 60.9% year-on-year.

Tesla ranked third with sales of 1.459 million units. Tesla's sales decreased by 8%, mainly due to weak sales of its flagship models Model 3 and Model Y. Following are Volkswagen Group, SAIC Group, Changan Automobile, and Chery Automobile. Hyundai and Kia ranked eighth, with sales of 570,000 units, up 12.1% year-on-year.

By region, China, the largest market, saw a 21% year-on-year increase in sales, reaching 12.315 million units, accounting for 64.2% of the market share. The European market performed strongly, with a 32.8% increase, reaching 3.745 million units. The U.S. market only saw a 0.3% year-on-year increase, reaching 1.651 million units. This was influenced by the Trump administration's withdrawal of electric vehicle subsidies, which led to a sharp decline in demand recently. After excluding the Chinese market, sales in other Asian regions grew by 54.8%, reaching 1.091 million units.

SNE Research explained, "The driving force of the global electric vehicle market is rapidly shifting from policy-driven expansion to profitability, supply chain, and price competitiveness. The key to future competition lies not in technological advantages themselves, but in operational capabilities and supply chain dominance that can create stable profits even amid policy fluctuations."

Original: toutiao.com/article/1855999733099532/

Statement: This article represents the views of the author.