Korean Media: Global Electric Vehicle Sales Increased by 21.5% Last Year, Chinese Companies Dominate the Top Two Positions!
On March 9, South Korean media "Herald Economic" published an article stating that last year's global electric vehicle market grew by more than 20% due to the efforts of China and Europe.
Data from SNE Research shows that global electric vehicle sales reached 21.47 million units last year, an increase of 21.5% compared to 2024. Although BYD reduced its sales by 0.6%, it still maintained the top position in global electric vehicle sales with 4.121 million units. SNE Research stated that BYD has established local factories in Europe and Southeast Asia to cope with changes in tariffs and subsidy policies, despite the downturn in the electric vehicle market and saturation of domestic demand.
China's Geely Group remained in second place again. Its annual sales reached 2.225 million units, a 56.8% increase compared to the previous year. Geely Group, which is rooted in the Chinese domestic market, is accelerating the transformation of its internal combustion engine core business structure into electric vehicles and actively expanding the global market.
US-based Tesla ranked third with sales of 1.636 million units, a decrease of 8.6%. The main models Model 3 and Model Y performed weakly in major markets such as Europe and China, leading to a 7% decline in sales, which resulted in an overall decline in sales. Volkswagen of Germany ranked fourth with 1.372 million units, while China's SAIC Motor ranked fifth with 1.349 million units.
Hyundai and Kia achieved sales of 613,000 electric vehicles (an 11.4% increase), ranking eighth in the global market. Hyundai and Kia had long been in seventh place, but recently, due to the significant surpassing of their domestic market sales by Chinese Chery Automobile (728,000 units), their ranking declined.
SNE Research explained that models such as IONIQ 5, EV3, Casper EV, and Creta Electric received positive responses, showing a stable growth trend in the global electric vehicle market where Chinese automakers performed strongly.
From a regional perspective, China accounted for 64.3% of the global market share with sales of 13.808 million units, followed by Europe (4.257 million units), North America (1.736 million units), and other Asian regions excluding China (1.233 million units).
SNE Research said, "The focus of growth last year is shifting from single growth in China to the recovery in Europe and the expansion of the Asian market outside of China. This year, the global electric vehicle market will maintain a slow growth trend, but the volatility across regions is likely to expand."
Original: toutiao.com/article/1859171532480644/
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