From January to July this year, global electric vehicle sales increased by nearly 30% compared to the same period last year. Following the top-ranked Chinese company BYD, Geely Group surpassed Tesla to rank second, while Hyundai Motor Group ranked seventh.
According to market research firm SNE Research on the 3rd, the number of electric vehicles (including plug-in hybrids) registered worldwide from January to July this year totaled 11,029,000 units, a 28.8% increase compared to the same period last year.
By company, BYD maintained its top position in global electric vehicle sales with a 18.6% increase to 2,196,000 units. Its market share fell by 1.7 percentage points to 19.9%.
The second place was taken by Geely Group, surpassing Tesla. Geely Group sold 1,134,000 units, an increase of 70.3%, and recorded a market share increase of 2.5 percentage points to 10.3%.
Tesla ranked third with sales declining by 13% to 829,000 units. Sales of its key models, Model Y and Model 3, decreased, suffering poor performance across major markets including Europe, North America, and China.
Hyundai Motor Group recorded seventh place with a 10.6% increase in sales to 354,000 units. The Ioniq 5 and EV3 drove the sales, and newly introduced localized strategic models, including the Casper Electric (export name: Instar), received positive responses in the market.
By region, China accounted for more than half of the total market at 62.9%. Sales recorded 6,936,000 units, an increase of 32.3% compared to the previous year. Demand for affordable electric vehicles and commercial vehicles increased simultaneously, primarily in major cities.
During the same period, the European market saw an increase of 29.7% with sales of 2.26 million units. The North American market grew to 1,011,000 units, a 0.3% increase. The global market share for Europe and North America was recorded at 20.5% and 9.2%, respectively.