Global electric vehicle registrations outside China reached 5.545 million units during the first nine months of this year, marking a 28.0% increase compared to the same period last year, according to market research firm SNE Research. The figure combines sales of both battery electric vehicles and plug-in hybrids.
By manufacturer group, Volkswagen led global EV deliveries with 910,000 units sold, up 67.4% year-on-year. Tesla followed in second place with 785,000 vehicles, representing a 5.8% decline, while Hyundai Motor Group posted 481,000 units, a 17.2% rise from the prior year.
Regionally, Europe accounted for the largest share with 2.981 million registrations, up 32.2%. North America recorded 1.443 million units, an increase of 9.0%, and Asia (excluding China) saw the strongest growth rate at 50.4%, reaching 834,000 vehicles.
SNE Research analyzed that “Europe continues its moderate growth trend centered on new vehicle effects, while North America faces growing concerns about demand slowdown following the end of consumer tax credits,” adding that “automakers are focusing on strengthening localization and platform integration strategies to respond to uncertain policy environments and profitability pressure, while striving to balance production efficiency and technological competitiveness.”
These trends underscore the continued momentum in global EV adoption outside China, even as regional markets face distinct challenges related to incentives, supply chain localization, and regulatory frameworks. Automakers appear to be refining their strategies to maintain growth and profitability amid shifting consumer incentives and intensifying competition.
Source: Business Korea
