According to recent data from SNE Research, global electric vehicle (EV) deliveries totaled approximately 8.543 million units from January to July 2024. This represents a year-over-year increase of 20.8%.
BYD maintained its position as the global leader in EV sales, delivering 1.841 million units and achieving 25.7% year-over-year growth. The company’s success was driven by strong sales of its plug-in hybrid models and an expanded brand portfolio.
Tesla ranked second in global EV sales, but experienced a 4.9% year-over-year decline. The company faced challenges in Europe and North America, where sales declined 12.2% and 8.3%, respectively.
Geely Group secured third place with its ZEEKR and Panda Mini models performing well in the Chinese market. The group has also expanded its global presence through brands such as Volvo and Polestar.
Hyundai Motor Group reported a 3.7% year-on-year decline in sales to around 312,000 units. However, the company expects growth with the introduction of new models such as the EV9 and EV3.
China continues to dominate the global EV market with a 61.5% market share and growth of over 30% year-over-year. In contrast, Europe experienced slower growth in battery electric and plug-in hybrid vehicle sales, while North America saw a 9.3% year-over-year increase despite challenges in EV demand.
The EV industry continues to face challenges, including tariff increases on Chinese-made vehicles in Europe and North America and changing consumer preferences in some markets. These factors are influencing automaker strategies and market dynamics in the global EV sector.
Source: SNE Research
