Global NEV sales hit 4.02 million in Q1 2025, BYD leads BEV and PHEV markets

Global sales of new energy vehicles (NEVs), encompassing battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs), reached 4.02 million units in Q1 2025, a 39% year-on-year increase, according to TrendForce. NEVs represented 18.4% of total global auto sales for the quarter.
BEV sales grew 45% year-on-year to 2.67 million units. BYD led with a 15.4% market share, followed by Tesla at 12.6%. Geely took third place, driven by a 443% year-on-year sales increase, fueled by the Galaxy E5 and Xingyuan models launched in late 2024, alongside the Panda Mini. XPeng ranked sixth, with nearly half of its Q1 deliveries from the Mona M03. Xiaomi debuted in eighth place with a single model. Among non-Chinese brands, Volkswagen ranked fifth with a 41% year-on-year sales increase, supported by growth in Western Europe despite a decline in China. Volkswagen’s April launch of the “In China, For China” strategy with XPeng and FAW aims to accelerate model development for the Chinese market. BMW placed seventh, relying on European sales due to weaker performance in China. Hyundai, in tenth, saw growth in the US and Europe and began production at its US EV plant to counter tariff impacts.
PHEV sales reached 1.35 million units, up 28% year-on-year. BYD dominated with a 38.7% market share. Geely climbed to third with ...