Global Electric Vehicle Market Share: Quarterly

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Global Electric Vehicle Market Share: Quarterly

Nov 26, 2024

Global EV Market Share Q3 2024
Brands	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Tesla	17%	22%	20%	17%	16%	20%	17%	17%
BYD Auto	14%	14%	15%	17%	18%	15%	17%	16%
Geely Holdings	7%	8%	6%	6%	6%	8%	7%	9%
Others	62%	56%	59%	60%	60%	57%	59%	58%

Global Electric Vehicle Market Highlights

Key Takeaways:

In Q3 2024, global sales* of battery electric vehicles (BEVs) increased by 9% YoY.
China dominated the market, making up 61% of global BEV sales. It was followed by the US and UK.
The UK overtook Germany to become Europe’s largest BEV market during the quarter.
Tesla continued to lead the BEV market, with BYD Auto close behind.
Tesla’s Model Y and Model 3 and BYD’s Seagull were the best-selling models.
Notably, the Seagull surpassed BYD’s Yuan Plus (Atto 3) to claim the third spot.

Top 3 BEV Players:
Tesla: Tesla continued to be the top-selling BEV brand, with its sales in Q3 increasing by 7% YoY. The Model Y and Model 3 retained their positions as the best-selling EV models worldwide.

BYD Auto: In Q3 2024, BYD's sales increased by a modest 3% YoY. The Seagull, Yuan Plus (Atto 3) and Dolphin were the company’s top-selling models. BYD exported 95,000 vehicles, including plug-in hybrids, during the quarter. Of these exports, 32% were sold in Latin America and nearly 27% in Southeast Asia. These two regions remained the key areas of expansion for BYD as well as other Chinese EV manufacturers.

Geely Holdings: Geely’s BEV sales grew by 58% YoY in Q3 2024. Zeekr, Volvo and Geometry together made up nearly 60% of the OEM’s BEV sales. The Geometry Panda Mini, Galaxy E5 and Volvo EX30 were the top-selling BEV models, collectively representing more than one-third of Geely’s BEV sales.

*Data on this page is updated every quarter

Sales* here refer to wholesale figures, i.e. deliveries out of factories by respective brands.

For EVs, we consider only BEVs. PHEVs, HEVs and fuel cell vehicles (FCVs) are not included in this study.

For detailed insights on the data, please reach out to us at sales(at)counterpointresearch.com. If you are a member of the press, please contact us at press(at)counterpointresearch.com for any media enquiries.

For a more detailed electric vehicle model sales tracker, click below:

Global Passenger Electric Vehicle Model Sales Tracker: Q3 2024

Excel File | Published Date: November 2024

This report tracks the global passenger vehicle sales by brand and by model across 23 regions (China, USA, Germany, UK, France, Spain, Japan, India, Italy, South Korea, Thailand, Indonesia, Vietnam, Brazil, Argentina, Russia, Malaysia, Philippines, Singapore, ROE, LATAM, MEA and Oceania) quarterly. The report will help to understand regional trends, brand dynamics and type of EV penetration. The period covered in this report is from Q1 2018 to Q2 2024.

Author

Team Counterpoint

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