The global battery-electric vehicle (BEV) market saw a significant increase in deliveries during the first quarter of 2025. According to data from EV Volumes, BEV deliveries rose by 37.8% year on year, reaching a total of 2.74 million units. In March alone, registrations surged by 38.5% to 1.13 million.
On the other hand, plug-in hybrids (PHEVs) experienced lower volumes and growth, with deliveries up by 30% in the first three months of the year, totaling 1.56 million registrations. China led the global PHEV market, accounting for 69.8% of all PHEV sales in the first quarter.
In terms of market share, China led both the BEV and PHEV markets, followed by the US, Germany, the UK, and Spain. Tesla dominated the BEV market, with the Model Y emerging as the best-selling BEV globally in the first quarter of 2025. The Model Y was followed by the Tesla Model 3 and the BYD Seagull.
Tesla recently launched a more affordable version of the Model Y, aiming to stay ahead of its competitors. The BYD Seagull also won the 2025 World Urban Car award, further solidifying its position in the market.
In the PHEV market, BYD took eight of the top 10 slots in the first quarter of 2025. The BYD Song Plus and the BYD Song Pro were the top-selling PHEVs globally during this period.
Overall, Tesla continued to lead the BEV market, while BYD showcased prominent performance in the PHEV market. The competition in the electric vehicle market is heating up, with various manufacturers vying for market share and consumer attention. As the industry continues to evolve, it will be interesting to see how these trends develop in the coming months.
