The electric vehicle (EV) market has been booming in the first half of 2024, with several brands and original equipment manufacturers (OEMs) vying for the top spot in global sales. According to data from EV Volumes data director José Pontes, BYD emerged as the best-selling EV brand globally in June, with 324,838 registrations of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs). This marked BYD’s second-best result, only behind December’s sales figures.
Following closely behind BYD was Tesla, which secured the second position with 193,684 deliveries in the same month. BMW claimed the third spot with a total of 50,191 units sold, putting the German brand on track to repeat its performance from the previous year.
Li Auto and Volkswagen (VW) rounded out the top five, with Li Auto recording its best monthly total of 2024 at 49,775 registrations and VW achieving a new year-best performance thanks to the success of its ID.4 and ID.3 models. Chinese brand GAC’s Aion also posted its best result for the year with 33,757 units sold.
Further down the list, Nio reached a record 21,382 registrations, while Leapmotor entered the top 20 with 20,223 deliveries. Chinese brands dominated the EV best-sellers list, with 11 brands from China making it to the top rankings.
BYD maintained its lead in EV sales for the first half of the year, with over 1.5 million registrations, followed by Tesla with 830,766 deliveries. Wuling, Li Auto, and Aito secured the next positions, while Kia and SAIC climbed the ranks with strong performances in June.
In terms of manufacturing groups, BYD continued to hold the top position with over 1.6 million registrations, followed by Tesla, Geely-Volvo, and VW Group. The success of Tesla’s Model Y refresh and Geely’s upcoming new models will play a crucial role in determining their market performance in the coming years.
VW Group maintained its fourth position with stable sales, while SAIC faced challenges in catching up with the German carmaker. BMW Group, Changan, and Stellantis held the next spots, with Stellantis experiencing a significant drop in market share compared to the previous year.
Despite Tesla leading the global BEV market with an 18.1% share, the carmaker lost 3.8 percentage points compared to the same period last year. BYD, Geely-Volvo, VW Group, and SAIC rounded out the top five in the BEV market, with BMW Group and Hyundai Motor Group following closely behind.
Overall, the EV market is witnessing fierce competition among brands and OEMs, with Chinese manufacturers making significant inroads into the global sales charts. The coming months will be crucial in determining the trajectory of the EV market and the strategies that brands will employ to maintain their positions.
