The Automakers Selling the Most EVs in the World Are …

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Following up on our tales concerning the best selling plugin vehicles in the world and the automotive brands that sell the most plugin electric vehicles in the worldwe’re now closing out the 2024 World EV Gross sales Report sequence with a take a look at the automotive teams or alliances that promote probably the most plugin electrical autos and that promote probably the most pure 100% electrical autos.

If we collect plugin automobile gross sales by automotive groupBYD (24.7% share of the plugin automobile market) repeated the 2023 title win, with a mammoth 14.3% share (or over 2.4 million unit) benefit over Tesla (10.4%, down from 13.2% share in 2023). BYD gained 0.3 share level in comparison with November, and a big 2.7% factors in comparison with a yr in the past.

These tendencies say that BYD possibly nonetheless hasn’t peaked with regards to market share development, and with the Shenzhen OEM set to develop by some 30% YoY in 2025, it’d effectively surpass the 25% share barrier in 2025.

As for Tesla, the return to development is the motto for 2025, so even marginal development can nonetheless be thought of as constructive — which could imply that the US model’s EV share will fall beneath the ten% mark for the primary time since 2017.

Making an attempt to catch Tesla, #3 Geely ended the yr gaining a bit extra share, +0.1% to eight.3%, which is a big 1.5% acquire in market share YoY. And this may place it on orbit to problem Tesla in 2025. It is going to rely a lot on what will occur to Tesla in 2025, however after climbing from 4th to third in 2024, I wouldn’t be shocked if Geely as soon as once more rose one spot in 2025….

With all of the recent metallic coming from the Geely steady subsequent yr, which might be probably the most prolific on the planet, I’ll even say the Chinese language OEM is beginning the yr because the favourite for the silver medal.

Within the B LeagueVolkswagen Group was 4th, nevertheless it misplaced 0.1% market share within the final month of the yr, all whereas dropping 1.6% in comparison with 2023. Regardless of this, one can say that the German OEM is with none doubt the chief amongst legacy OEMs.

Nonetheless within the B Leaguea rising SAIC (5,6%, up from 5.5% in November) got here near displacing Volkswagen Group from the 4th spot. If the yr had a thirteenth month, it’d even have surpassed it….

Anyway, Shanghai Auto is benefitting from the present successful streak of Wuling, nevertheless it must get the remaining lineup of manufacturers serving to out in 2025, as a result of successful streaks will not be everlasting.

Within the C-League, whereas Stellantis (2.7% in 2024, down from 4.2% in ’23) has mainly disappeared from the radar (it had been sixth in 2023), the principle winner was Changan (3.6% now, up from 2.9% in 2023), which jumped into sixth. BMW Group (3.4% in ’24 vs 4.1% in ’23) retained seventh place (2nd amongst legacy OEMs) and must be glad to remain someplace round this place in 2025.

One other winner on this league throughout 2024 was Hyundai–Kia, which climbed one place to eighth. Though, it has misplaced important share, because it ended 2024 with 3.1% share, removed from the three.7% of 2023 or the 4.6% of 2022.

Trying solely at BEVsTesla once more received the title, with 16.5% share of the worldwide BEV market. However this result’s a big loss from the 19.1% share of 2023, and much from the 23% it had on the finish of 2020.

The silver medal once more went to BYD (16.3%), which apparently additionally misplaced share (-0.2%) in comparison with 2023! That is defined by the truth that BYD is now betting closely on PHEVs and leaving BEVs on the bench.

Nonetheless, it grew its volumes by nearly 200,000 items in opposition to a stagnating Tesla, which meant that Tesla received in 2024, sure, however by solely 25,000 items, so 2025 can be an attention-grabbing race between these two. If BYD is anticipated to proceed rising reasonably — say, by rising 15% YoY — that may imply the Chinese language OEM would finish the yr barely north of two million items.

Now, can Tesla attain 2 million items in 2025? Focus on.

Elsewhere, Geely was the OEM that almost all progressed within the prime 5, including greater than 300,000 BEV gross sales to its tally, to over 900,000 in 2024. That allowed it to leap from fifth in 2023 to third in 2024, successful its first medal and rising its share from 6.2% to its present 8.5%.

How excessive will Geely go? Contemplating its potential on the BEV enviornment, I wouldn’t be shocked if the Chinese language OEM was competing for #1 round 2028 or 2029….

#4 SAIC ended 2024 forward of Volkswagen Group. It ended the yr with 7.6% share, down from 7.9% in 2023. And much from the 9.3% share it had on the finish of 2022.

Volkswagen Group (6.9% in 2024, down from 7.8% in 2023) dropped one place in comparison with 2023, however ought to keep protected in fifth in 2025, as Chinese language OEMs are actually turning to PHEVs and EREVs. The remaining legacy OEMs ended 2024 far behind Volkswagen Group (BMW had 4% share in 2024 and Hyundai–Kia 3.8%).

Taking a look at these outcomes compared to the BEV+PHEV tables and charts, it’s the similar prime 5 gamers. The variations are place modifications between BYD and Tesla (with Tesla profiting within the BEV chart from being 100% BEV) and one thing related taking place to SAIC in opposition to Volkswagen Group (as its lineup is way more BEV-based than the fleets of Volkswagen Group).

However, total, the gamers within the A, B, & C leagues don’t change considerably, with or with out PHEVs being included.

My bets for the 2025 prime 5 OEMs:

tape

1. BYD
2. Geely
3. Tesla
4. SAIC
5. VW Group

BEV

1. BYD
2. Tesla
3. Geely
4. SAIC
5. VW Group

What are your bets?