According to Clean Technica, global sales of new energy vehicles reached 1.
74 million in October 2024, an increase of 2.
1% month-on-month and 36% year-on-year, a record high.
New energy vehicles account for 26% of the entire automobile market (pure electric vehicles alone account for 16%).
Sales of pure electric vehicles reached more than 1 million, an increase of 23% over the same period last year.
plug-in hybrids performed even better, up 65% from a year earlier, a record for the fifth month in a row! From January to October, sales of new energy vehicles reached 13460169, with a market share of 20 per cent (pure electric vehicles accounted for 13 per cent), of which 8.
5 million were pure electric vehicles.
, Chinese new energy vehicles account for half of the world’s new energy vehicles TOP20, with the exception of Tesla Model Y and 3, the other 18 are Chinese models.
Among them, Xiaomi SU7 and Galaxy E5 are on the list for the first time, while Tesla Model Y has dropped nearly 30 per cent.
With 13 brands from China on the TOP20 brand list, Geely performed strongly and topped Volkswagen into the top five again, while Ian fell into the top 10 for the first time.
After September, BMW and Volkswagen dropped out of the top five again, while Audi dropped out of the top 20 for the first time.
▍ Chinese models occupy 18 seats, and Xiaomi SU7 tops the list.
Although sales of and Tesla Model Y have dropped by nearly 30% month-on-month, they are still the best-selling new energy vehicles in the world, ranking first on the list.
In the TOP20 model list, Chinese models occupy 18 seats, 11 cars are from BYD, and 7 models are in the top 10.
Among them, BYD Song, Seagull and Qin PLUS all sold more than 40, 000 vehicles, while Qin L and Seal 06 sold nearly 40, 000 vehicles.
Meanwhile, BYD Han, Song L, Destroyer 05, Dolphin and Yuan UP all sold more than 20, 000 vehicles.
Among them, Chinese sales rose 48% month-on-month to 28000 vehicles in the top 10 again, yuan UP sales rose more than 26% month-on-month, surpassing 20, 000 vehicles for the first time, ranking 17th on the list.
destroyer 05 and dolphin sales rose more than 10% month-on-month, ranking 14th and 15th.
In addition to BYD, two Wuling cars, the Hongguang MINIEV and the Wuling colorful fruit, are on the list, and the sales of the Hongguang MINIEV surged more than 18% month-on-month, ranking in the top 10.
It is worth noting that both Xiaomi SU7 and Galaxy E5 are in the top 20 for the first time, while Changan Lumin and Tesla Model 3 are on the list again, and the latter is again in the top 10.
While M7, Geely Panda Mini and Ian AION Y dropped out, and Volkswagen ID.
There is no sign of the series.
▍ Geely first surpassed ideal in the top five, Audi dropped out of the list for the first time, .
In October, BYD’s sales rose 21% month-on-month to 480000 vehicles, a record high, while Tesla’s sales fell 36% month-on-month to only 120000 vehicles.
The gap between BYD and BYD is widening.
Thanks to the hot sales of Galaxy E5, Geely’s sales surged 23% month-on-month to more than 66000 vehicles, surpassing the ideal into the top five for the first time.
With the addition of Geely Star wish and Starship 7, Geely car sales will continue to rise and is expected to be among the top three in the world by 2025.
Zero-running sales surged more than 15% month-on-month to 38000 vehicles, making it into the top 10 for the first time, while Ean sales continued to decline, with October sales of only 32000 vehicles, down 4.
4% from the previous month, falling out of the top 10 to 11th for the first time.
Xiaopeng’s sales rose 16% month-on-month to 24009 vehicles, a record.
The new M03 accounts for half of Xiaopeng’s sales.
With the listing of P7 +, Xiaopeng’s sales will hit a new high and is expected to enter the top 15 of the list.
Thanks to the rise in sales of Deep Blue S07 and S05, Deep Blue sales exceeded 20,000 vehicles for the first time, reaching a record high and entering the top 20 for the first time.
In addition to Deep Blue, Chinese brands Changan and SAIC are on the list again, while Weilai is off the list again.
It is worth noting that both Audi and Kia fell off the list for the first time.
▍ BYD has a market share of up to 24%, .
According to the automobile group, the No.
1 BYD has gained market share again due to the launch of new models, rising from 23.
4% to the current 24% (compared with 22.
1% in the same period last year).
Tesla’s market share is 10.
5 per cent (compared with 13.
4 per cent in the same period last year).
In third place was Geely Volvo, whose share increased by 0.
1% to 8%.
Like BYD, Geely is the only car group that has grown its share in the top 10, from 6.
7% in October 2023 to 8% now.
At the same time, Volkswagen remained in fourth place (5.
8%, down 0.
1%), but lost some advantages over SAIC, which ranked fifth (5.
4%, up 0.1%). Under SAIC, Changan, which ranked sixth, overtook BMW Group, which ranked seventh (3.
5 per cent, down 0.
1 per cent).
Hyundai-Kia, which ranked eighth, fell 0.
1 per cent to 3.
3 per cent, and Stellantis, which ranked ninth, fell 0.
2 to 3 per cent.
Stellantis’s performance is worrying, and it has lost nearly 1/3 of its share in a year (4.
4% in the same period last year and 3% now).
, in terms of the pure electric vehicle market alone, Tesla took the lead with a share of 16.
7%, but its share fell 2.
6% compared with the same period last year.
This was followed by BYD (16.
1%, down 0.1%). With Tesla’s share declining, we expect to see BYD overtake it in the first half of 2025.
Geely-Volvo (8.
2%, up 0.
4%) rose strongly, thanks to the good performance of its many brands, which jumped from 6.
2% in October 2023 to 8.
2% today.
SAIC (7.
4%) is also on the rise, thanks in large part to Wuling, which has a significant advantage over Volkswagen Group, which ranks fifth (6.
7%, down 0.1%). Below the top five, BMW Group (4.
1%, down 0.
1%) ranked sixth, followed by Hyundai-Kia (4%, down 0.1%). On the whole, Chinese brands continue to maintain a strong growth momentum in the global new energy vehicle market.
In October, Chinese brands not only occupied a dominant position in the domestic market, but also made remarkable achievements in the international market.
Traditional Chinese car brands such as Wuling, Geely, Changan and Chery have all achieved steady growth.
At the same time, China’s new car-building forces such as Deep Blue, Zero run and Xiaopeng have also begun to come to the fore in the highly competitive market.
At the same time, the performance of international giants such as BMW and Volkswagen in the global new energy vehicle market is relatively weak, which exposes the challenges they face in the process of new energy transformation.
These traditional giants need to accelerate their pace to adapt to the rapid changes in the new energy vehicle market and the evolution of consumer demand.
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