Global EV market reaches new record
22 November 2024
The global electric vehicle (EV) market hit a record 1.7 million registrations in September. But which models helped to push the volume upwards? José Pontes, data director at EV Volumes, reviews the latest data with Autovista24 editor Tom Geggus.
Combined global sales of battery-electric vehicles (BEVs) and plug-in hybrids (PHEVs) increased 33% year on year in September. EVs accounted for 26% of the worldwide new-car market, with BEVs making up 16% alone.
Deliveries of the all-electric powertrain increased by 12% to roughly one million units in the month. Meanwhile, PHEVs recorded exceptional growth of 57%, reaching over 600,000 units.
BEVs made up 63% of the global EV market in September. A year ago, the technology accounted for 70% of the plug-in sales.
Between January and September, 11.7 million EVs were sold, accounting for 20% of the global new-car market. All-electric cars represented 12% singlehandedly, with 7.3 million deliveries.
Tesla Model Y leads
The Tesla Model Y led the EV market in September with some 121,084 registrations. The BYD Song came second, reaching 63,392 deliveries. Then, the Tesla Model 3 finished the month in third, recording 62,085 registrations.
The BYD Seagull, known as the Dolphin Mini in some markets, took fourth with a record 50,815 units. Then came the BYD Qin Plus in fifth with 50,815 deliveries.
In only its fourth month on the market, the BYD Qin L took sixth with 39,657 units. The Seal 06 claimed seventh with 38,276 registrations, a strong result in its third month on the market. The BYD Song L took 11th with 25,339 deliveries, its second record score in a row.
Record-breaking month
The best-selling EV from outside the Tesla and BYD marques was the Wuling Mini EV. The model surged ahead to ninth in September with 28,927 sales, its best result since February 2023. It unseated the Li Auto L6, which was the top non-Tesla, non-BYD model in August. Instead, the L6 ended the month in 10th with 25,393 deliveries.
Hitting a new best for 2024, the Wuling Bingo took 12th with 24,300 sales. This put it ahead of the BYD Dolphin by 4,011 units. The Geely Panda Mini also had a record-breaking month, with 17,551 deliveries putting it in 17th.
Outside of the top 20, the Geely Galaxy E5 recorded 14,250 deliveries in only its second month on the market. This model speaks volumes about Geely’s expectations for its compact crossover.
The Chery Fengyun T9 PHEV hit 11,156 sales in its fourth month on the market. Meanwhile, the Li Auto L7 recorded 13,476 registrations, its best result since January. Then the Huawei-backed Luxeed S7 managed a record 14,674 registrations, its first five-digit score.
The XPeng Mona M03 had an impressive introduction to the market, with 10,023 units delivered. It can be expected to join the top 20 soon.
Volkswagen (VW) Group saw the VW ID.3, VW ID.4, Audi Q4 and Skoda Enyaq reach above 10,000 units. This included a record 10,669 for the Enyaq. The results indicate that the MEB platform has become a success story, despite the carmaker’s current troubles.
A familiar top three
Between January and September, the Tesla Model Y and BYD Song continued to hold first and second respectively. The Tesla Model 3 recovered third from the BYD Qin Plus, ending the month ahead of the Chinese sedan by 18,190 units.
The Model 3 can be expected to retain this position through to the end of the year. The Tesla Model Y should finish first, followed by the BYD Song in second. This will effectively mirror the results recorded in 2023 and 2022.
This status quo is likely to be upset in 2025 though. The BYD Seagull will continue to grow and threaten the Tesla Model 3’s position, and maybe even challenge the BYD Song in second.
In eighth, the BYD Dolphin was the next model in a possibly precarious position. The Wuling Mini EV experienced a new wind which pushed it up to ninth across the first nine months of the year. This could indicate a close challenge for the BYD hatchback, should these strong results continue.
The Wuling Bingo jumped two positions to 12th, while the BYD Qin L took 13th. It looks set to climb a few more positions in the coming months. The new generation is preparing to take a spot in the top five next year. Finally, the Li Auto L6 was also on the rise, jumping four positions to 16th. Expect the midsize SUV to climb a few more positions by the end of 2024.
