Zhong Guo Qi Che Bao Wang·2025-11-28 06:21Core Insights - Global electric vehicle (EV) sales in September increased by 22% year-on-year, surpassing 2.1 million units, marking a historical high [1] - The sales of pure electric vehicles grew by 32% to a record 1.4 million units, while plug-in hybrid vehicles (PHEVs) saw a modest growth of 6% to approximately 700,000 units [1] - The slowdown in demand for PHEVs in China is noted as a significant factor affecting global sales growth [1] Global Market Overview - Cumulatively, from January to September, global EV sales reached 14.57 million units, a 20% increase year-on-year, with a market share rising to 25% [1] - In China, the penetration rate of new energy vehicles (NEVs) has exceeded 50%, with predictions suggesting that annual NEV sales could surpass 16 million by 2025 [1][5] China Market Dynamics - In the first nine months of the year, China's automotive production and sales both exceeded 24.4 million units, with year-on-year growth of 13.3% and 12.9% respectively [4] - NEVs accounted for 46.1% of total new car sales in China, with NEV sales exceeding 11 million units, reflecting a growth of over 30% [5] - The penetration rate of NEVs in the Chinese market reached 53.7% in September, with NEV passenger vehicles at 56.5% [5] Brand Performance - BYD maintains a significant lead in the market, while Tesla's sales continue to decline, widening the gap between the two [2][15] - BYD's domestic sales growth has slowed, but its overseas market performance is strong, with a 132% increase in overseas sales to over 700,000 units [15] - New entrants like Leap Motor and Xiaomi are gaining traction in the market, indicating ongoing shifts in market dynamics [2][16] European Market Trends - In the EU, new car registrations increased by 0.9% year-on-year, driven by a recovery in the electric vehicle market [7] - Hybrid vehicles remain the top choice among EU consumers, while pure electric vehicle sales grew by 24.1% to 1.3 million units [7] - Chinese brands are gaining market share in Europe, with a record 7.4% share in the passenger car market [9] U.S. Market Insights - U.S. electric vehicle sales reached 1.04 million units in the first nine months, a growth of 11.7% [10] - The end of federal tax credits has led to a surge in sales as consumers rushed to take advantage of the incentives before they expired [10] - Tesla remains the top seller in the U.S. market, but its market share has decreased from 80% to approximately 43% over the past four years [10][11] Model Rankings - In the global electric vehicle sales rankings for the first three quarters, Chinese brands secured 17 out of the top 20 spots, with BYD leading with nearly 3 million units sold [12][18] - The Tesla Model Y remains the best-selling electric vehicle globally, while the Tesla Model 3's sales have stagnated [12][18] Future Outlook - The market dynamics indicate a potential slowdown in growth for PHEVs and hybrids, as competition from traditional fuel vehicles intensifies [6] - The overall market environment is shifting, with many automakers adjusting their electric vehicle strategies in response to changing consumer preferences and regulatory landscapes [17]