Global New Energy Vehicle Sales Update in Q2 2024
TapTechNews August 22nd news, the market research institute TrendForce today released a research report stating that in the second quarter of 2024, the global sales of new energy vehicles (including pure electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell vehicles) reached 3.769 million units, an increase of nearly 30% compared to the previous quarter and a year-on-year growth of 24.2%.
Although Tesla still occupies the first place in the pure electric vehicle market share, its sales have decreased compared to last year. BYD has a stable sales performance in the pure electric vehicle market, and the market share of plug-in hybrid electric vehicles in the second quarter also exceeded 36%.
The market conditions of various types of vehicles (pure electric vehicles, plug-in hybrid vehicles) are as follows:
The global sales of pure electric vehicles (BEV) in the second quarter of 2024 was 2.328 million units, with a year-on-year growth of 8%.
The sales of Tesla, which ranks first in market share, has decreased by 4.7% compared to the same period last year. In order to stimulate market demand, Tesla has launched measures such as price reductions and preferential interest rates in the two major markets of China and the United States.
BYD (excluding Denza) ranks second, and the BEV sales have increased by about 20% compared to the same period last year. In addition, BYD has a strong performance in overseas sales, and exported more than 100,000 new energy vehicles including pure electric vehicles in the second quarter.
The brands ranked third to fifth in this quarter are Volkswagen, SAIC-GM-Wuling, and BMW, and the market share differences of these several brands are not significant.
NIO's sales in this quarter increased by 144% compared to the same period last year and jumped to the seventh place.
Zeekr, a brand under Geely Holding Group, ranks ninth, and the sales mainly come from the Zeekr 001 model.
The global sales of plug-in hybrid electric vehicles (PHEV) in the second quarter of 2024 reached 1.439 million units, with a year-on-year growth of 64.2%, and the top four are all Chinese brands.
The market share of BYD brand has increased to 36.1%, far exceeding that of Li Auto, the second place. AITO (TapTechNews note: recorded as Ao Tu in the chart) and Changan rank third and fourth respectively.
Volvo Cars and Mercedes-Benz rank fifth and sixth, and the PHEV sales of BMW in the second quarter are the same as that of the same period last year, ranking eighth.
The tenth-place Jeep, although its sales and ranking have both declined, is still the best-selling PHEV brand in the United States. Currently, only seven PHEV models in the United States have received federal government subsidies, and two of them are produced by Jeep.
