Summary
- Global plugin vehicle registrations in September 2024 were up 33% compared to the previous year, reaching 1.7 million units.
- Battery Electric Vehicles (BEVs) saw a 12% year-over-year increase, while plugin hybrids jumped 57%.
- BEVs represented 63% of plugin registrations in September, with Tesla Model Y leading the sales.
- BYD had 11 representatives in the top 20 best-selling EV models, with the Wuling Mini EV surging to 9th place.
- Legacy OEMs did not have any representation in September’s top 20, while the Skoda Enyaq from Volkswagen Group scored a record 10,669 units.
Article
Global plugin vehicle registrations saw a 33% increase in September 2024 compared to the same month in 2023, reaching a new record of 1.7 million registrations. Battery electric vehicles (BEVs) increased by 12% year-over-year to over one million units, while plugin hybrids experienced a 57% jump, selling over 0.6 million units. Overall, plugins accounted for 26% of the auto market, with BEVs alone making up 16% share. Year-to-date, plugin electric vehicle market share reached 20%, with 11.7 million units, of which 7.3 million were BEVs.
In September, the Tesla Model Y led as the best-selling EV with 121,000 registrations, while the Tesla Model 3 came in third with 62,000 registrations, more than double the numbers from September 2023. BYD, a Chinese automaker, had a strong presence in the top 20 EV models with 11 representatives. The Wuling Mini EV also saw a surge in registrations, securing the ninth spot with 29,000 units. Other notable performances included the BYD Lambo Seagull, Qin L, and Seal 06, as well as the Wuling Bingo and Geely Panda Mini.
Several Chinese OEMs showcased impressive performances, with models like Chery’s Fengyun T9 PHEV, Li Xiang L7, Luxeed S7, and XPeng Mona M03 making significant gains in registrations. The Geely Galaxy E5 stood out as a promising addition to the market, achieving 14,250 registrations in its second month. Despite the success of new models and Chinese automakers, legacy OEMs did not have a representative in September’s top 20. However, the Skoda Enyaq, part of the Volkswagen Group, recorded a record 10,669 units in September, showcasing the success of the MEB platform.
Looking at the year-to-date table, the Tesla Model Y and BYD Song held the top positions, with the Tesla Model 3 reclaiming the third spot from the BYD Qin Plus. The rankings for 2024 are expected to remain consistent with those of 2023 and 2022, but the BYD Seagull could challenge the Tesla Model 3’s position in the future. Models like the Wuling Mini EV, Wuling Bingo, BYD Qin L, and Li Xiang L6 made gains in September’s rankings and are expected to climb further by the end of the year. The growth of new models and the competition between Chinese and legacy OEMs suggest an evolving landscape in the EV market.
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