Summary
- BYD had the highest market share of plugin vehicle sales in 2024
- Tesla saw a decrease in market share in 2024 compared to the previous year
- Geely gained market share and is a potential challenger to Tesla in 2025
- Volkswagen Group lost market share but remained the leader among legacy OEMs
- The top 5 OEMs in 2025 for xEV and BEV categories are projected to be BYD, Geely, Tesla, SAIC, and VW Group.
Article
The 2024 World EV Sales Report series concludes with a look at the automotive groups or alliances that sell the most plugin electric vehicles and the most pure 100% electric vehicles. BYD continues to dominate the market with a 24.7% share of plugin vehicle sales, followed by Tesla with a 10.4% share. Geely, in third place, gained market share and is poised to challenge Tesla in 2025. Volkswagen Group and SAIC round out the top five automotive groups in the plugin electric vehicle market.
Looking specifically at battery electric vehicles (BEVs), Tesla remains the leader with a 16.5% share of the market. BYD follows closely behind with a 16.3% share, even though it has shifted its focus to PHEVs. Geely showed significant progress in 2024, jumping to third place in BEV sales. SAIC surpassed Volkswagen Group in BEV sales, indicating a trend towards BEV-heavy lineups among Chinese OEMs.
The top players in the A, B, and C leagues remain consistent when comparing BEV and PHEV sales. BYD, Tesla, Geely, SAIC, and Volkswagen Group continue to dominate the market across both categories. Looking ahead to 2025, the top five OEMs in both the xEV and BEV categories are predicted to be BYD, Geely, Tesla, SAIC, and Volkswagen Group.
Overall, the report highlights the continued growth and dominance of Chinese OEMs in the plugin electric vehicle market. With BYD leading the way and Geely making significant gains, the competition with Tesla and legacy OEMs like Volkswagen Group is intensifying. The shift towards BEVs is evident in the market, with Chinese OEMs like SAIC focusing more on electric vehicles. The 2025 race for top OEMs is expected to be highly competitive as the cleantech revolution accelerates.
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