36.4% Increase from January to September
According to SNE Research, an energy market research company, on Nov. 8, the number of electric vehicles registered worldwide from January to September reached 9.66 million units, a 36.4% increase compared to the same period last year.
BYD, a Chinese company, maintained its top position with a 71.7% growth rate from the previous year, selling a total of 1.993 million EVs by the third quarter. Tesla, ranking second, delivered 1.32 million units to customers, marking a 45.7% increase, with strong sales of its Model 3 and Y series. Volkswagen Group came in third, with sales of around 680,000 units driven by its ID series and Audi Q4 and Q8 E-Tron models.
Hyundai Motor Group advanced to seventh place with a 10% growth rate, selling 421,000 units led by Hyundai’s Ioniq 5 and 6, Kona, and Kia’s EV6 and Niro models.
In terms of regional EV registrations, China dominated with a 57.9% market share, followed by Europe (23.4%) and North America (12.4%).
Despite the electric vehicle demand showing signs of slowing due to high interest rates and prolonged economic downturn, SNE Research noted that the market is likely to continue its growth centered on the demand for mid to low-priced electric vehicles while maintaining the price-oriented trend, following an inevitable medium to long-term shift towards electric vehicles.