In April 2024, global sales of plug-in electric cars saw a 25% year-over-year increase, signaling continued growth in the sector despite global challenges.
EV-Volumes data, as reported by researcher Jose Pontes, indicates that 1,221,181 new passenger plug-in electric cars were registered worldwide in April. This brought the market share to approximately 18%, up from 16% the previous year.
All-electric vehicle registrations comprised approximately 65% of all electric car registrations in April 2024, totaling nearly 800,000 units—a 14% increase from the previous year. Registrations for plug-in hybrid cars reached almost 430,000, marking a significant 51% year-over-year growth. This rapid increase in PHEVs is primarily driven by the Chinese market. It will be intriguing to see if EVs can sustain this growth rate in the latter half of the year.
Electric car registrations for the month (YOY change):
- BEVs: approximately 794,000 (up 14%), representing a 12% market share
- PHEVs: approximately 427,000 (up 51%), representing a 6% market share
- Total: 1,221,181 (up 25%), representing an 18% market share.
Global Sales of Electric cars in April 2024
In the first four months of this year, over 4.5 million electric cars were registered globally, representing about 17% of the total vehicle registrations.
Electric car registrations from January to April (YOY change):
- BEVs: approximately 2.9 million, capturing an 11% market share
- PHEVs: approximately 1.6 million, capturing a 6% market share
- Total: 4,511,543 (up 29%), representing a 17% market share
For comparison, nearly 13.7 million Electric electric cars were registered worldwide in 2023, accounting for 16% of the total volume. This was an increase from 14% in 2022, 9% in 2021, and 4% in 2020. The year 2024 is projected to be even more successful, potentially nearing 20 million units.
Model Rank
In April, the Tesla Model Y maintained its position as the world’s best-selling electic model, with 68,586 new registrations. However, this figure represents a 7% decrease from the previous year, suggesting limited growth potential.
BYD, on the other hand, dominated the top 10 list with six models, including over 61,000 BYD Song registrations. To make it into the top 10, a model needed to achieve over 15,000 units per month.
Top 10 for the month:
- Tesla Model Y – 68,586
- BYD Song – 61,324 (10,869 BEVs + 50,455 PHEVs)
- BYD Qin Plus – 46,876 (15,494 BEVs + 31,382 PHEVs)
- BYD Seagull (aka Dolphin Mini) – 36,536
- BYD Destroyer 05 (PHEV) – 33,150
- BYD Yuan Plus (aka Atto 3) – 29,654
- Tesla Model 3 – 24,858
- BYD Han – 22,164 (9,514 BEVs + 12,650 PHEVs)
- Volkswagen ID.4 – 15,299
- Aito M9 – 15,139 (2,030 BEVs + 13,109 PHEVs)
*Note: BEV and PHEV versions of the same models were combined in the source.
So far this year, seven of the top 10 electric cars globally are BYD models.
Brand Rank
In terms of brand performance, BYD continues to lead in plug-in electric car sales. In April, BYD sold 309,062 units, more than three times Tesla’s 98,947 units. It’s worth noting that Tesla’s lineup consists solely of all-electric vehicles.
Top 10 for the month:
- BYD – 309,062
- Tesla – 98,947
- BMW – 43,950
- SAIC-GM-Wuling – 35,987
- Volkswagen – 34,662
- Volvo – 32,928
- Mercedes-Benz – 30,894
- Li Auto – 28,471
- Geely – 27,909
- Aion – 26,470
Looking at the first four months of the year, BYD is clearly ahead of all other manufacturers, while Tesla holds its position as the leader in the all-electric car segment and remains the second-highest overall.
Leading Automotive Groups
Top Automotive Groups
The BYD Group leads the global plug-in car market, accounting for 20.8% of all sales. Tesla and Geely-Volvo follow, with 10.8% and 7.8% respectively.
Top automotive groups by share in the plug-in segment (January-April):
- BYD Group: 20.8% (936,446 units)
- Tesla: 10.8% (485,661 units)
- Geely–Volvo: 7.8% (351,742 units)
- Volkswagen Group: 6.3% (285,238 units)
- SAIC: 5.6% (252,469 units), including the SAIC-GM-Wuling joint venture
- Stellantis: 4.0%
- BMW Group: 3.9%
- Changan: 3.8%
- Hyundai Motor Group: 3.6%
Excluding plug-in hybrids, the ranking shifts significantly. Tesla leads in all-electric car sales for the first four months of the year, slightly ahead of BYD.
Top automotive groups by share in the all-electric segment (January-April):
- Tesla: 16.7% (485,661 units)
- BYD Group: 16.2% (469,450 units)
- Geely–Volvo: 7.2% (208,242 units)
- SAIC: 7.1% (205,598 units), including the SAIC-GM-Wuling joint venture
- Volkswagen Group: 6.8% (196,706 units)
- BMW Group: 4.1%
While other manufacturers lag behind, they are making progress. The Volkswagen Group is currently fifth, trailing Geely-Volvo and SAIC.
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