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As reported 24 Channels by data reference TrendForcePlug-in hybrids were the fastest growing segment, with sales increasing by 55.3%. TrendForce reported that 4.12 million vehicles with alternative powertrains
As reported 24 Channels by data reference TrendForcePlug-in hybrids were the fastest growing segment, with sales increasing by 55.3%.
TrendForce reported that 4.12 million vehicles with alternative powertrains were sold worldwide in Q3 2024; This is an important milestone for the industry.
Battery electric vehicles (BEVs) took the largest share at 2.5 million units, representing modest annual growth of 3.9%. The segment is expected to continue growing; The overall new powertrain vehicle market is expected to reach 16.26 million units by the end of 2024, representing a growth rate of 24.8%.
Tesla continues to lead the world in the BEV segment with 18.5% of the market. It is followed by the Chinese company BYD with a 17.5% share. The SAIC-GM-Wuling joint venture ranks third in the world, controlling 7.2% of the market, thanks to its dominance in the compact, affordable electric vehicle segment in China.
Research data / Photo Trend Force
Sales of plug-in hybrid electric vehicles (PHEV) showed strong growth in the 3rd quarter, increasing by 55.3% year on year to 1.6 million units.
Approximately 80% of these sales are concentrated in the Chinese market, where local brands dominate. Seven of the top ten electric vehicle manufacturers are Chinese, led by BYD, which has an impressive 40.1% share of the global market.
Other major players include startup Li Auto with 9.5% and AITO (backed by Huawei) in third place with 6.3%. Geely’s subsidiary Lynk & Co took fourth place with a 2.9% share, just ahead of Mercedes-Benz, the only non-Chinese manufacturer in the top five, with a 2.8% share.
Interestingly, Geely Zeekr ranks tenth with a 2.2% share in the global BEV market, while its sister company Lynk & Co performs significantly better in the PHEV segment. Meanwhile, traditional automakers such as Volkswagen and BMW maintain modest positions; Volkswagen occupies 4.3% of the BEV market and BMW is among the top ten in the PHEV segment with a share of 2.2%.
Source: 24 Tv
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
