From January to October 2025, global new energy passenger vehicle (NEV) sales reached 17.36 million units, marking a 30% year-on-year increase. In October alone, worldwide NEV sales totaled 2.11 million units, up 17% YoY but down 3% month-on-month.
China maintained its dominant position with a 68% share of global NEV sales during this period, peaking at 75% in October. Meanwhile, Chinese automakers expanded their overseas NEV market share to 17.7% in October, a 3-percentage-point increase from September. This represents significant growth from 8.7% in 2024 to 13.8% in the first ten months of 2025.
**Key Market Trends:** 1. **United States:** NEV sales reached 1.4 million units (up 10% YoY) through October, but October sales plunged 32% YoY and 51% MoM to 93,000 units due to high tariffs and subsidy cancellations. 2. **Europe:** NEV sales grew 28% YoY to 2.91 million units (January-October), with October sales up 22% to 294,000 units despite economic headwinds.
**Global Penetration Rates:** - Q4 2025 NEV adoption reached 25.2% worldwide, with stark regional disparities: - China: 49% - Norway: 76% - Germany: 30% - UK: 34% - US: 7% - Japan: 1.7%
**Manufacturer Performance:** - **BYD** solidified its leadership in plug-in hybrids (33.5% global share) and pure EVs (18% share). - **Tesla** (TSLA.US) saw its pure EV share decline from 23% in 2021 to 13%. - **Geely** (00175) emerged strongly, capturing 10.4% of the pure EV market.
**Structural Shifts:** - China commands 63.8% of global pure EV sales and 75.7% of plug-in hybrid sales. - Europe's plug-in hybrid share dropped from 55% in 2021 to 16.5%. - Hybrid vehicle dominance remains with Japanese/Korean automakers (90% combined share).
China contributed 68% of global NEV growth in 2025, continuing its role as the primary driver of worldwide NEV expansion, accounting for approximately 70% of incremental growth in recent years.
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