Global EV deliveries reach 16.06 million units in first 9 months, up 5.8%

Global electric vehicle deliveries reached 16.061 million units in the first nine months of this year, up 5.8 percent from the same period last year, SNE Research said Tuesday. The figure combines battery electric vehicles and plug-in hybrid electric vehicles.

September deliveries totaled 2.268 million units — the highest monthly figure so far this year — but the year-on-year growth rate was limited to 2.2 percent, reflecting continued weakness in China's domestic market.

By vehicle type, BEV deliveries rose 13.6 percent to 11.628 million units, while PHEV deliveries fell 10.4 percent to 4.433 million units. The BEV share climbed 5.0 percentage points to 72.4 percent from 67.4 percent. Markets outside China grew 30.0 percent to 7.334 million units.

By region, China remained the largest market with 8.726 million units, but deliveries fell 8.6 percent and its market share slipped to 54.3 percent. BEV deliveries edged up 0.2 percent while PHEVs dropped 24.3 percent. September deliveries were down 13.0 percent year-on-year, which SNE Research attributed to a front-loading of purchases last year ahead of subsidy cuts in some regions.

Europe posted 3.954 million units, up 32.2 percent, lifting its share 4.9 percentage points to 24.6 percent. BEV deliveries rose 37.7 percent and PHEVs gained 20.8 percent. Among individual countries, Germany jumped 42.1 percent, France 54.3 percent and Italy 73.5 percent. Germany reinstated EV purchase subsidies for low- and middle-income households starting this year.

North America delivered 1.115 million units, down 25.2 percent, with its share falling 2.9 percentage points to 6.9 percent. September deliveries fell 35.9 percent, as purchases had been concentrated last year ahead of the expiration of the US EV tax credit at the end of September. Third-quarter deliveries in the United States were roughly in line with the second quarter, while BEV and PHEV deliveries for the first nine months fell 20.8 percent and 41.1 percent, respectively.

Asia excluding China reached 1.498 million units, up 74.7 percent, and its share rose 3.7 percentage points to 9.3 percent. Indonesia led growth at 116.1 percent, followed by Thailand at 78.0 percent, Vietnam at 75.9 percent, South Korea at 69.4 percent, Japan at 69.3 percent and India at 59.4 percent. Other regions totaled 767,000 units, up 155.4 percent, with Brazil gaining 147.1 percent and Australia 132.9 percent.

Among automaker groups, BYD held first place with 2.565 million units, but deliveries fell 15.4 percent and its market share dropped 4.0 percentage points to 16.0 percent. Domestic China deliveries fell 32.9 percent to 1.709 million units. Overseas volumes grew, however, with European deliveries up 78.8 percent to about 300,000 units and Asia excluding China up 55.9 percent.

Second-ranked Geely delivered 1.586 million units, up 2.5 percent, while third-ranked Tesla rose 8.8 percent to 1.325 million units. Tesla saw declines of 11.9 percent in China and 2.3 percent in North America but gained 29.7 percent in Europe and 75.8 percent in Asia. Fourth-ranked SAIC grew 18.3 percent to 1.026 million units, overtaking Volkswagen's roughly 1.018 million units.

Among Chinese automakers, Changan delivered 671,000 units, up 3.4 percent, to rank sixth. Chery rose 35.7 percent to 654,000 units, with its European deliveries jumping 307.2 percent. Leapmotor posted the highest growth rate among the top 10 groups, surging 66.2 percent to 610,000 units. Domestic China deliveries rose 45.2 percent, and European deliveries through Stellantis's sales network jumped 434.5 percent. Leapmotor's market share climbed 1.4 percentage points to 3.8 percent, placing it eighth.

Hyundai Motor Group ranked ninth with 575,000 units, up 19.0 percent, as its market share rose from 3.2 percent to 3.6 percent. Deliveries grew 23.4 percent in Europe and 64.3 percent in Asia excluding China, but fell 27.3 percent in North America. BMW ranked 10th with about 430,000 units, down 2.6 percent.

Deliveries from groups outside the top 10 rose 9.7 percent to 5.601 million units. Toyota, ranked 11th, and the Renault-Nissan alliance, ranked 12th, grew 61.6 percent and 31.5 percent, respectively, while Stellantis fell 5.1 percent and Mercedes-Benz declined 3.0 percent.

SNE Research identified three key factors that will determine full-year results in the fourth quarter: whether China's domestic demand recovers, the extent of a US market rebound, and whether Europe's growth momentum holds. China began levying a consumption tax on lithium-ion batteries for domestic use in September and plans to abolish the export VAT rebate on batteries in January 2027. In Europe, discussions are underway on the Industrial Acceleration Act, which includes local-content production requirements, making expanded local manufacturing by Chinese automakers and their supply of entry-level models a key variable in the market-share competition.