BYD Tops Global EV Market with 1.24 Million Units Sold by April, Up 43.2%; Tesla Slips to Third

BYD maintained its position as the world’s top electric vehicle (EV) seller in the first four months of 2025, as global EV registrations rose sharply, driven by strong performances from Chinese manufacturers and a recovering European market, according to data released by SNE Research.

Worldwide EV registrations reached approximately 5.81 million units by the end of April, up 34.6% year-on-year, the South Korean research firm said on Wednesday. China’s BYD led the pack with around 1.24 million units sold, marking a 43.2% increase compared to the same period last year. The automaker is targeting 6 million vehicle sales in 2025 and continues to build out its global production footprint with new factories in Thailand, Indonesia, Cambodia, Hungary, and Turkey.

Geely Group secured second place with 616,000 units sold, an increase of 79.4% year-on-year. The company’s diversified brand lineup, including its premium EV brand Zeekr and hybrid-focused Galaxy series, has helped expand its market appeal. Tesla, meanwhile, dropped to third, registering 422,000 units, down 13.4% from the previous year. The U.S. automaker saw significant declines in Europe and North America, attributed in part to delays in launching a facelifted Model Y and tighter inventory levels.

“Tesla’s reduced sales in key markets such as Europe and North America reflect not only logistical challenges but also shifting consumer sentiment,” SNE Research said. “Elon Musk’s political remarks are increasingly viewed as a brand liability.”

Hyundai Motor Group, including Kia, delivered about 190,000 EVs during the same period, an 11% year-on-year rise. The company is preparing refreshed versions of the IONIQ 5 and EV6, while new models like the EV3 and EV9 are helping it strengthen its position, particularly in North America. Kia also unveiled the EV4 and EV2 concept cars in Europe as part of its broader strategy to popularize EV adoption.

China continued to dominate the EV landscape with a 62.2% share of the global market. Factors contributing to its leadership include state tax incentives, improved charging infrastructure, and rising output from domestic brands. Europe followed with 20.9% of the market, posting 26.2% growth, while North America lagged with just 4% growth and a 9.6% market share amid policy uncertainty and reduced subsidies.

Elsewhere in Asia, markets excluding China saw a 37.1% increase in EV adoption, although growth varied widely depending on local policies and infrastructure. Japan is pivoting from hybrids toward battery electric vehicles (BEVs), with Toyota and Lexus expanding their offerings. India has targeted 30% EV penetration by 2030 and is working on enhancing subsidies and charging networks. In Southeast Asia, Thailand and Indonesia are emerging as key production hubs supported by favorable government incentives.

“Automobile manufacturers are engaging in the electric vehicle hegemony competition by not only expanding sales but also responding to regional policy changes, diversifying brands, securing local infrastructure, and pursuing vertical integration strategies including energy and software,” SNE Research said.