According to a recent report by TrendForce, the global market for new energy vehicles (NEVs) is expected to show remarkable growth in the first quarter of 2025. The data indicates that total sales are projected to reach 4.02 million units, reflecting a year-on-year increase of 39%. In contrast, traditional internal combustion engine vehicles are expected to see a sales growth of only 18.4%, highlighting the accelerating shift towards electric vehicles.
In the realm of Battery Electric Vehicles (BEVs), sales are projected to rise by 15.4%, maintaining a strong position in the market. Following that, Plug-in Hybrid Electric Vehicles (PHEVs) are anticipated to capture 38.7% of the market share, marking them as a significant player in the NEV sector.
Specifically, brands like MINI are experiencing substantial demand, with the MINI M03 being a notable mention as one of the top-selling models. The market for compact and affordable electric vehicles is expanding rapidly, with sales soaring by 443%, placing them third among all vehicle types.
Additionally, Chinese brands have made significant inroads into the NEV market, with PHEVs showing a year-on-year increase of 41% in sales during the first quarter, indicating a robust growth strategy aimed at capturing market share.
Looking ahead, TrendForce has forecasted that by 2025, NEV sales will reach approximately 19.6% annually, with significant efforts being made to boost the market for renewable energy vehicles. These developments suggest a long-term upward trajectory for the NEV sector, underpinned by increasing consumer demand and supportive policies.
For more detailed insights and updates on the new energy vehicle market, you can visit the official TrendForce website.
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