Forecast: In the first quarter of 2025, the global sales of new energy vehicles are expected to reach 400,000 units.
On May 21, 2025, TrendForce released its latest report on the forecast for new energy vehicle sales. The report predicts that the total sales of battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles will reach 402,000 units, representing a 39% year-on-year increase.
Within this category, the share of new energy vehicles in the total automotive market is projected to be 18.4%. Specifically, BEVs are expected to continue leading the market, with a market share of 15.4%, while Tesla remains the top-selling brand with a 12.6% share.
In terms of sales growth, the second-ranked brand, BYD, is expected to experience a remarkable 443% increase, capturing 6.9% of the market share. The sixth-ranked brand, Xiaopeng, is predicted to hold a 3.5% market share.
Among the top-selling PHEVs, the first-ranked model is expected to cover approximately 38.7% of the market share, while BYD ranks third overall. The seventh-ranked brand is projected to see a 47% year-on-year increase in sales volume.
With the growing demand for new energy vehicles, companies are intensifying their production efforts. For instance, the recent launch of the Xiaopeng YU7 in a new color, “Guardian Green,” showcased a staggering 142% increase in sales, along with a remarkable 331% growth in the overseas market.
Following its recent success, Xiaopeng has also announced plans for the YU7, which is expected to be a significant player in the new energy vehicle market. The company aims to maintain its momentum through strategic innovations and marketing initiatives.
This trend indicates a robust future for new energy vehicles, with significant advancements anticipated in technology and production capabilities. As manufacturers continue to innovate and expand their offerings, the market landscape will likely evolve to meet the increasing consumer demand for sustainable transportation options.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/global-electric-vehicle-sales-expected-to-reach-4-million-units-in-first-quarter-of-2025/
