Hyundai Motor Displays High-Performance Electric Vehicle “IONIQ 6 N” at the 2025 LA Auto Show (Image provided by Hyundai Motor and Kia)
SEOUL, Dec. 4 (Korea Bizwire) — Global electric-vehicle registrations topped 17 million in the first ten months of 2025, rising 25.5 percent from a year earlier despite widening divergences in regional demand and policy environments, according to new data released Wednesday by market research firm SNE Research.
Worldwide EV sales — including plug-in hybrids — reached 17.1 million units through October, up from 13.6 million during the same period in 2024.
China’s BYD retained its position as the world’s top EV maker, selling 3.32 million vehicles, a 4.8 percent increase. The company has accelerated factory construction and expansion across Europe and Southeast Asia, helping it respond flexibly to shifting tariffs and subsidy rules while broadening its portfolio to commercial and small vehicles.
Geely Group ranked second with 1.78 million EVs sold, surging 64.7 percent year-on-year as its popular small EVs and premium Zeekr brand continued to gain traction.
On the morning of Nov. 13 (local time), BYD held a high-performance vehicle demonstration event for Korean reporters, showcasing its top-tier premium brand Yangwang’s electric supercar U9 — including its “dance” mode — as well as the luxury SUV U8, which was driven over sand dunes and water-covered terrain. (Yonhap)
Tesla fell to third place with sales of 1.31 million units, down 7.7 percent. Declines in Model 3 and Model Y sales weighed heavily on performance, with sales dropping 20.5 percent in Europe, 8.4 percent in China and 8.4 percent in North America. The latter decline followed the early expiration of consumer tax credits at the end of September, leading to a 50 percent month-to-month plunge in October sales.
Hyundai Motor Group ranked eighth globally, posting a 15.1 percent rise to roughly 529,000 units. Its Ioniq 5 and Kia EV3 led growth in the fully electric segment, while new small and strategic models — including the Casper/Inster EV, EV5 and Creta Electric — were met with strong early demand. In North America, Hyundai delivered 148,000 EVs, trailing only Tesla and GM despite a 13 percent annual decline.
China continued to dominate regional sales, accounting for 63.7 percent of global EV registrations with 10.9 million units, a 24.2 percent increase. Even amid a slowdown in domestic demand, low- to mid-priced models and the electrification of commercial fleets helped sustain growth.
Europe recorded the fastest expansion among major markets, up 32.9 percent to 3.36 million units and a 19.6 percent global share. North America grew 4.7 percent to 1.55 million units but saw its market share fall and its October sales collapse after tax incentives expired. EV sales in Asia outside China jumped 56 percent to 973,000 units.
SNE Research said global EV growth remains robust but increasingly uneven, shaped by diverging policies and shifting subsidy regimes. China’s evolving approach — balancing domestic supply with export expansion — is expected to influence global pricing, supply-chain restructuring and future trade norms.
Kevin Lee (kevinlee@koreabizwire.com)
