BEV and PHV Trends of Chinese Manufacturers

BYD surpasses Tesla to become world's top seller of BEVs

2025/06/02

Summary
Sales trends by BEV model
Sales trends by PHV model
BYD enters the Japanese PHV and mini BEV markets

Summary

　Global sales of BEVs (including range extender EVs) were dominated by Tesla until 2023, but BYD rapidly expanded its sales volume, putting it in competition with Tesla. By quarter, BYD has exceeded Tesla's sales volume since Q4 2024 and has been the top BEV seller for two consecutive quarters through the most recent quarter, Q1 2025 (Figure 1).

　On the other hand, in terms of PHV sales volume, BYD has continued to lead the way since Q4 2021 (Figure 2).

Figure 1: BEV global sales volume by OEM (Quarterly)

(Source: Compiled from MarkLines Sales data by models)

Figure 2: PHV global sales volume by OEM (Quarterly)

(Source: Compiled from MarkLines Sales data by models)

　Major Chinese OEMs are strengthening their product lineup of small BEVs, introducing PHVs for midsize vehicles and above, and advancing sales strategies to differentiate themselves from Tesla's midsize BEV models.

　This report examines sales trends for BEVs and PHVs based on MarkLines' sales volume data by model for 62 countries around the world (representing approximately 95% of global sales).

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BEV and PHV Trends of Chinese Manufacturers

BYD surpasses Tesla to become world's top seller of BEVs

2025/06/02

Summary

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