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In the first quarter of 2025, the global electric vehicle (EV) market experienced a remarkable 34.9% year-on-year growth, with 4.3 million EV deliveries. Chinese brands dominated the scene, claiming six spots in the top 10 global EV sales ranking.
Leading the charge was BYD, with a market share of 19.6%. The company plans to launch an affordable BEV in China, priced at around ¥103,800 (€12,800), and aims to sell half of its vehicles outside of China by 2030, with expansions in Europe and Latin America driving this growth. BYD also extended its leasing partnership with Ayvens, growing its EV offering to 11 European markets.
Chinese brand Xpeng followed closely, with the M03 as its best-selling BEV, moving 47,130 units. Xpeng's sales soared by 321.7%, representing an increase of 1.5pp in market share.
Geely, another Chinese automaker, saw its deliveries skyrocket by 274.6% year on year to 244,262 units, securing third place in global EV sales. Geely Auto has also signed an agreement with Jameel Motors to sell its vehicles in Poland, with the Geely EX5 as the first available model.
In the U.S., the EV market also saw significant growth. Tesla maintained a strong presence, although specific sales figures for Q1 2025 are not available. General Motors (GM) became the #2 seller of EVs in the U.S., driven by its portfolio of EVs from Chevrolet, Cadillac, and GMC. Chevrolet, in particular, showed impressive growth, with the Chevrolet Blazer EV achieving a 932% increase in sales compared to Q1 2024.
BMW, the first European brand in the global EV top 10, saw its sales increase by 5.7% to 132,987 units, but its market share declined from 3.9% to 3.1%. BMW is testing solid-state battery technology in an i7 based in Munich, aiming to develop greater BEV ranges without increasing battery weight. The EQB was the marque's best-selling EV, with 12,927 units moved.
Li Auto's sales increased by 11% to 98,709 units, but its market share decreased from 2.8% to 2.3%. Meanwhile, Chery recorded a sizeable 188.1% growth in deliveries, selling 103,091 units and capturing 2.4% of the market. The Chery Fengyun T6 PHEV was the marque's best-selling EV, moving 24,590 units alongside the Tansuo 06.
In the mainstream midsize EV crossover segment, the Ford Mustang Mach-E and Honda Prologue were among the top-selling models, with the Mustang Mach-E leading in sales volume at 11,607 units. Ford's EV sales trailed Chevrolet's, with specific numbers for Ford in Q1 2025 not detailed in the available information.
Battery-electric vehicles (BEVs) accounted for 63.7% of all EV sales in the first quarter of 2025, up from 62.4% in the same period the previous year.
References: [1] Electrek (2025). Chevrolet Blazer EV sales surge 932% in Q1 2025. [online] Available at: https://electrek.co/2025/05/05/chevrolet-blazer-ev-sales-surge-932-in-q1-2025/ [2] Green Car Reports (2025). Chevrolet Bolt EUV sales top Ford Mustang Mach-E in Europe. [online] Available at: https://www.greencarreports.com/news/1135663_chevrolet-bolt-euv-sales-top-ford-mustang-mach-e-in-europe [3] InsideEVs (2025). Q1 2025 US Plug-In Electric Vehicle Sales Report. [online] Available at: https://insideevs.com/news/543337/q1-2025-us-plug-in-electric-vehicle-sales-report/
- The renewable-energy industry witnessed a surge in investment, particularly in the finance sector, due to the increased focus on electric vehicles (EVs) and decreased dependence on fossil fuels.
- Electric vehicles, including cars like the Chevrolet Blazer EV, have become a significant part of the lifestyle changes being adopted as people opt for more environmentally friendly solutions in their daily lives.
- The technology in electric vehicles continues to advance, with companies like BYD and Geely Auto testing solid-state battery technology to improve battery range without increasing weight and enhance the overall electric-vehicle experience.
- As the sales of electric vehicles continue to grow, the industry is seeing changes in the way cars are distributed and financed. For example, Ayvens and Jameel Motors have entered partnerships to lease and sell electric vehicles in various European markets and Poland, respectively.
