China's BYD tops electric vehicle sales, Hyundai drops slightly to 7th place - South Korea

According to South Korean research firm SNE Research, the number of electric vehicles (EVs) registered worldwide in 2024 will be approximately 17.63 million, up approximately 26.1% from the previous year.
China's BYD took the top spot with sales of 4.137 million units, up 43.4%. Sales of its flagship models in the Chinese market were strong, as were sales of other models.
In the market, the company is also increasing its share through sales of the Att 3 and 4 sports utility vehicles (SUVs).
In second place was Tesla of the United States, down 1.1% to 1.783 million units. In third place was China's Geely Automobile Group (
Geely recorded a 59.8% increase to 1.386 million units. Hyundai Motor Group sold about 550,000 units, a 1.8% decrease. Its flagship SUVs, the Ioniq 5 and the E
Sales of the EV6 and Niro were sluggish, but sales of the SUVs EV3 and EV9 were expanding. By market, sales in Europe fell 1.0%, but hybrid vehicles increased 1.2%.
Hybrid electric vehicles (HEVs) increased by 22.1%. China also holds a firm first place, accounting for 59.5% of the global EV market.
Policy changes in Europe and the US are expected to slow EV demand through 2025. SNE
The research predicts that new growth is expected from 2026 onwards due to the expansion of battery mass production and new car releases.