Counterpoint: Global NEV sales increased 32% year-on-year in Q3 2025, pure electric vehicles continue to dominate

The Zhitong Finance App learned that Counterpoint Research released quarterly global electric vehicle market share data (Q1 2024 - Q3 2025). Global NEV sales increased 32% year over year in Q3 2025. Pure electric vehicles (BEVs) continue to dominate, accounting for two-thirds of global electric vehicle sales, and their sales volume increased 32% year over year. Plug-in hybrid vehicles (PHEVs) also experienced moderate growth, up 6% year over year. The BEV penetration rate reached a new high in the third quarter, accounting for 18% of global passenger car sales, up from 14% in the same period last year. China remains the core driver of global growth, contributing 60% of global BEV sales, followed by Europe and the US. At the model level, Tesla Modely, Geely Galaxy Star Wish, and Tesla Model 3 became the three best-selling electric vehicles in the world this quarter.

The world's top three BEV car companies:

BYD Auto

The BYD Group continued to rank first in the global market with nearly 600,000 BEVs in Q3 2025, with a year-on-year increase of 33%. The company performed well in overseas markets such as Europe, Southeast Asia and Latin America, exporting more than 150,000 vehicles and contributing 27% to overseas markets. BYD's core strength lies in its diverse product layout for BEVs and PHEVs. In particular, it excels in the compact SUV and sedan markets, and maintains leadership through competitive pricing and scale effects. In the 2025 Q3, BYD Seagull, Dolphin, and Yuan UP are its top three best-selling models.

Geely Holdings

Geely Holding Group ranked third in the world with 10% of the global BEV market share, and Q3BEV sales increased 51% year over year in 2025. The Group's two major brands, Galaxy and Extreme Krypton, have performed well in the Chinese economy and mid-range electric vehicle markets, and continue to drive sales growth. Geely continues to win the favor of consumers in the fiercely competitive Chinese market through a combination strategy of “affordable pricing+advanced software”. Among its brands, Geely Galaxy contributed more than half of the Group's total BEV sales. Galaxy Star Vision, Galaxy E5, and Geometric Panda MiniEV are its best-selling models.

Tesla

Tesla ranked second with a global share of over 13%, and sales increased 7% year-on-year in Q3 2025. The increase in Tesla's sales this year was mainly due to the strong performance of the facelift ModelY and the long-wheelbase version Modely launched in China. Furthermore, Tesla's sales in the US market were boosted as American consumers rushed to buy EVs just before the EV tax credit was lifted in October 2025.