16 December 2024
Led by the BYD Song, global sales of plug-in hybrids (PHEVs) continued to soar in November. But were battery-electric vehicles (BEVs) able to keep up the pace? Autovista24 editor Tom Geggus explores the latest model trends.
After recording exceptional growth in September, the global PHEV market climbed once again in October. Deliveries soared by 66.8% year on year, reaching 686,048 deliveries, according to the latest data from EV Volumes. This was largely thanks to the Chinese market, where 535,957 new PHEVs hit the roads.
The monthly performance bolstered growth across the year, with over five million PHEVs registered globally between January and October. The market grew by 53.5% compared to the same 10-month period in 2023.
Meanwhile, the worldwide BEV market increased by 22.8% in October. While unable to match the growth of PHEV registrations, all-electric cars recorded greater volume. More than one million all-electric models were delivered in the month. Nearly 8.5 million new BEVs took to the road in the first 10 months of 2024. This equated to a year-on-year increase of 13.2%.
BYD Song powers global PHEV market
BYD claimed seven spots in October’s top 10 best-selling PHEV model list. Leading the way was the BYD Song, which took first place with a PHEV market share of 10.8% and 74,353 deliveries. This was up 37.3% on the results recorded in October 2023.
Then came the BYD Qin L with 39,316 registrations and a market share of 5.7%. It was followed closely by its sibling the BYD Seal 06, which recorded 39,133 deliveries also making up 5.7% of PHEV registrations in the month.
The BYD Qin Plus DM-i took fourth place with a market share of 4.1%, down from 7% a year earlier. Its volume of 28,055 units also fell by 2.9% year on year as it faced fierce internal competition.
The first non-BYD model to appear in October’s PHEV top 10 was the Li Auto L6 in fifth. In total, 25,814 units were delivered to customers, with the model making up 3.8% of the market. BYD returned in sixth with the Song L, claiming 3.7% of the market with 25,344 units registered.
The BYD Destroyer 05 saw 23,196 deliveries, taking 3.4% of the market and seventh place. The BYD Han followed close behind with 21,938 units and a 3.2% share of total registrations. The Aito M7 came ninth with 15,132 deliveries, up 30.5% year on year. This meant a market share of 2.2%. The Aito M9 took nearly the same share, with 14,826 registrations.
BYD’s global PHEV domination
Between January and October, BYD’s domination was confirmed in the PHEV top 10. The Song stood uncontested in first with 511,151 deliveries, making up 10.2% of the market. The came the BYD Qin Plus DM-i in second with 278,739 with 5.6%.
Third went to the BYD Destroyer 05, recording 195,762 registrations and a market share of 3.9%. The Aito M7 took fourth place with 3.3% and a volume of 166,510 units. In fifth, the BYD Qin L managed 165,581 deliveries, making up 3.3% of the global PHEV market.
The BYD model now sits 929 units behind the M7. Deliveries of the Qin L exceeded the M7 by 24,184 units in October. Therefore, the BYD model will likely overtake its Aito competitor by the end of 2024.
The BYD Seal 06 registered 141,742 units, making up 2.8% of global PHEV deliveries. The Li Auto L6, moved 140,170 units between January and October to take seventh. The Li Auto L7 claimed eighth with 2.4% of the market and 118,010 registrations.
The BYD Han came ninth, reaching 114,219 deliveries, taking 2.3% of the global PHEV market. It overtook the Aito M9, which rounded out the top 10 with a 2.2% market share and 110,948 registrations.
Global powertrain trend reflected
The trend of PHEV growth versus all-electric volume was reflected in its market leaders. As the best-selling BEV in October, the Tesla Model Y recorded 85,494 registrations. This was ahead of the total deliveries achieved by the PHEV leader, the BYD Song. However, the Model Y’s growth reached just 9.3% year on year.
A smaller and more affordable version of the Model Y could hit the US next year, Forbes recently reported. Should this come to pass, Tesla’s best-selling model may find its sales figures cannibalised. However, there will also be plenty of external competition.
The BYD Seagull, also known in some export markets as the Dolphin Mini, came second. Its deliveries grew by 44.6% to 54,722 units as it claimed 5.1% of the market. Third went to the Wuling Mini, which represented 3.2% of global BEV registrations. The 34,191 deliveries were up by 68.1% year on year.
The next generation of the Wuling HongGuang Mini has undergone a growth spurt, according to Carscoops. The angles have smoothed out, with the BEV now offering smoother curves as well as a five-door version.
Fourth went to the BYD Yuan Plus, also known in some markets as the Atto 3. Its 33,858-unit total was down by 28.3% year on year, which meant its market share hit 3.2%. This was a drop from 5.4% at the same point last year. The Tesla Model 3 finished October in fifth, securing 2.6% of the market, down from 3.7% 12 months ago. Its registrations shrank by 11.4% year on year, to 28,355 units.
Global offering of Xiaomi SU7?
In sixth, the Wuling Bingo captured 2.3% of the market, down from 2.7% in October 2023. However, the model did record registration growth, up 2.6% to 24,353 units. The BYD Dolphin finished the month in seventh, with 22,661 deliveries, down 31.1% year on year. This meant a smaller market share of 2.1%, from the 3.8% seen in October 2023.
The Xiaomi SU7 came eighth with 20,726 deliveries, representing 1.9% of the global BEV market. This result was achieved purely in the Chinese market. However, reports are swirling of the car being made available internationally. This could see the successful model catapulted up the global best-sellers chart.
In ninth, the BYD Yuan Up was not far behind, with 20,232 new units taking to roads across the world. This meant a market share of 1.9%. Finally, the Changan Lumin finished in 10th, claiming 1.6% of the market. Its volume of 17,064 units was up 9.8% year on year.
Tesla on top
Between January and October, the best-selling BEV globally was the Tesla Model Y. With a market share of 11% and 929,618 deliveries, it more than doubled the Telsa Model 3’s performance in second. The sedan represented 4.9% of deliveries with a volume of 414,407 units.
BYD took third and fourth in the current 2024 BEV table. The BYD Seagull posted 377,705 deliveries and a share of 4.5%. Meanwhile, the BYD Yuan Plus held 4.5% of the market with 296,395 registrations. Selling 188,642 units, the Wuling Mini came fifth, making up 2.2% of the market.
The BYD Dolphin held a 2.1% share with 180,559 deliveries. The Wuling Bingo came next, holding 1.9% of the market with 157,171 registrations. The Aion Y ended the 10-month period in eighth with 137,982 deliveries, making up 1.6% of the global BEV sales.
The BYD Qin Plus took ninth with 1.5% of the market and 125,788 registrations. Hitting 121,188 sales, the Volkswagen ID.3 took 1.4% of the market.
