When it comes to electrified vehicles , China leads uncontested as the top global sales champion. Due to numerous factors, Motorists in the sizable country of Asia are rapidly purchasing brand-new electric and plug-in hybrid cars at an impressive rate. This point is highlighted by the sales figures from March. Here’s what transpired in China last month.
March Sales Reach 1 Million Mark
As per a report from CnEVPost.com In March, the sales of what are known as new energy vehicles (NEVs)—vehicles primarily driven by power sources other than fossil fuels—rose after the nation’s sluggish period around the Chinese New Year holiday. NEV is mostly associated with plug-in hybrids and electric cars. , although hydrogen fuel cell variants are also part of the lineup.
Approximately 1 million New Energy Vehicles (NEVs) were sold by automakers in March, with wholesale shipments reaching around 1.14 million units. This indicates a significant 37% rise from February. Moreover, NEV wholesale shipments for the initial three months of 2025 are projected to be about 2.86 million units, marking an impressive 43% growth over the equivalent timeframe in the previous year.
To break it down, BYD reported wholesale deliveries totaling 371,419 vehicles last month, firmly establishing itself as the leading brand—by quite a margin, you could say, even translating the homespun American expression into something relatable for our Chinese audience. In contrast, Geely sold 119,696 units in March, followed by Tesla with 78,828 vehicles, and SAIC-GM-Wuling with 74,108 cars. Meanwhile, Chery managed to sell 56,450 vehicles through its wholesale channels.
Smaller brands also performed impressively. Last month, Nio sold over 15,000 vehicles, marking a year-over-year growth of roughly 27%. Similarly, Li Auto saw its deliveries soar by approximately 27% from March 2024 levels to reach 36,674 units. Meanwhile, Xpeng shifted more than 33,000 vehicles, representing an astounding 268% rise when contrasted with the previous year's figures for the same period.
China Leads Worldwide Electric Vehicle Sales
China is a major player in worldwide electric vehicle sales, as evidenced by the numbers from March’s NEV statistics. However, the impact of these deliveries might become even more substantial after 2024 concludes.
Based on data from the analytics company Rho Motion In 2024, approximately 17.1 million electric vehicles were sold globally, marking a 25% rise from the previous year. Out of this total, about 11 million were delivered to drivers in China. Indeed, the number is 11 million. million , which accounts for approximately 64 percent of worldwide EV sales. This achievement becomes even more remarkable considering it marks a 40 percent growth from 2023 figures.
Last year, electric vehicle deliveries in Europe reached a total of 3 million units, surprisingly marking a 3 percent decrease. In contrast, sales of electric vehicles amounted to approximately 1.8 million in the U.S. and Canada in 2024. Globally, excluding these regions, about 1.3 million EVs were purchased throughout the previous year.
In providing additional insight into the 2024 sales numbers, Charles Lester, who manages data at Rho Motion, stated in a press statement, "It’s evident that both incentives and regulations from governments are having an effect. The nine percent increase seen in North America is largely due to consumer subsidies, whereas in the UK, the Zero Emission Vehicle (ZEV) mandate has strongly encouraged automakers to promote their lower-emission vehicles." However, he also noted some challenges: "On another front," Lester added, "the elimination of subsidies in Germany significantly disrupted the entire European market. Should this occur in the U.S., similar consequences could follow."
It should be intriguing to observe where electric vehicle sales stand in 2025, both within China and worldwide. Will US tariffs along with overall economic instability hinder their progress, or will consumers embrace them as a greener option instead? In roughly nine months, we'll get our answer.