Global EV deliveries rise 5.9% in Jan-Aug; Hyundai Motor Group up 20.4%
In short
Global electric-vehicle deliveries, including plug-in hybrids, rose 5.9% year-on-year to 13.725 million units in January-August, according to SNE Research data reported by Yonhap. Hyundai Motor Group's deliveries rose 20.4% to 499,000 units, lifting its share to 3.6% from 3.2%, though it ranked ninth behind China's Leapmotor. China's market fell 7.8% while Europe rose 29.0% and Asia excluding China rose 77.0%.
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Global deliveries of electric vehicles, including plug-in hybrids, rose 5.9% year-on-year to 13.725 million units in January-August, according to data from energy market researcher SNE Research reported by Yonhap. Excluding China, the market grew 28.9% to 6.223 million units. [ 1 ]
Among manufacturer groups, China's BYD held first place with 2.193 million units despite a 16.1% year-on-year decline, with its share falling to 16.0% from 20.2%; its domestic deliveries dropped 33.6% while European and Asian (excluding China) deliveries rose 76.5% and 54.7% respectively. Geely was second with 1.36 million units, up 2.0%, and Tesla third with 1.079 million, up 8.3%. Hyundai Motor Group's deliveries rose 20.4% to 499,000 units, lifting its share to 3.6% from 3.2%, but it ranked ninth, behind Chinese EV startup Leapmotor, whose deliveries jumped 69.3% to 514,000 units and whose share rose to 3.7% from 2.3%. [ 1 ]
Hyundai Motor Group's North American deliveries fell 23.4%, offset by gains of 18.5% in Europe and 75.5% in Asia excluding China, according to the data. Newsis reported that Hyundai Motor Group's global EV sales rose about 20% in the period, saying it continued to grow in Asia and Europe. [ 1 , 2 ]
By region, China, the world's largest EV market, fell 7.8% to 7.502 million units, with its share shrinking to 54.7% from 62.8%. Yonhap reported that Chinese domestic sales have declined since the start of the year after cuts to purchase-tax breaks and amid price competition, while Chinese manufacturers are seeking export growth. Europe rose 29.0% to 3.31 million units, helped by national support measures such as Germany's reintroduction of subsidies for low-income households and the arrival of more affordable models. Asia excluding China grew 77.0% to 1.301 million units, while North America was the weakest major region, falling 24.9% to 954,000 units. [ 1 ]
SNE Research said that through year-end the market's direction would be decided by whether Chinese domestic demand recovers, how long the US policy gap lasts and whether European growth continues. It said that as overseas sales by Chinese automakers grow quickly, competition is shifting to local production capacity, the ability to supply affordable models and responsiveness to regional regulation, and that these factors would determine share changes through the end of the year. [ 1 ]
Why it matters
The figures show Korean automakers gaining share even as the world's largest EV market, China, contracts, with growth shifting to Europe and Asia excluding China. SNE Research said the market's direction through year-end depends on whether Chinese domestic demand recovers, how long the US policy gap lasts and whether European growth continues.
Key facts
- Global EV deliveries including plug-in hybrids rose 5.9% year-on-year to 13.725 million units in January-August, SNE Research data showed. [ 1 ]
- Deliveries excluding China rose 28.9% to 6.223 million units. [ 1 ]
- Hyundai Motor Group's deliveries rose 20.4% to 499,000 units, raising its share to 3.6% from 3.2%, but it ranked ninth. [ 1 ]
- BYD led with 2.193 million units, down 16.1%, and its share fell to 16.0% from 20.2%. [ 1 ]
- Geely was second with 1.36 million units, up 2.0%, and Tesla third with 1.079 million, up 8.3%. [ 1 ]
- Leapmotor's deliveries jumped 69.3% to 514,000 units, with its share rising to 3.7% from 2.3%. [ 1 ]
- China's market fell 7.8% to 7.502 million units, Europe rose 29.0% to 3.31 million and North America fell 24.9% to 954,000. [ 1 ]
Confirmed by several sources
Still unclear
- Whether Newsis reported additional figures or detail beyond its headline. The article text carried by Newsis dealt with an unrelated story, so its EV figures could not be checked against Yonhap's.
- How the market will develop through the rest of the year. SNE Research said the outcome depends on Chinese domestic demand, the duration of the US policy gap and the continuity of European growth, none of which is settled in the documents.