---
title: "Jibang Consulting: Global new energy vehicle sales reached 3.769 million units in the second quarter, a year-on-year increase of 24.2%"
description: "In the second quarter of 2024, global sales of new energy vehicles reached 3.769 million units, a year-on-year increase of 24.2%. Among them, pure electric vehicle sales were 2.328 million units, with"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/212219061.md"
published_at: "2024-08-22T06:11:07.000Z"
---

# Jibang Consulting: Global new energy vehicle sales reached 3.769 million units in the second quarter, a year-on-year increase of 24.2%

> In the second quarter of 2024, global sales of new energy vehicles reached 3.769 million units, a year-on-year increase of 24.2%. Among them, pure electric vehicle sales were 2.328 million units, with Tesla still leading the market but experiencing a 4.7% year-on-year decline in sales. BYD ranked second with a sales growth of about 20%. Plug-in hybrid electric vehicle sales were 1.439 million units, a year-on-year increase of 64.2%, with major brands being Chinese brands and BYD holding a market share of 36.1%

According to TrendForce's latest automotive research, in the second quarter of 2024, global sales of new energy vehicles (including pure electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell vehicles) reached 3.769 million units, an increase of nearly 30% compared to the previous quarter and a 24.2% year-on-year increase. Although Tesla (TSLA.US) still holds the highest market share in pure electric vehicles, its sales have declined compared to last year. BYD has shown steady sales performance in the pure electric vehicle market, with a market share of over 36% in the second quarter for plug-in hybrid electric vehicles.

**Global Rankings and Market Share of Pure Electric Vehicles (BEV) in the Second Quarter of 2024**

TrendForce stated that global sales of pure electric vehicles (BEV) in the second quarter of 2024 reached 2.328 million units, an 8% annual increase. Tesla, the market leader, saw a 4.7% decline in sales compared to the same period last year. To stimulate market demand, Tesla introduced price reductions and promotional interest rates in major markets such as China and the United States. BYD (excluding Tang) ranked second, with BEV sales increasing by approximately 20% compared to the same period last year. In addition, BYD demonstrated strong overseas sales performance, exporting over 100,000 units of new energy vehicles including pure electric vehicles in the second quarter. The third to fifth best-selling brands of pure electric vehicles in the second quarter were Volkswagen, SAIC-GM-Wuling, and BMW, with similar market shares. Nio's sales in this quarter grew by 144% compared to the same period last year, rising to seventh place. Geely Holding Group's ZEEKR brand ranked ninth, with sales mainly coming from the ZEEKR 001 model.

**Global Rankings and Market Share of Plug-in Hybrid Electric Vehicles (PHEV) in the Second Quarter of 2024**

TrendForce's statistics show that global sales of plug-in hybrid electric vehicles (PHEV) in the second quarter of 2024 reached 1.439 million units, a 64.2% annual increase, with the top four sales all being Chinese brands. BYD's market share rose to 36.1%, far surpassing Li Auto in second place, while AITO and Changan ranked third and fourth. Volvo Cars and Mercedes-Benz ranked fifth and sixth, respectively, while BMW's PHEV sales in the second quarter remained the same as last year, ranking eighth. Jeep, in tenth place, saw a decrease in sales and ranking, but remains the best-selling PHEV brand in the United States. Currently, only seven PHEV models in the United States are eligible for federal government subsidies, two of which are produced by Jeep.

TrendForce pointed out that the sales changes of brands in the first half of 2024 reflect the positive impact of subsidy policies on new energy vehicles, and it is expected that newly introduced subsidy measures will help Chinese brands further increase sales and market share

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
