Global EV market shifts as BYD sales decline and Tesla grows

Global electric vehicle (EV) market trends show significant shifts in manufacturer performance and regional demand. According to SNE Research, global BEV and PHEV deliveries reached 11.8 million units from January to July, a 6.3% year-on-year increase. While the market is expanding, growth is uneven; markets outside of China grew by 30.5%, whereas China saw an 8.2% decline.

In terms of global volume, BYD maintained its lead with 1.816 million units despite an 17.9% decrease compared to the previous year. Tesla saw a 12.8% increase, reaching 943,000 units and narrowing the gap with BYD. Hyundai Motor Group also showed strong growth, with deliveries rising 24.2% to 442,000 units.

In the United States, the transition to electric vehicles varies by manufacturer. BMW Group led among major groups in BEV proportion of total U.S. sales at 6% for Q2 2026, up from 5.7% in Q1. General Motors (GM) rose to second place with a 5% BEV share, following a significant increase from 3.6% in Q1. Hyundai Motor Group held third place with a 4.5% share. Meanwhile, North American overall EV demand saw a 22.7% decrease, impacted by the end of certain tax credits and high vehicle prices.