Global PHEV sales in 9 months 2024: BYD strongly dominant
- Out of a global total of 4,291,818 plug-in hybrid vehicles (passenger cars and light utility vehicles) sold in the first 9 months of 2024 (7.5% of the market for all engines combined), BYD remains the leading PHEV carmaker (1,475,196 units in the first 9 months of 2024), which alone represents 34% of global PHEV production. Today, BYD produces more PHEVs (53%) than BEVs (47%). The other carmakers are largely behind.
- Among the top 20 global PHEV carmakers, there are 11 Chinese carmakers, 4 European carmakers (if we consider Stellantis as a European carmaker), 2 American carmakers, 1 Japanese carmaker, 1 Korean carmaker and 1 Indian carmaker. The first 5 places in the Top 20 are occupied by Chinese carmakers: BYD, Geely, Li Auto, Seres and Changan. Initially of European origin, PHEV technology has gradually become a Chinese specialty. It helps green the Chinese car fleet, a wish of the local government, in the same way as BEVs, the volume of PHEVs sold in China now representing nearly three-quarters of the volume of BEVs sold in China.
- A model-by-model analysis shows that BYD places nine of its models in the global PHEV Top 20 over the first 9 months of 2024, of which the Song Plus SUV (called Seal U in Europe) remains the best-selling (284,702 units over the period, representing 7% of the global PHEV market). This model is ahead of the BYD Qin Plus (216,116 units), BYD Chaser 05 (195,828 units) and BYD Song Pro (185,401 units). In total, Chinese models occupy 19 places in the PHEV Top 20. The Volvo XC60 SUV is the only European model in this Top 20 (in 14th place), although it is a model from a brand belonging to a Chinese group (Geely).