The global EV market continued its rapid expansion in the first quarter of 2025, especially in the global BEV market, which saw a 40% year-on-year increase in sales.

Among all players, Chinese automakers stood out—particularly BYD and Geely, which are steadily reshaping the global competitive landscape. This article dives into the latest data from Counterpoint Research to examine key market shifts and emerging trends.

Global BEV Market Share: Clear Top Three

• BYD EV sales 2025 remained the top seller for the second consecutive quarter, with a Q1 market share of 15%. Although it dipped slightly from Q4 2024, it still outpaced Tesla and stayed number one.
• Tesla saw its market share drop to 12%, continuing a downward trend.
• Geely experienced a strong surge, climbing from 9% to 11% in just one quarter, establishing itself as a serious contender.

Notably, Counterpoint’s Bayesian model predicts that BYD could reach a global market share of 15.7% by the end of 2025, which would surpass Tesla’s forecast of 15.3% for the first time.

China Continues to Dominate

China remains the world’s leading market for electric vehicles:

• China’s BEV sales account for 55 per cent of total global BEV sales.
• Followed by the United States and the United Kingdom.

Chinese EV brands are not only leading domestically, but also internationally, especially in Europe, Latin America and Southeast Asia.

Best selling EV 2025

BYD: 39% YoY Sales Growth

• Bestsellers: Seagull, Yuan UP, and Song
• Over 200,000 vehicles exported, with one-third heading to Europe
• Strong performance in Europe, especially after entering the Russian market

Tesla: 13% YoY Decline

• Flagship models: Model Y and Model 3
• Despite Model Y being the best-selling BEV globally, overall performance has weakened

Geely: 105% YoY sales growth and rapid market penetration in various countries.

• Galaxy and Geometry sub-brands contribute 60% of total BEV sales
• Popular Models: Star Wish (Geometry Xingyuan), Panda Mini, and Geely E5
• Three models account for nearly two-thirds of Geely’s BEV sales

EV market trends 2025

• BYD is poised to expand its lead and potentially become the world’s top BEV seller for the full year
• Tesla is grappling with slowing growth and production constraints
• Geely is emerging as a global EV powerhouse with remarkable growth momentum
• “Others” still account for over 60% of the market, reflecting the fierce competition from smaller brands and startups

Conclusion

Q1 2025 data confirms that the global EV market is shifting from a US-China duopoly to a China-centric competitive structure.

With BYD’s export strategy and Geely’s rapid rise, the future of the BEV market will be determined not only by brand competition, but also by innovations in the supply chain, battery technology and smart ecosystems.

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