Global NEV sales rise 31% in Q3 2025 — TrendForce expects 25% annual growth

Market research firm TrendForce reports 5.39 million new electric vehicles (NEVs) were registered globally in the third quarter of 2025, a growth of 31% year-over-year. Battery electric vehicles (BEVs) saw particularly strong growth with 3.71 million units (+48%). Plug-in hybrids (PHEVs) reached 1.67 million units, representing an annual growth of 4%. Analysts forecast full-year 2025 NEV sales of 20.43 million units—an increase of approximately 25% compared to 2024. For 2026, 22.8 million units are expected (+12%). Leading brands in the third quarter included BYD, followed by Tesla, which saw a quarterly growth of 29% compared to the previous quarter. In contrast, European manufacturers such as BMW and Mercedes recorded declines in BEV sales compared to the previous quarter. TrendForce points to the continuing momentum of global electrification but warns of risks from expiring subsidy programs—particularly in the USA—and increased competition in key markets