-
- News
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueShowing Some Constraint
A strong design constraint strategy carefully balances a wide range of electrical and manufacturing trade-offs. This month, we explore the key requirements, common challenges, and best practices behind building an effective constraint strategy.
All About That Route
Most designers favor manual routing, but today's interactive autorouters may be changing designers' minds by allowing users more direct control. In this issue, our expert contributors discuss a variety of manual and autorouting strategies.
Creating the Ideal Data Package
Why is it so difficult to create the ideal data package? Many of these simple errors can be alleviated by paying attention to detail—and knowing what issues to look out for. So, this month, our experts weigh in on the best practices for creating the ideal design data package for your design.
- Articles
- Columns
- Links
- Media kit
||| MENU - design007 Magazine
Global NEV Sales Increase 24.2% in Q2; Chinese Subsidies Expected to Boost Market Share for Chinese Brands
August 23, 2024 | TrendForceEstimated reading time: 2 minutes
TrendForce’s latest findings show that global sales of NEVs—including BEVs, PHEVs, and FCVs—reached 3.769 million units in 2Q24. This represents a nearly 30% quarterly growth and a 24.2% YoY increase. While Tesla maintained its position as the leader in BEV market share, its sales declined compared to last year. BYD, in addition to its steady BEV sales, saw its PHEV market share surpass 36% in Q2.
TrendForce reports that global BEV sales reached 2.328 million units in 2Q24, an 8% YoY growth. Tesla, the market leader, saw a 4.7% decline in sales compared to the same period last year. Tesla introduced price cuts and favorable interest rates to help boost demand in key markets such as China and the US. BYD (excluding Denza) ranked second, with BEV sales growing by approximately 20% YoY. Additionally, BYD’s strong performance saw over 100,000 NEVs, including BEVs, shipped overseas in 2Q24.
Volkswagen, SAIC-GM-Wuling, and BMW rounded out the top five BEV sellers in Q2, with minimal differences in market share between them. NIO saw a 144% YoY increase in sales as they took back the 7th spot. Zeekr ranked 9th, with the majority of sales coming from the Zeekr 001, which saw a significant sales boost in Q2 due to a facelift and Chinese policies aimed at promoting NEVs in rural areas.
TrendForce also recorded global PHEV sales of 1.439 million units in 2Q24—a YoY growth of 64.2%—with the top four brands all being Chinese. BYD’s market share rose to 36.1%, widening the gap with the second-ranked Li Auto. AITO and Changan took third and fourth place, respectively. Volvo Cars and Mercedes-Benz ranked fifth and sixth, while BMW’s PHEV sales remained flat year-over-year and landing it at eighth place. Despite a decline in sales and ranking, Jeep remained the best-selling PHEV brand in the US, where only seven PHEV models currently qualify for federal subsidies, two of which are produced by Jeep.
TrendForce notes that brand rankings in the first half of 2024 reflect the impact of China’s NEV replacement subsidies. This recently introduced subsidy program is expected to further boost sales and market share for Chinese brands. According to regulations issued by China’s Ministry of Commerce and other departments, subsidies for scrapping vehicles and purchasing either fuel or NEVs have been doubled, with buyers of NEVs eligible for CNY 20,000. This policy will be in effect until January 10th, 2025.
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
08/01/2025 | Nolan Johnson, I-Connect007We start with the latest report from the Global Electronics Association: North American PCB sales are down 8.6% in June. That might sound grim, but keep reading—there’s more to the story. Bookings are holding steady, and Dr. Shawn DuBravac offers context that paints a more balanced picture. Next, we turn our gaze to India, where mobile phone exports have surged 127-fold over the past decade. That stat alone says volumes about India’s emergence as a force in electronics manufacturing, something we’ll be digging into more deeply in an upcoming SMT007 feature.
Element Solutions Inc Reports Strong Growth in Second Quarter 2025 Financial Results
08/01/2025 | Element Solutions Inc.Element Solutions Inc, a global and diversified specialty chemicals company, today announced its financial results for the three and six months ended June 30, 2025.
Dan’s Sales Guide: Master Your Sales Game in 2025 and Beyond
07/30/2025 | Dan Beaulieu, D.B. Management GroupIndustry veteran Dan Beaulieu has compiled more than 80 of his favorite sales tips and suggestions to help you create your own sales and marketing playbook. “I’ve been in this business for over 40 years, and I’ve seen companies spend hundreds of thousands of dollars on equipment, expand factories, rebrand multiple times, and hire consultants until the parking lot is full,” Dan says. But when it comes to time for companies to invest in something that will actually grow their revenue, Dan has found that their sales and marketing strategies aren’t as strong as they should be. However, there's a solution.
Insulectro Promotes Mitchell Benson to Product Manager for Laminates
07/29/2025 | InsulectroInsulectro, the largest distributor of materials used in the manufacturing of printed circuit boards and printed electronics, announces the promotion of Mitchell Benson to Product Manager for its rigid laminate portfolio.
From Attraction to Action: Where Marketing Ends and Sales Begins
07/29/2025 | Brittany Martin, I-Connect007Before a PO hits the system, marketing has already done a lot of heavy lifting. Without strategic marketing, the PO might never arrive. At I-Connect007, we have been fortunate to help many companies achieve sales success through marketing. The key to success? Understanding how marketing leads to sales.