# Global BEV sales rose 5% year over year in the quarter, according to Counterpoint Research.

*robotics · news · 2026-05-29 · Benzinga*

## Key points

- Tesla regained global BEV leadership with a 6% sales increase, despite a U.S. sales decline.
- BYD's BEV sales dropped 25% year over year, with domestic market weakness driving the decline.
- Over one-third of BYD's first-quarter BEV sales came from international markets, indicating overseas growth.
- Global BEV share of passenger vehicle sales held steady at 14% year over year, showing no market expansion.
- China accounted for 45% of global BEV sales, despite a 15% domestic decline in BEV demand.

Global BEV Market Growth Remains Modest Global BEV sales rose 5% year over year in the quarter, according to Counterpoint Research. BEVs accounted for about two-thirds of all electric vehicle sales globally and represented 14% of total passenger vehicle sales, unchanged from a year earlier. Tesla Reclaims Global Leadership Tesla’s sales increased 6% year over year despite a 2% decline in the U.S. market, where analysts cited softer consumer demand following the expiration of federal EV tax credits. Counterpoint analysts said Tesla continues to face mounting competition from Chinese manufacturers, particularly in the lower-priced EV segment. However, the company’s investments in software, autonomous driving technology, and manufacturing efficiency continue to provide competitive advantages. BYD Faces Domestic Market Pressure BYD, which led the global market for much of 2025, saw first-quarter BEV sales fall 25% year over year, reducing its market share to 11% from 15% in the prior quarter. Analysts attributed the decline largely to weakness in China’s domestic market, where BEV sales dropped 15% amid fading consumer demand, the expiration of incentives, and changes to vehicle trade-in subsidy programs. Despite the slowdown at home, Counterpoint noted that BYD continued to gain traction overseas, particularly in Europe, Southeast Asia, and Latin America. More than one-third of the company’s BEV sales came from international markets during the quarter. Geely Holds Ground in Competitive EV Market Although its BEV sales declined 4% year over year, analysts said strong demand for its Galaxy and Zeekr brands helped the automaker maintain its position in China’s highly competitive EV market. China Leads Global EV Demand China remained the world’s largest BEV market, accounting for 45% of global sales during the quarter, followed by Europe and the United States. At the model level, the Tesla Model Y, Tesla Model 3, and Geely’s Galaxy Xingyuan were among the world’s best-selling electric vehicles. Industry Outlook Turns More Competitive Counterpoint analysts said the global EV market is entering a more challenging phase as government incentives diminish and automakers compete more aggressively on pricing, product offerings, and technology differentiation. TSLA Price Action: Tesla shares were down 0.49% at $440.03 during premarket trading on Friday, according to Benzinga Pro data. Image via Shutterstock

**Companies:** Tesla, BYD, Geely
**Countries:** China, United States, Europe

[Read the full story on Benzinga](https://www.benzinga.com/analyst-stock-ratings/analyst-color/26/05/52865320/tesla-reclaims-no-1-position-in-global-battery-ev-race)

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