A surprisingly small group of electric cars dominated the global market last year. Despite hundreds of battery-electric models being on sale, just five accounted for roughly 20% of global EV sales.
Tesla held the top two spots, but one of the biggest surprises was that three ultra-affordable Chinese models joined it at the top of the list.
International Energy Agency data, reported by InsideEVs, show the Model Y captured almost 8% of worldwide BEV sales last year, while the Model 3 followed at about 3.6%.
The next three best-selling EVs were all Chinese models — Geely Geome Xingyuan, Wuling HongGuang Mini, and BYD Seagull — at 3.5%, 3.1%, and 3.0%, respectively. Together, that quintet accounted for about a fifth of EV sales globally.
Shoppers had no shortage of options. Of roughly 2,500 car models sold worldwide last year, about 630 were fully electric. Even so, buyers gravitated toward a small number of familiar or low-cost choices.
Price appears to be a major factor. While the cheapest Tesla Model Y starts much higher, the Geely, Wuling, and BYD entries were all priced below $10,000 in China, helping them gain traction.
Tesla remains dominant, but low-cost EVs are also capturing substantial market share, especially across developing economies and fast-growing regions such as Southeast Asia.
Lower sticker prices can put EV ownership within reach for more households. Once drivers make the switch, they can also save money over time through lower fuel costs and reduced routine maintenance, since EVs do not need oil changes and generally have fewer moving parts than gas-powered cars.
Around 30% of plug-in vehicles sold in China start under $20,000. In the United States, the share of EVs with a base price below $40,000 is about 20%, and the vehicles sold in the U.S. are mostly larger models or SUVs.
The global EV race is increasingly being shaped by affordability, not just premium features or brand recognition.
TCD Picks » Quince Spotlight
💡These best-sellers from Quince deliver affordable, sustainable luxury for all
Automakers are continuing to flood the market with new electric choices. The number of plug-in models sold globally rose from 440 in 2020 to 980 in 2025, with another 150 expected this year, InsideEVs noted.
By 2029, the IEA projects about 1,250 plug-in models on sale, nearing the anticipated total for combustion and hybrid vehicles.
That growing competition could mean better prices, more body styles, and more options to fit different budgets.
EV owners already save big by dodging expensive prices at the gas pump, but did you know that charging at home can boost those savings even further?
If you're curious about how much installing an at-home charger can save you, connect with the experts at Qmerit. Its free tools can help you get instant installation estimates for Level 2 chargers.
If you want to cut charging costs even further, consider installing solar panels. Powering your EV with low- or no-cost solar energy can save you significantly more than relying on public charging stations or electricity from the grid.
To connect with vetted solar installers and save up to $10,000 on purchases, check out EnergySage's free solar resources.
Get TCD's free newsletters for easy tips, smart advice, and a chance to earn $5,000 toward home upgrades. To see more stories like this one, change your Google preferences here.
Cool Picks
