Global monthly sales of passenger EVs (BEVs and PHEVs) surpassed the million-unit milestone for the first time in September, reaching 1.04 million units and a market share of 17% for the month, while the annual sales volume is expected to hit the 10 million unit mark. It is practically the first defining moment in the EV history, but I believe there are many more surprises in store. In addition, BYD will be the No. 1 EV brand this year and leave its competitors far behind with an impressive annual sales volume of about 1.8 million units, whereas Tesla will rank second, whose annual sales volume is expected to reach 1.2 million units, a figure that is considerably short of the goal of 1.5 million units set by Elon Musk earlier this year. The Volkswagen Group, third place, and the following automakers are quite far from the top two.
From the aforementioned figures, we know that traditional automakers have not manifested R&D results of EV products. It is when the automakers and dealers with copious marketing and sales experiences as well as complete physical distribution channels launch their EVs on new platforms that the growth of EVs will really soar, and the current technological progress of the automakers indicates 2025 or so. In the next three years, however, China's own EV brands will take advantage of the propitious time and rise to the top for sure, so the major automakers will see their market share decline year by year. The competitive ecology in the auto realm we see today will have changed a lot by 2025. What's more, some of the traditional automakers will phase out or be consolidated between 2026 and 2030 because of the inability to keep up with some EV startups and Chinese brands in the overall technology readiness levels. I'm not being some "alarmist" here. Imagine EVs claim a market share of over 30% after 2025, and possibly 50% by 2030. That's automatically at least two years ahead of the prediction many international research institutes and automakers made two years ago. I'm sure many traditional automakers have been caught off guard by the new picture. Toyota, the Volkswagen Group, GM, Ford, Stellantis, BMW, and Mercedes-Benz are already under pressure from the EV frenzy in China, the largest and most competitive auto market today. From January to October this year, the passenger car market in China reported a total sales volume of 16.7 million units, representing a slight year-over-year increase of 3%. On the other hand, 4.43 million EVs were sold, representing a drastic year-over-year increase of 107%. EVs accounted for 26.5% of the total auto market in China during the first ten months of this year, and the market share has exceeded 30% for the past few successive months. Many international joint ventures that have not yet launched competitive EVs will lose 30-40% of their sales in China this year and over the next two years. Tesla, for example, has attributed more than half of its global sales so far this year to the China market. And in the coming year, Tesla's newly expanded German plant will begin to challenge VW for EV supremacy in Europe.
I think starting next year, global EV sales will not only exceed one million units every month but also account for over 20% of the market for the year, i.e., one in five new cars will be electric. As for the Taiwan market, EVs will account for less than 3% of sales this year, and the likelihood of reaching 5% next year depends on the stability of the supply of vehicles from various brands and the progress in building public charging facilities islandwide.