Global Electric Vehicle Model Sales Tracker: Q1 2018 Q4 2022, AI Voice Assistants to Push Success of Autonomous Driving, Software-defined Vehicle, European EV Market Grew 16% in Q2 2022 led by Mercedes, Global Electric Vehicle Sales Crossed 10 Million in 2022; Q4 Sales up 53% YoY, NXP Reports Record Revenue in 2022, Automotive Shines, Tesla Leads US EV Market, Eclipsing Next 15 Brands Combined, Tesla Reports Record Revenue, Deliveries in Q4 2022, Apple has highest stickiness for smartwatch brand, India Smartphone Market Records Highest Ever Q1 Decline of 19%, 5G Smartphones Contribution at 43%, Global Connected Construction Machine Shipments Grew 6.7% YoY in 2022, China Smartphone Sales Fall 5% YoY in Q1 2023; Apple on Top With Highest Sales Share. Tesla is still dominating the US electric car market, now with a 68% market share. According to Anthony Sassine, CFA, Senior Investment Strategist with KraneShares Funds, it is more difficult to register a traditional internal combustion engine in China than an electric vehicle. Major incumbent carmakers are increasing ambition as well, especially in Europe, and 2022-2023 saw another series of important EV announcements: fully electric fleets, cheaper cars, greater investment, and vertical integration with battery-making and critical minerals. Tesla (TSLA) still dominates US electric car market with 68% market share All rights reserved. That's enough to exceed 2.5% market share in the US/Canada and cross 1.5% market share in Europe and in China. In 2022, the share of electric cars manufactured in China and sold in the European market increased to 16%, up from about 11% in 2021. The EV maker's market share increased 140.7%. However, that is down from 68.2% in 2021 and 79.4% in 2020. Theres no doubt about it. A total of 14% of all new cars sold were electric in 2022, up from around 9% in 2021 and less than 5% in 2020. Our growing team of industry analysts and thought leaders should address all your needs. Electric Vehicle Market Size, Share | Growth Analysis [2021-2030] Tesla's market share results in the first half of 2022 are equally strong. Get interesting investment ideas by Fred Lambert, ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger, Stay up to date with the latest content by, Electric Vehicle Price Guide best prices for dealers in the US, Tesla vehicles accounted for 79% of new electric vehicles registered in the United States, Tesla claims Model Y AWD is most efficient SUV ever, but its not even Teslas most efficient SUV, Weird Alibaba: You can buy your own electric school bus from China, NIO begins deliveries of its flagship coupe SUV set to compete with the Polestar 3, California bans new diesel trucks effective 2036, a world first, Subscribe to Electrek on YouTube for exclusive videos. These companies saw market share growth of 4.8%, 4.2%, 124.1% and 15.1%, respectively. Find your information in our database containing over 20,000 reports, most valuable brands across all industries, BYD sales also overtook Tesla's for the first time, alternative fuel car and light commercial vehicle models, fifth largest company in the S&P 500 Index. Wuling mainly operates in China and Indonesia. The share of lithium-iron-phosphate (LFP) chemistries reached its highest point ever, driven primarily by China: around 95% of the LFP batteries for electric LDVs went into vehicles produced in China. Europe is Chinas largest trade partner for both electric cars and their batteries. KEY MARKET INSIGHTS Listen to Audio Version The global electric vehicle market size was USD 246.70 billion in 2020 and is projected to grow from USD 287.36 billion in 2021 to USD 1,318.22 billion by 2028, growing at a CAGR of 24.3% in the 2021-2028 forecast period. This number would have been more if fresh cases of COVID-19 hadnt surfaced in China. How Will You Trade the Next Stock Market Swoon? The IEAs Global EV Outlook 2023 reports that electric car sales grew, despite a shrinking global car market. Licence: CC BY 4.0; Photo: Tesla. pointing to covid-related and logistical challenges, boost production at its factory in Fremont, California, U.S. China led among the geographies with 28% year-over-year growth in February, while the U.S. and Europe saw 12% and 4.5% declines, Schneider said. In China, where Tesla gets nearly a quarter of its revenue, the company slashed prices in October and again at the start of January. Tesla's share of the US electric-vehicle market is shrinking as rivals gain momentum. The record sales figures, contained within the IEA's Global EV Outlook for 2023, continue a trend of sustained growth for the industry. 3 ways to reduce invisible labor for women at work, 36 ways to build a family-friendly culture. Tesla share of EV market declines; Domestics, Koreans and Europeans Want to learn more about investing? Tesla market share was 12% in Q4 2022 according to our Passenger Electric Vehicle. Tesla became the EV market leader in 2018. As the competition grows in the EV market, Tesla will also have to expand. Teslas shares ended 2022 down 65% for the year. According to the latest data of the California-based vehicle valuation and automotive research company Kelley Blue Book, Tesla has the lions share with 75 percent market share in the electric vehicle market in the first three months of 2022. Tesla Hits Soft Patch: Tesla's global battery EV market share fell notably from 27% in September to 11% in October, reflecting the company's typical progression in a "quarterly wave," Levy said. Based on existing policies, oil demand from road transport is projected to peak around 2025 in the STEPS, with the amount of oil displaced by electric vehicles exceeding 5million barrels per day in 2030. Teslas market share continued to climb in 2020 with the launch of its second medium-priced vehicle, the Model Y; both are popular Tesla models. That includes the Tesla Cybertruck, Tesla Semi, Tesla Roadster and an autonomous robotaxi. The commercial vehicle stock is also seeing increasing electrification. Out of the more than 525,000 EVs registered over the first nine months of 2022 in the US, nearly 340,000 were Tesla vehicles. However, last year electric SUVs resulted in the displacement of over 150000 barrels of oil consumption per day and avoided the associated tailpipe emissions that would have been generated through burning the fuel in combustion engines. Though Tesla remained the top-selling brand in the pure battery EV (BEV) segment. We are happy to help. 2:07 PM ET Or more likely both. Executive summary. Global BEV sales, excluding hybrids and plug-ins, reached 415,688, up 142% year over year, and up 31% vs May's 316,634. Tesla's sales volume translates into a market share of just. The US tax incentives are intended to spur more EV sales and the building of domestic supply chains for EV parts, which could pose trouble for Teslas competitiveness. That's enough to exceed 2.5% market share in the US/Canada and cross 1.5% market share in. Wuling: Riding on its Hongguang Mini EV, Wuling continued to hold a position in the top five best-selling passenger EV brands. Researchers develop bioengineered cornea that can restore sight to the blind and visually impaired. Our current expectation is for electric car sales in China to be more than 30% higher than in 2022 and reach around 8million by the end of 2023, reaching a sales share of over 35% (from 29% in 2022). Tesla leads all others, selling slightly over 936,000 units in 2021. For Thailand, the share of electric cars in total sales came in at slightly over 3% in 2022, while both India and Indonesia averaged around 1.5% last year. Sign up for free today. Tesla Is Losing Market Share to Ford, GM, and Audi - Business Insider But when you had close to 100% of the market, theres only one way to go, and thats down. The former Leaderboard stock's RS Rating is a 77 out of a possible 99. The IEA Global EV Outlook 2023 ist out: the electric cars share of the overall car market has risen from around 4% in 2020, 9% in 2021 to 14% in 2022 and is Quartz found that prices in Hong Kong were slashed as much as 20% on Model Y type. 2 General Motors (GM) has 12% market share with sales reaching 221,486 so far this year. Get more updates on this story and more with The Blueprint, our daily newsletter: Sign up here for free. Light Vehicle Market On Road to Recovery: Global light vehicle sales came in at a seasonally adjusted annual rate (SAAR) of 80 million units in February, flat compared with the year-ago period, analyst Horst Schneider wrote in a note. Published by Statista Research Department , Feb 3, 2023 Key. The company launched its new Mini Air EV in Q4 2022. Global market share of electric cars more than doubled in 2021 as the Analysis of the AR/VR Value Chain in China: Is China at the forefront of the industry? In fact, S&P thinks that Teslas US EV share will drop to below 20% of the overall market by 2025 which means that either Tesla will have to falter or the rest of the industry will have to go all out in the next three years. During 2023, BYD expects to debut in several European countries. Tesla's global market share dropped from 23.3% in 2020 to 20.3% in 2021. Under the IEA Stated Policies Scenario (STEPS), the global outlook for the share of electric car sales based on existing policies and firm objectives has increased to 35% in 2030, up from less than 25% in the previous outlook. Clicking on the following button will update the content below. The EV market in 2022 is a Tesla market, and it will continue to be, so long as its competitors are bound by production capacity. Tesla's share price is 702.33 which is down by 8.79 yet it has captured more than 70% of the market. Tesla market share: Tesla proves dominance in the EV market with a 75 Tesla faces pressure as EV competition heats up, ex-Ford CEO says - CNBC Meanwhile, Ford (F) sold 5,971 units of the Mustang Mach E globally in June. When you look into the luxury EV market (over $50,000), Teslas dominance is even clearer with 85% market share. Among EV manufacturers, Tesla continued as market leader in 2019, with 370,000 units sold globally, for a market share of about 16 percent, up from 12 percent in 2018 (Exhibit 4). The EV supply chain is expanding, but manufacturing remains highly concentrated in certain regions, with China being the main player in battery and EV component trade. For the entire year of 2020, Tesla vehicles accounted for 79% of new electric vehicles registered in the United States. Tesla also arguably has the advantage of scale. Why Tesla's Market Share Is Set To Plunge In 2023 - Forbes Tesla (TSLA) still has a solid lead in the global EV market share, according to a Morgan Stanley report. In recent weeks, Tesla has made deep cuts on the prices of its vehicles globally, signaling weakened demand for a company that rarely discounts and has long boasted not needing to advertise or pay for endorsements. The electric car market is increasingly competitive. Global spending on electric cars exceeded USD425billion in 2022, up 50% relative to 2021. Teslas fourth-quarter EV production and delivery numbers, disclosed on Jan. 3, missed Wall Streets expectations, with the manufacturer pointing to covid-related and logistical challenges. Teslas position is changing as new, more affordable options arrive, offering equal or better technology and production build, the data firm notes. Get access to free IBD eventsonline & in-person! Tesla's Global EV Market Share Fell 21% So Far In 2021 - SeekingAlpha (SecondSide/stock.adobe.com). For a more detailed electric vehicle model sales tracker, click below: Note: Numbers based on passenger vehicles only. Battery manufacturing continues to expand, encouraged by the outlook for EVs. Tesla is still the top-selling electric vehicle brand in the U.S., but its dominance is eroding as more affordable models proliferate. Tesla's goal is to produce up to 1.5 million vehicles . Tesla vehicle production is well established in Mainland China and will commence in Europe in the first half 2022 as it focuses on delivering existing . The strongest motivation for buying an EV is environmental. Global auto sales are recovering from the trough seen in September 2021, and the industry has thrown up some winners and some laggards, according to an analyst at BofA Securities. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. battery charging station for the electric vehicle company Tesla Motors, in the Silicon Valley town of Mountain View, California, August 24, 2016.