Q1 2023 New Energy Vehicle Sales Soar: Tesla’s Market Share Up 28%
NEV
According to news released on May 31, according to TrendForce, the report statistics show that in the first quarter of 2023, the global sales of new energy vehicles (NEV; including pure electric vehicles, plug-in hybrid electric vehicles, and hydrogen fuel cell vehicles) totaled 2.656 million units.
The sales volume of pure electric vehicles (BEV) was 1.942 million units, an annual growth rate of 26%; the sales volume of plug-in hybrid electric vehicles (PHEV) was 711,000 units, an annual growth rate of 34%.
The TrendForce report stated, “In terms of BEVs, Tesla’s price cuts have worked. The sales volume in the first quarter reached a record high of 423,000 units, and the market share also rose to 21.8%. The market share of the two companies is less than 20%.
It can be seen that the price reduction is still the fastest effective in consolidating the market.
BYD and Wuling ranked second and third respectively, but Wuling, which mainly focuses on low-priced mini electric vehicles, sold in the first quarter Less than 80,000 units, no matter compared to the fourth quarter of last year or the same period last year, it has dropped a lot.
One of the reasons is that the competitors of low-priced mini cars are increasing and carve up the market.
Hyundai and Kia are respectively It ranked sixth and ninth, while Hyundai set a new record for single-season sales in the first quarter.
Volkswagen (Volkswagen) ranked fifth, and two major luxury car brands BMW (BMW) and Mercedes-Benz (Mercedes-benz) were also on the list. to speed up the pace of electrification.”
TrendForce said, “In terms of plug-in hybrid electric vehicles, BYD continued to rank first with a market share of 37%, and Denza, an electric vehicle brand jointly owned by BYD and Daimler Group, also jumped to eighth place in the first quarter.
Name. BYD’s multi-brand strategy has taken shape. In addition to Tengshi, the luxury and high-end “Yangwang” brand will join the battle.
Li Auto rose to second place in the first quarter, and its multiple models brought it a quarterly sales of 52,000 units, increasing its market share to 7.3%.
The three major European luxury car brands BMW, Mercedes-Benz, and Volvo still rank high in the PHEV sales rankings, but sales have declined compared to the same period last year. “
TrendForce said, “All countries are moving towards increasing the proportion of zero-carbon emission vehicles, so the sales of new energy vehicles will continue to increase, and the penetration rate of the overall auto market will also continue to rise.
This is an area with business opportunities in the auto industry. However. , the market instability brought about by high inflation and high interest rates cannot be ignored, the impact of consumers’ spending cuts on car sales, and whether small automakers can survive the test of economic headwinds will make the auto market in the second half of this year full of variables.”
Leave A Comment