Counterpoint Research has released quarterly data on the market share of global electric vehicle sales from the first quarter of 2021 to the fourth quarter of 2022.
BYD
BYD’s sales of electric vehicles in 2022 will exceed 1.8 million units, a year-on-year increase of nearly 153% in the fourth quarter of 2022 and the fourth quarter of 2022. Additionally, the company sells more PHEVs than BEVs. Exports in 2022 will exceed 33,000 units. In 2023, BYD is expected to debut in several European countries.
Tesla
Ranked No. 2 in terms of global electric vehicle sales share, Tesla will deliver more than 1.3 million vehicles in 2022. Its sales will grow by more than 31% year-over-year in the fourth quarter of 2022. Tesla’s Model Y was the best-selling vehicle in Europe in November and December.
Volkswagen
Volkswagen surpassed Wuling to become the third best-selling passenger car brand in the fourth quarter of 2022. Sales in the fourth quarter increased by 23% year-on-year, and Volkswagen ID.4, Volkswagen ID.3 and Volkswagen ID.5 became Volkswagen’s best-selling models.
Wuling
With Hongguang Mini EV, Wuling continues to rank among the top five passenger car brands in sales. Wuling’s sales are up 27% year-on-year in the fourth quarter of 2022. The company launched the new Mini Air EV in the fourth quarter of 2022. Wuling mainly operates in China and Indonesia.
BMW: BMW’s electric vehicle sales in the fourth quarter of 2022 rose 42% year-on-year, bringing full-year sales to more than 360,000 vehicles. PHEVs accounted for nearly 54 percent of BMW’s electric vehicle sales. In the BEV segment, the BMW i4, BMW iX3 and BMW iX were the best-selling models.
Data summary
- EV sales climbed more than 10.2 million units, with the global EV market set to grow 65% year-on-year in 2022.
- Electric vehicles account for more than 14% of global passenger car sales in 2022, up from 9% in 2021.
- In the fourth quarter of 2022, 7 of the top 10 electric vehicles were from Chinese brands.
- Tesla’s market share is 12% in the fourth quarter of 2022.
- Although Tesla remained the best-selling brand in the battery electric vehicle (BEV) segment, BYD sold more PHEV+BEVs than Tesla, taking the top spot overall.
- Electric vehicle sales are expected to reach nearly 17 million by the end of 2023.
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