Global Passenger Electric Vehicle Market Share, Q2 2021 – Q3 2022

Published date: December 16, 2022

This page depicts our quarterly data for global electric vehicle sales market share from Q2 2021 to Q3 2022.

Global Electric Vehicle Market Share Q3 2022

Brands Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022
BYD Auto 7% 11% 12% 14% 16% 20%
Tesla 15% 15% 14% 16% 12% 13%
Wuling 7% 6% 5% 6% 5% 5%
Volkswagen 7% 6% 5% 4% 4% 4%
GAC Motor 2% 2% 2% 2% 3% 3%
Others 62% 59% 62% 59% 60% 55%

Source: Global Electric Vehicle Model Sales Tracker: Q1 2018 – Q3 2022

DOWNLOAD:

(Use the buttons below to download the complete chart)
    

Global electric vehicle market highlights:

  • Global passenger electric vehicle* (EV) sales grew 71% YoY in Q3 2022
  • Three of the top five best-selling EV brands are from China, where they predominantly operate
  • EV global market share is consolidating, with the top five brands approaching 50% market share
  • Domestic growth is propelling BYD’s EV global market share to 20%
  • Tesla market share is falling on the back of higher, affordable segment shipment growth globally
  • Global electric vehicle market share constituted over 15% of the world’s passenger vehicle sales in Q3 2022

Top Electric Vehicle Brands highlights:

BYD Auto remained the global market leader, shipping more than 537,000 EV units, an increase of 197% YoY. Its top three models – BYD Song, BYD Qin and BYD Han – contributed to over 56% of the company’s sales during the quarter. BYD’s overseas operations have been picking up fast; it sold almost 17,000 EV units across various regions including Europe, Latin America, Southeast Asia, Middle East and Africa, and Oceania in Q3 2022.

Tesla’s global sales grew 43% YoY in Q3 2022 to over 343,000 units. The company saw increased demand for its vehicles in Europe this quarter. The smoothing production ramp in its Berlin factory helped deliver a record number of Model Ys in Germany this quarter. However, deliveries fell short of expectations due to logistics bottlenecks.

Wuling grew by 31% YoY to hold the third rank in the global EV market. The brand’s Hongguang Mini EV model has remained the undisputed market leader since its release in the second half of 2020. Mini-electric car sales in China are high as they cost less, are eligible for subsidies and serve the purpose.

Volkswagen’s EV sales increased by 28% YoY to recover from their Q2 dip. The ID.4, ID.3 and ID.6 series had the top-selling Volkswagen models during the quarter. The company showed impressive results in China with its EV sales growing 79% YoY and 35% QoQ. Although the brand’s sales in Europe and the US recovered sequentially, neither region registered YoY growth.

GAC Motor emerged as the fifth top-selling brand, overtaking BMW and Mercedes-Benz. During Q3 2022, GAC sold more than 85,000 units to record a YoY growth of 145%. GAC spearheaded its Aion series, with the Aion Y as the top-selling model. The company operates only in China.

For a more detailed electric vehicle model sales tracker, click below:

Note: Numbers based on passenger vehicles only.  For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.

Related Posts