Access our quarterly data for global electric vehicle sales market share. This data only covers BEVs.
Published Date: Mar 1, 2024
Receive quarterly updates in your email
| Global EV Market Share Q4 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Brands | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 |
| BYD Auto | 10% | 12% | 13% | 15% | 14% | 15% | 17% | 18% |
| Tesla | 21% | 16% | 17% | 17% | 22% | 20% | 17% | 16% |
| Volkswagen Group | 7% | 8% | 7% | 8% | 7% | 7% | 8% | 8% |
| Others | 62% | 64% | 63% | 60% | 57% | 58% | 58% | 58% |
• Global BEV sales grew 25% YoY in Q4 2023.
• China accounted for 61% of the global BEV sales, followed by the US.
• BYD Auto became the best-selling BEV brand in Q4 2023 by surpassing Tesla.
• Tesla’s Model Y, BYD’s Yuan Plus (Atto 3) and Tesla’s Model 3 were the best-selling EV models in Q4 2023.
• Global BEV sales are expected to cross the 45-million-unit mark by 2030, with a CAGR of 25% between 2023 and 2030.
BYD Auto: BEV sales of BYD Auto in Q4 2023 grew 51% YoY. The Yuan Plus/Atto 3, Dolphin and Seagull models remained its top-selling models, jointly accounting for over 70% of total BYD BEV sales. Besides China, BYD cars are also becoming popular in Thailand and other Southeast Asian countries. BYD is also planning to set up a manufacturing plant in Hungary in Europe.
Tesla: Tesla’s sales grew 20% YoY in Q4 2023. The Tesla Model Y remained the best-selling passenger car model globally. In 2023, Tesla sold over 12 million units of the Model Y. In December 2023, the company sold 186 units of its long-awaited Cybertruck.
Volkswagen Group: In Q4 2023, Volkswagen Group’s EV sales increased 15% YoY. Volkswagen brands contributed 53% of the group’s total EV sales, followed by Audi and Skoda. Volkswagen’s ID.3, Audi’s Q4 e-tron and Volkswagen’s ID.4 were the group’s top-selling models, accounting for 50% of its total EV sales. Volkswagen launched the new ID.7 Vizzion in China in Q4 2023.
*Data on this page is updated every quarter
For EVs, we consider only BEVs. PHEVs, HEVs and fuel cell vehicles (FCVs) are not included in this study.
For detailed insights on the data, please reach out to us at sales(at)counterpointresearch.com. If you are a member of the press, please contact us at press(at)counterpointresearch.com for any media enquiries.
For a more detailed electric vehicle model sales tracker, click below:
Excel File
Published Date: February 2024
This report tracks the global passenger vehicle sales by brand and by model across 23 regions (China, USA, Germany, UK, France, Spain, Japan, India, Italy, South Korea, Thailand, Indonesia, Vietnam, Brazil, Argentina, Russia, Malaysia, Philippines, Singapore, ROE, LATAM, MEA and Oceania) quarterly. The report will help to understand regional trends, brand dynamics and type of EV penetration. The period covered in this report is from Q1 2018 to Q4 2023.
Recommended Reads:
Copyright ⓒ Counterpoint Technology Market Research | All rights reserved
