The Top 5 EV Automotive Manufacturers in the World According to Sales, Q1 2023

Tesla and BYD, the two biggest OEMs by volume, saw a gain in market share in Q1.

In the first quarter of 2023, over 2.5 million plug-in electric vehicles were sold, making up nearly 13% of all automobiles sold worldwide. Today, we’ll examine the biggest producers (automotive companies) of rechargeable automobiles.

Over half of the total plug-in car sales are attributed to five OEMs, according to statistics from EV-Volumes that Jose Pontes presented.

As per customary, we will first examine the volume and market share of the leading OEMs in the entire plug-in industry before examining the battery-electric market.

Plug-in (BEV + PHEV)

The top five positions in the plug-in type, which includes both battery-electric and plug-in hybrid vehicles, are unchanging.

With almost 548,000 units shipped in Q1 as well as a 21.3 percent share, BYD is still the market leader. In comparison to Q1 2022, the Chinese manufacturer’s volume nearly doubled year over year, and its market share significantly grew.

With 422,873 BEV vehicles and a 16.5% market share, Tesla ranks second in the overall plug-in segment.

The fact that BYD and Tesla improved both their volume and market share (year over year) represents one of the greatest intriguing aspects, indicating that they are surpassing the overall plug-in market.

By volume, the Volkswagen Group ranks third among OEMs (189,093), although its market share fell from Q1 2022 to Q2 2022.

In the first three months of 2023, the top five automakers—Geely-Volvo, SAIC, and others—will account for approximately 57% of the total plug-in electric vehicle sales worldwide.

Plug-in automobile registrations in Q1 2023 compared to Q1 2018:

1. BYD Group: 548,148 & a share of 21,3% (vs. 14,3%)
2. Tesla: 422 873 shares, up from 15.5%.
3. Vw Group: 189,093 & 7.4% of the market (down from 8.8%)
4. Geely-Volvo: 156,475 & 6.1% of the market (against 5.6%).
5. SAIC: 141,661 & 5.5% share (vs. 8.5%) (including SAIC-GM-Wuling).

1,458,250 (56.8% share) were in the top 5.
1,110,877 (43.2% share) are others.
Grand Total: 2,569,127

BEVs, or battery-only vehicles

The top five automakers are slightly different when it comes to all-electric vehicle registrations because Tesla, which is focused on BEVs, is far ahead of the competition (no change here). The business delivered 422,875 electric vehicles in Q1 2023, a 36 percent increase from the previous quarter.

Its market share will rise to 23.6 percent as a result. It’s interesting that Tesla produces almost one out of every four new all-electric automobiles (including microcars).

BYD, which increased its market share to 14.7 percent in Q1, is still a formidable second-place competitor and is doing so even more quickly than Tesla.

Although ranking third, The VW Group is roughly on level with SAIC. In the first quarter, the company’s revenue and market share both grew to 7.5 percent.

SAIC lost its third spot due to a fall of 7.4% (from 10.7% compared to a year ago).

With slightly over 100,000 units sold in Q1, Geely-Volvo is currently the fifth-biggest OEM in the BEV segment (5.7 percent share).

The top five manufacturers also sold over fifty percent of all BEVs, similar to the case of the larger plug-in vehicle category.

Registrations of all-electric vehicles in Q1 2023 (compared to last year):

1. Tesla, with 422,873 shares and a 23.6% market share.
2. BYD Group: 264,300 & 14.7% (vs. 10%) of the market share
3. VW Group: 133,933 & 7.5% of the market (up from 6.8%)
4. SAIC: 133,269 & 7.4% share (vs. 10.7%), including SAIC-GM-Wuling

Geely-Volvo, with 102,018 and a 5.7% stake.
1,056,393 (17% share) were in the top 5.
Others: Approx 0.78 million (43% of others)
Grand Total: around 1.84 million.

The Top 5 EV Automotive Manufacturers in the World According to Sales, Q1 2023

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