The strong rise of the Chinese automaker has been threatening Tesla's throne.
More than 10 million electric rechargeable vehicles were delivered to consumers in 2022, accounting for 14% of total global auto consumption. Plug-in electric vehicles include pure electric vehicles (BEV) and plug-in hybrid vehicles (PHEV).
According to EV-Volumes data, the top 5 manufacturers account for more than half of total global electric vehicle sales.
Charging electric vehicles (BEV and PHEV)
Compared to 2021, the order of the Top 5 electric vehicle manufacturers in 2022 has changed significantly, when the name BYD from China has surpassed Tesla, rising to the number 1 position.
Specifically, with sales of more than 1.85 million vehicles, BYD accounts for 18.4% of the world electric vehicle market share. This sales increased more than 3 times, while the market share increased more than 2 times from 9.1% compared to 2021.
Meanwhile, Tesla achieved sales less than BYD by more than half a million cars, pulling its market share down to 13%, compared to 14.4% a year earlier.
Chinese car company chases Tesla, electric car market order changes - 1
Tesla leads the electric vehicle market for 4 consecutive years - 2018, 2019, 2020 and 2021 (Photo: Tesla).
BYD's rise to the throne also pushed the Volkswagen Group back to third place, with sales of 831,000 vehicles. This sales is equivalent to a market share of 8.2%, down significantly from 11.7% in 2021.
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