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Tablet Specs Now Favoring Productivity Over Portability

With tablets gaining a wider consumer base, tablet specifications are undergoing changes to meet the demands of a diverse range of applications.
Display sizes are increasing every year to cater to the growing range and consumption of multimedia and applications.
Battery capacity has seen continued advancements following the adoption of bigger displays.
Previously seen as only optional, devices such as the stylus and external keyboard have been accepted as necessary tools to realize the tablet’s fullest capabilities.

From a device used by a niche consumer base to a device widely used for work, study and entertainment at home during the COVID-19 pandemic, thetablethas covered a big distance in a short span of time. This surge in its popularity can be attributed to its ability to combine the portable appeal of smartphones and the productivity offered by notebooks. The popularity, in turn, has triggered changes and improvements in the tablet’s features to meet the demands of a diverse range of applications.

These changes range from enhancements in technical specifications to refinements in the tablet’s light and slim structure. However, with tablets steadily approaching maturity in the market, certain ubiquitous preferences have emerged that are shifting the device away from its core design philosophy of portability. The focus is now more on increasing its productivity by improving certain technical parameters and features.

Tablet display size

One such improvement is the steady increase in display sizes. Being the sole medium through which users interact with tablets, displays have increased in size with every subsequent year, despite an increase in the weight of the device, to cater to the growing range and consumption of multimedia and applications.

Global Tablet Market Shipment Share by Display Size

Source: Counterpoint Research

Over the three years from 2020 to 2022, tablets continued to adopt increasingly larger display sizes with the 11” and above screens gaining share in total volumes. This trend is expected to continue in 2023. With the display sizes of 11” and above taking 34% of the tablet market in 2022 and forecasted to grow an additional around 4% points in 2023, tablets have started to take on roles traditionally filled by laptops for tasks in professional and educational settings, according toCounterpoint’s Tablet Research.

Battery capacity

增加电池容量是另一个技术aspect that has seen continued advancements following the adoption of bigger displays. Occupying the maximum weight in a tablet, larger battery capacities have been crucial in supporting the ever-increasing demand for more power, stemming from larger and brighter displays and other performance enhancements.

Average Battery Capacity

Source: Counterpoint Research

After remaining relatively stagnant until 2021, the average battery capacity of tablets increased by 8% in 2022 due to the pandemic-triggered increase in usage. With the emphasis now being placed on longer usage than portability, tablet OEMs have started introducing devices with larger battery capacities to reduce the frequency of charging between uses. The average battery capacity is expected to continue growing, reaching 6658 mAh in 2023.

External hardware

Lastly, the most noticeable shift in preference from mobility to productivity is the acceptance of external hardware as the new normal in the use of tablets. Previously seen as only optional, devices such as the stylus and external keyboard have been accepted not as remedial devices but as necessary tools to realize the tablet’s fullest capabilities. While these devices still come separate from tablets, they are offered by most tablet OEMs, with the majority of popular tablets optimized for their combined usage.

Whiletabletsare still valued for their lightweight nature compared to their heavier and bulkier notebook counterparts, they are expected to continue favoring productivity over portability as larger tablets continue to maintain their popularity among consumers and grow further upon the increasing frequency of adoption of these preferences.

European EV Sales Increased Over 13% YoY in Q1 2023 with Tesla Model Y as Bestseller

EV sales penetration dropped to 18.4% in Q1 2023 from 27.6% in Q4 2022
Tesla Model Y was the best-selling EV model across all major countries except Spain.
EV sales penetration is expected to exceed 25% again by the end of the year.

London, New Delhi,S迭戈,布宜诺斯艾利斯,香港、北京、首尔– July 5, 2023

Europe’s passenger electric vehicle* (EV) sales increased by more than 13% YoY in Q1 2023, according to the latest research from Counterpoint’sEurope Passenger Electric Vehicle Model Sales Tracker. While overall passengercar salesin Europe are showing signs ofimprovement,y have not yet reached pre-COVID-19 levels. In terms ofoverall EV sales, Germany led the pack, closely followed by the UK, France, Italy, the Netherlands and Norway. Meanwhile, the share of EVs in total passenger vehicle sales was the highest in Norway and the Netherlands.

In Q1 2023,Battery EV(BEV) salesjumped 32% YoYwhile plug-in hybrid EV (PHEV) sales declined 13% YoY. Consequently, the EV share of total passenger vehicle salesdeclinedduring the quarter from that a year ago.

Meanwhile, there has beennotable progressin the European market for Hybrid EVs (HEV) and mild-hybrid EVs (MHEVs). This indicates that Europe is making efforts to tap into the lower-end EV market while simultaneously developing battery ecosystems and fostering a circular economy. These initiatives are being undertaken before placing a stronger emphasis on pure EV sales.

Commenting on the market dynamics,Senior Analyst Soumen Mandalsaid, “In Q1 2023, mostEuropean EV saleswere captured by the top five automotive groups – Volkswagen Group, Tesla, Stellantis, Mercedes-Benz and Hyundai-Kia. They accounted for nearlytwo-thirdsof the market share. When it comes to pure electric vehicles (BEVs),Teslaholds the second position, slightly behindVolkswagen. In the plug-in hybrid electric vehicle (PHEV) market, Volkswagen takes the lead, followed byMercedes-BenzandBMW.”

“Chinese EV manufacturersstruggled to increase their market share in Europe during the quarter. However,MG, BYD, NIO, ORAandAiwaysmanaged to improve their sales compared to the previous year. On the other hand,LYNK & CO,HongqiandXpengfaced challenges in the European market. Nevertheless, we expect Chinese automakers to be able to enhance their market share in the coming quarters by offering cost-effective vehicles with advanced features, as the EV market is expected to perform better.”

Thetop-selling EV modelduring Q1 2023 was theTesla Model Y, followed by theVolvo XC40,Tesla Model 3, Volkswagen ID.3, and Audi Q4 e-tron. These top five models account for nearly a quarter of the total shipments. The Tesla Model Ydominatesthe market across major European countries, demonstrating Tesla’s strong brand presence in the region, except in Spain where it faces more competition.

Discussing the market outlook,Research Vice President Peter Richardsonsaid, “The penetration of EVs in total passenger vehicle sales in Europe experienced adeclinethis quarter, dropping to 18.4% from 27.6% in Q4 2022. This is a significant shift compared to the previous trend of continuous QoQ growth. Except France, all major countries experienced this decline during Q1 2023.”

“Several factors contributed to this decline, including theunstable economic conditionsand the removal of EV subsidies by Norway. Germany, the largest EV market in Europe, experienced a decline as thelooming recessionandcautious consumer spendinghurt the EV market. These circumstances impacted the overall adoption of EVs in the region. However, since April, the European region has shown signs of recovery. As a result, we expect the share of EVs to rebound andsurpass 25%again by the end of this year.”

*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

*The countries in this study include Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, the UK and Ukraine.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not covered by this study.

The comprehensive and in-depth ‘Europe Passenger Electric Vehicle Sales Tracker, Q1 2018-Q1 2023’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

市场研究是一个世界人口对位技术l research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Follow Counterpoint Research

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US EV Sales Up 79% YoY in Q1 2023 Helped by Tax Credit Subsidy

Tesla sold more EVs than the next 18 automotive groups combined in Q1 2023.
Brands like Hyundai, Audi, BMW, Volvo and Nissan remain ineligible for the EV tax credit.
US EV sales expected to reach near 1.5 million units in 2023 if economic conditions continue to improve.

New Delhi,London,S迭戈,布宜诺斯艾利斯,香港、北京、首尔– June 15, 2023

US passenger electric vehicle* (EV) sales soared over 79% YoY in Q1 2023, according to the latest research from Counterpoint’sUSA Passenger Electric Vehicle Model Sales Tracker. This strong growth helped the USsurpassGermany to become the world’ssecond-largest EV market,largest being China. Battery EVs (BEV) accounted for 81% of all passenger EV sales in the US while plug-in hybrid EVs (PHEVs) made up the rest. In Q1 2023,Tesla’s salesoutperformedthe combined sales of thenext 18 automotive groups, which collectively represent 34 automotive brands.

Commenting on the market dynamics,Research Analyst Abhik Mukherjeesaid, “Total US passenger vehiclesales improved2023年第一季度同比。美国经济的迹象recovery withlower inflationandimproving consumer sentiment. Although EV sales saw strong growth during the quarter, those of conventional passenger vehicles remained flat. One reason was the introduction of anEV tax credit of up to $7,500, which has played a crucial role in driving up EV sales. Currently,around 20 modelsin total offered by Tesla, GM, Ford, Stellantis, Rivian and Volkswagen are eligible for the tax credit. However, strict eligibility conditions set by the US government haveexcludedbrands such as Hyundai, Nissan, BMW, Audi and Volvo from benefiting from the EV tax credit scheme in 2023.”

Thetop 10 EV modelsin the US accounted for69%of overall passenger EV sales during the quarter. Tesla’s Model Y retained its title of the best-selling EV model, while it also earned the title ofbest-selling passenger carmodel globally. Apart from BEVs, PHEVs are also gaining popularity in the US.

Commenting on the market outlook,Research Director Jeff Fieldhacksaid, “With the US economy showing signs of recovery, the auto industry, particularly the EV sector, is being helped by government policies announced last year. Tax credits for new and even used EVs are helping consumers, while investments in streamlining theEV battery supply chain,establishment of a robust network of EV charging stations and the setting up of battery recycling plants nationwide will all support EV sales growth. Therefore, we expect US EV sales to reach around1.5 million units in 2023if economic conditions continue improving.”

*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brand/company.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth‘USA Passenger Electric Vehicle Sales Tracker, Q1 2018-Q1 2023’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

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Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Jeff Fieldhack

Counterpoint Research

press@www.arena-ruc.com

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Global EV Sales Up 32% YoY in Q1 2023 Driven by Price War

One in every seven cars sold during Q1 2023 was an EV.
Tesla Model Y becomes the best-selling passenger car model globally for the first time ever.
EV sales are expected to reach over 14.5 million units by the end of 2023.

New Delhi,London,S迭戈,布宜诺斯艾利斯,香港、北京、首尔– June 7, 2023

Global passenger electric vehicle* (EV) sales in Q1 2023 rose 32% YoY, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. One in every seven cars sold during Q1 2023 was an EV. Battery EVs (BEVs) accounted for 73% of all EV sales during the quarter, while plug-in hybrid EVs (PHEVs) made up the rest.

TheUSsurpassedGermanyto become the world’s second-largest EV market in Q1 2023 whileChinaremained theleader. In China, EV sales experienced a remarkable 29% YoY growth, despite a 12% decline in overall sales of passenger vehicles in the country. In the US, EV sales soared over 79% YoY during the quarter. The top 10 automotive groups, encompassing 48 automotive brands, dominated the global EV market in Q1 2023, capturing three-fourths of the total global EV sales.

Commenting on the market dynamics,Research Analyst Abhik Mukherjeesaid, “Global EV sales were largely driven by China with 56% of total EV sales in Q1 2023 coming from this market. The elimination of the NEV purchase subsidy in China resulted in lower-than-expected EV sales in January 2023.Tesla slashed pricesfor its models globally in January, following which other automotive brands announced similar cuts for their car models starting in February, which led to an improvement in EV sales. During February and March, almost 40 automakers, includingBYD,NIO,Xpeng,Volkswagen,BMW,Mercedes–Benz,Nissan,HondaandToyota, reduced their vehicle prices by a couple of hundred dollars to tens of thousands of dollars, which eventually stoked a competitiveprice warin China. Initially, it was thought that the price war would end soon and that auto OEMs would benefit from increased sales. However, as the price war continues to stretch, several automakers in China have reported reduced earnings and even losses.”

Thetop 10 EVmodels accounted for37%of the total passenger EV sales in Q1 2023. Tesla’s Model Y remained the best-selling model globally followed by Tesla’s Model 3 and BYD’s Song. In Q1 2023, Tesla’s Model Y achieved the notable distinction of becoming thebest-sellingpassenger car modelworldwide, surpassing even conventional fuel vehicles.

Commenting on the market outlook,Senior Analyst Soumen Mandalsaid, “Although sales of the traditional internal combustion engine (ICE) vehicles remained stable in Q1 2023 compared with that in the year-ago period, the significant growth in EV sales indicates arapid transitionfrom traditional vehicles to EVs.”

“By the end of 2023, global EV sales are expected to surpass14.5 million units, according to our forecast. With the implementation of the EV tax credit subsidy in the US, EV sales in the country are projected to significantly increase this year. To meet the eligibility criteria for the tax credit, automotive OEMs are moving to partner with battery suppliers and establish battery manufacturing plants across North America. Consequently, the US is poised tosurpassthe EU in the race tobuild EV batteries.”

*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brand/company.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q1 2023’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

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Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

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Survey: 72% of Smartphone Users in India Experience Low-battery Anxiety

65% of smartphone users go through emotional discomfort due to battery drainage.
72% of the respondents start feeling anxious at a battery level of 20% or less*.
For 40% of users, the smartphone is the first and the last thing they use when they start or end their day.
87% of people use their smartphones when they are getting charged.
About half of the respondents charge their smartphones twice a day.
60% are likely to replace their smartphones for better battery performance.

New Delhi, Buenos Aires, Denver, London, Hong Kong, Beijing, Seoul – May 5, 2023

As many as 65% ofsmartphoneusers inIndia由于电池半径标注经历情绪上的不适inage, according to a consumer study by Counterpoint Research. Further, 72% of the survey respondents start experiencing low-battery* anxiety at a battery level of 20% or less.

Counterpoint Research conducted a survey amongsmartphone在印度用户了解他们的情感经验erience in the event of battery drainage. The study highlights the factors and instances that reflect low-battery anxiety in people’s everyday routines and lifestyles. It also captures how people try to deal with low-battery anxiety.

The study divides the discomfort emotions experienced due to low-battery anxiety into six categories – (1) Worried/Anxious (2) Disconnected (3) Helpless (4) Fear of missing out (FOMO) (5) Nervous (6) Unsafe. Among these, “Worried/Anxious” is the emotion experienced the most with 28% of the respondents ticking the choice. Further, for 9 out of 10 users, a higher degree of low-battery anxiety kicks in at a battery level of 30% to 50% when compared to the 0%-30% level.

40% of the respondents use their smartphones the first thing in the morning, as soon as they wake up, and the last thing before they go to bed. 42% of the respondents usesmartphonesmost for entertainment, where social media is at the top. Further, 87% use their phones while they are being charged, and two-thirds use theirphoneseven while they spend time with family or are working/studying. As a result, most people charge their phones multiple times daily, with 46% charging twice a day.

Commenting on low-battery anxiety,Research Director Tarun Pathaksaid, “We carry our world in our pocket via smartphones. From entertainment to official work to connecting with others, our smartphones execute almost everything for us. As a result, people have developed a phobia of not being able to use their phones. Further, social media being the top activity for which smartphones are used, people have this fear of missing out on things around them. That is why most people keep searching for charging opportunities and end up feeling anxious and worried about the thought of running out of battery and not being able to use their smartphones. The feeling of low-battery anxiety is the highest in the working age group of 31-40 followed by the 25-30 age group.”

On dealing with low-battery anxiety and NoMoPhobia (no-mobile phobia),Senior Analyst Arushi Chawlasaid, “Most people (92%) use the smartphone’s power-saving mode to ensure longer use of their device during the day, while 64% of them switch on the power-saving mode when the battery level is 20% or less. Further, 50% use a power bank, among which more than one-third use it at least once a day.”

Chawlaadded, “NoMoPhobia has made people decide their charging patterns accordingly. It is interesting to observe that most people depend on in-built device options like power-saving mode to ensure a longer battery life daily. Also, given the dependence people have on their phones, many (65%) limit the use of their phone to save battery for more crucial times, while 82% cut down the use of social media applications like Instagram, LinkedIn, Twitter and Facebook to save battery. Therefore, the battery is a key buying factor when purchasing a smartphone. 60% of the respondents are likely to replace their current smartphone for better battery performance.”

With the fear of not being able to use one’s smartphone on the rise, innovation as well as improvisation around smartphone battery life and longevity is an aspect that can’t be ignored.

*20% or less is considered as the level of low battery in the smartphone ecosystem.

Clickhereto access the full report titled ‘NoMoPhobia Low-battery Anxiety Consumer Study, 2023’.

Disclaimer

This survey was sponsored by OPPO Mobiles India to understand low-battery anxiety among smartphone users in India. Counterpoint Research conducted this survey mostly across Tier 1 cities and some Tier 2 cities to capture a sample size of more than 1,500 respondents. An online survey was performed to capture quantitative insights from online and offline buyers using their current smartphones for a duration of one to two years. We expect the results to have a statistical precision of +/- 4%.

Background

市场研究是一个世界人口对位技术l research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Tarun Pathak

Arushi Chawla

Nitin Zod

Counterpoint Research

Report: NoMoPhobia Low-battery Anxiety Consumer Study

Overview:

Counterpoint Research conducted a survey among smartphone users in India to understand the emotions they experience in the event of battery drainage. The study highlights the factors and instances that reflect low-battery anxiety in people’s everyday routines and lifestyles. It also captures how people try to deal with low-battery anxiety. This survey was sponsored by OPPO Mobiles India to understand NoMoPhobia (fear of not being able to use a smartphone) due to low-battery anxiety among smartphone users in India. The survey was conducted mostly across Tier 1 cities and some Tier 2 cities to capture a sample size of more than 1,500 respondents. Quantitative insights were collected from online and offline buyers using their current smartphones for a duration of one to two years. Also, the responses belong to a heterogeneous group categorized based on age, education, gender and occupation.

Table of Contents

[one_half padding=”0 10 px 0 0″]

Key Takeaways
Low-battery Anxiety Among Smartphone Users
- Discomfort around smartphone battery drainage
- Low battery anxiety by battery level
- Degree of low battery anxiety by battery level
- Smartphone usage morning and night routine
- Smartphone usage while it is charging
- Charging frequency
- Charging opportunity

[/one_half]

[one_half_last padding=”0 0px 0 10 px”]

- Use of power-saving mode
- Likeliness of replacing smartphone for better battery performance

Appendix
- Demographic split
- Target respondents
- Research design: Methodology

[/one_half_last]

Number of Pages: 19 |Published Date:May 2023

Watch our Senior Research Analyst,Arushi Chawla, discuss the rising phenomenon oflow battery anxiety, also known as Nomophobia, among smartphone users in India on The Quint YouTube channel. Also joined by Divija Bhasin a psychologist and content creator and Damyant Singh Khanoria, CMO- OPPO India.

Watch the full video below:

Download the report by filling the form below:

Global Connected Construction Machine Shipments Grew 6.7% YoY in 2022

Onein three construction machines sold in 2022 had embedded connectivity.
The connected construction machinery market is expected to see an annual growth rate of 11% over the next eight years.
The top five players – Caterpillar, XCMG, Sany, Komatsu and Volvo – captured 60% of connected construction machine shipments in 2022.

San Diego, Buenos Aires, London, New Delhi, Hong Kong, Beijing, Seoul – April 27, 2023

Global connected construction machine shipments grew 6.7% YoY in 2022 despite a decline in overall construction machine shipments, according to Counterpoint’s latestGlobal Connected Construction Machine Marketreport. One in three construction machines sold had embedded connectivity. The slowdown in China’s construction activity impacted the shipments of Chinese players and overall global shipments. However, due to a 10% YoY increase in the average selling price (ASP) in 2022, construction machine revenues grew 3% YoY to reach$213 billion. The ASP increased due to supply shortages and addition of features likeelectrificationandconnectivity.

Construction machines refer to equipment, machinery and vehicles specially designed for construction tasks such as excavation, loading and unloading, moving materials, material handling and demolition. The construction machinery also includes mining machinery applications like rock drilling, rock cutting, crushing and tunneling. Engineering and construction projects are complex and difficult to manage. Connected machines help measure construction activity, which is regarded as a barometer of economic prosperity for any region.

Commenting on connected construction machine brand dynamics,SeniorResearch AnalystSoumen Mandalsaid, “Construction machinery is a highly concentrated market with the top five players –Caterpillar,XCMG,Sany,KomatsuandVolvo– capturing 60% of connected construction machine shipments in 2022. Smaller players likeLiebherrare aiming to make inroads by providing connectivity in a larger proportion of their SKUs.JCBandHitachicater to the lower end of the market by offering cost-effective solutions and have fewer machines with connectivity. We expect significant growth opportunity for connectivity for these brands in the coming years.”

The demand for connectivity is driven by theft prevention, predictive maintenance, automated operations, distance monitoring,AR/VR-based simulation and usage-based applications like insurance, vehicle financing and rental services. The tracking of machine assets also helps schedule construction operations in a better way and complete projects on time.Orbcomm,Teltonika,Calamp,syniotec,Machinemax,Trackunit,VisionTrack,Tenna,TrimbleandDPL Telematicsare a few among many players embeddingconnectivityin heavy construction machines while offering complimentary services like connectivity and device managementplatforms.

Commenting on the market outlook,Associate DirectorMohit Agrawalsaid, “Global construction machine shipments are likely to remain flat and reach2.33millionunits by 2030. The current downtrend is expected to last another two to three years. We expect the market to rebound from 2025 onwards. The scarcity of skilled technicians, laborers and drivers will fuel the growth ofautomatedmachines. We expect nearly75%of construction machines to have embedded connectivity by 2030 as the industry shifts towards electrification and autonomous operations. Further, we expect the connected construction machinery market to see an annual growth rate of11%over the next eight years. Currently, 4G is the leading technology in the connected construction machine market but we expect5Gto be the most preferred technology by the end of the forecast period.”

The comprehensive and in-depth ‘Global Connected Construction Machine Market 2022的报告现在是可用的purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

市场研究是一个世界人口对位技术l research firm specializing in products in the technology, media and telecom (TMT) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Soumen Mandal

Mohit Agrawal

Counterpoint Research

press@www.arena-ruc.com

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Electric Vehicles Gain Ground in Southeast Asia; Thailand Dominates Volumes

Thailand led the region’s passenger EV sales in 2022 with a 58% share.
Nearly two in three EVs sold in 2022 were BEVs.
Wuling’s newest model Air EV was the region’s bestseller.

New Delhi,London,S迭戈,布宜诺斯艾利斯,香港、北京、首尔–March 31, 2023

Passenger electric vehicle (EV*) sales** in Southeast Asia (SEA^#) accounted for just under 2% of the region’s total passenger vehicle sales in 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker.Thailandwas the most advanced, accounting for 58% of the region’s EV sales, followed byIndonesiaandVietnam. Thailand’s government has been pushing EV sales through demand-side incentives and corporate income tax incentives for EV manufacturers.

Wuling’s Air EVwas the best-selling model across the region in 2022, being one of the most affordable EV options. In terms of automotive groups,Vingroupled the SEA EV sales, closely followed byWuling(part of SAIC-GM-Wuling group) andVolvo(Geely Holdings subsidiary). Battery EVs (BEVs) represented 64.6% of the total EV sales while plug-in hybrid EVs (PHEVs) constituted the rest.

Commenting on the market dynamics,Research AnalystAbhilash Guptasaid, “Passenger EV demand is increasing gradually across the SEA region but sales are tiny compared toglobal EV sales, constituting just 0.5% of the global total for 2022. However, as geopolitical tensions are rising between China and the West, SEA is becoming an attractive option for Chinese auto manufacturers looking to expand abroad. Therefore, we can expect to see more production plants in SEA in the longer term, which will help boost EV sales.Thailandhas the largest auto manufacturing sector in SEA. It is aiming to leverage its manufacturing expertise to attract automakers to produce and sell EVs there.IndonesiaandVietnamhave the advantage of mineral resources, which gives them an edge over others in the region. The SEA countries have set lofty EV targets and have introduced many incentives to promote EV adoption among consumers and to attract EV manufacturers to set up bases.”

Source: Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker, Q4 2022

Commenting on the market outlook,Senior Analyst Soumen Mandalsaid, “Although EVs are currently a niche market in SEA, we do expect their sales to double in 2023. However, it will be difficult for the SEA countries to achieve theirEV targetsand increase the share of renewables in the electricity grid at the same time.

SEA countries have the opportunity to display their manufacturing capabilities and grow, given the interest of many international auto manufacturers to invest in the region. Those that enter the market early will have an edge, allowing them to secure a substantial share of the market. The SEA region could adopt the approaches taken byChinaandEurope, which provide incentives based on CO₂emission levels. Doing so would encourage both consumers and manufacturers to shift towards more environment-friendly vehicles.”

*For EVs, we consider only BEVs and PHEVs. This study does not include hybrid EVs and fuel cell vehicles (FCVs).

**Sales refer to wholesale figures, i.e., deliveries from factories by the respective brands/companies.

^#SEA includes Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q4 2022’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

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Analyst Contacts

Abhilash Gupta

Soumen Mandal

Brady Wang

Peter Richardson

Counterpoint Research

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One in Four Cars Sold in China in 2022 Was an EV With BYD Powering Country’s Outperformance

China’s EV sales almost doubled in 2022 with 87% YoY growth.
BYD led the market, followed by GM Group, Tesla, Geely Holding and GAC Group.
China’s EV sales are expected to exceed 8 million units in 2023.

New Delhi,London, Beijing,San Diego, Buenos Aires, Hong Kong, Seoul – March 15, 2023

China’s passenger electric vehicle* (EV) sales almost doubled in 2022, growing 87% YoY, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. EVs now account for one in four cars sold in China. Interestingly, the share of battery EVs (BEVs) in the country’s total EV sales decreased in 2022, with plug-in hybrid EVs (PHEVs) increasing their share to 24%.Chinawas the second fastest-growing market among the world’s top 10 EV markets in 2022 in terms of sales. Japan was on top with a 119% YoY growth. Nevertheless, China accounted for nearly 59% of the global EV sales volume.

Commenting on the market dynamics,Senior AnalystSoumen Mandalsaid, “China’s EV market is the most vibrant globally. More than 94 brands cumulatively offer over 300 models ranging from just $5,000 to over $90,000. Local brands command 81% of the EV market, among whichBYD,Wuling,Chery,ChanganandGACare a few of the top players. China also has a wide range of EV start-ups, likeNio,Xpeng,Neta,AITO,IM Motors,Zeeker,AiwaysandLivan, which are performing well and are giving strong competition to established foreign brands.”

Mandal added, “In China,Teslaexperienced a nearly 5% YoY drop in its market share due to production halts in April and May 2022 caused by the resurgence of COVID-19. Although production resumed at full capacity in June, Tesla faced challenges such as the availability of a limited product mix, increased costs due to a difficult supply situation, competition from affordable options offered byEVstart-ups, and domestic sentiment that hindered its efforts to solidify its position in the Chinese market. Meanwhile,BYDincreased its market share by more than 11% YoY in 2022, with six out of the top 10 models in the Chinese market coming from the brand, compared to just three in 2021.”

In 2022, the top 10 EV models accounted for almost 45% of the total EV sales, a 3% decrease from 2021. This suggests that new start-ups are offering strong competition to established players. Further, in Q4 2022, theBYDSongsurpassed theWuling Hongguang MINI EVas the top-selling EV model, ending the latter’s eight-quarter reign in the market.

Discussing the market outlook,Associate DirectorBrady Wangsaid, “We expect EV sales to exceed 8 million units in 2023. In January 2023, BYD raised its EV prices by $250-$900 due to the rising cost of raw materials and phasing out of EV purchase subsidies. Later, in February and following Tesla, BYD announced price reductions. The prices of the 2021 versions of the Han and Qin models were reduced by an average of $2,500. The prices of new BYD models were slashed by $860-$1,150. The phasing out of subsidies and the wealth of EV players can easily lead to aprice waras brands fight formarketshare.”

*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q4 2022’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

Analyst Contacts

Soumen Mandal

Abhik Mukherjee

Brady Wang

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

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Berlin Factory Takes Tesla to Top Spot in Europe EV Sales as Chinese Brands Gain Ground

EVs contributed over 29% of Europe’s total passenger vehicle sales in Q4 2022.
Chinese EV brands sold nearly 58,000 units in Europe during 2022.
Europe’s EV sales are expected to exceed 4 million units in 2023.

London, New Delhi,S迭戈,布宜诺斯艾利斯,香港、北京、首尔– March 6, 2023

Europe’s passenger electric vehicle* (EV) sales in Q4 2022 grew over 34% YoY to bring the 2022 total to over 2.7 million units, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. Battery EVs (BEVs) continued to increase their share, growing by 36% YoY to account for almost 63% of all EV sales, while plug-in hybrid EVs (PHEVs) accounted for the rest. Germany was the largest EV market in Europe with almost 39% of total sales, followed by the United Kingdom and France. Germany also remained Europe’s fastest-growing EV market in Q4 2022 with 75% YoY growth, while Norway and Sweden’s overall passenger vehicle sales had the highest EV share in the continent. In terms of brands, Tesla managed to overtakeMercedes Benzto grab the top spot in Europe.

Commenting on the market dynamics,Research Analyst Abhik Mukherjeesaid, “EV sales in Europe are increasing at a slower pace than expected. But since many European brands target to convert most of their models to electric by 2025, we expect EV sales to accelerate in the next two years. European automakers need to keep a close eye on Chinese competitors. MostChinese brands, like BYD, Lynk, NIO and XPeng, made their European debut in 2021, selling just under 21,000 EVs cumulatively. In 2022, Chinese brands sold almost 58,000 EVs, capturing over 2% of the market. With the current trajectory, their share is expected to double to around 5% by the end of 2023.”

Market summary

Teslabecame Europe’s top-selling EV brand in Q4, dethroning Mercedes Benz. Tesla’s Model Y also became thebest-selling EVin Europe during Q4 and for the full year of 2022, followed by its Model 3. Production capacity at Tesla’s Berlin factory reached 3,000 units per week in November 2022. The factory played a crucial role in Tesla becoming the best-selling EV brand.

Volkswagen’s EV sales grew by almost 48% YoY in Q4, helping it stay the second best-selling EV brand in Europe. Volkswagen has been spearheading its ID models and the launch of an updated version of the ID.3 model will help the brand hold its position more firmly.

Mercedes-Benzsold over 76,000 EVs in Europe during Q4, a growth of 46% YoY. The top-selling models were the A-Class, EQA and GLE-Class. PHEVs accounted for almost 67% of Mercedes’ Q4 EV sales. Tesla and Volkswagen pushedMercedesto third place in Q4 2022.

Discussing the market outlook,Senior Analyst Soumen Mandalsaid, “EVs contributed over 29% of Europe’s total passenger vehicle sales in Q4 2022. We expect that more than4 million EVswill be sold across Europe in 2023. The rise of Chinese brands will likely pose a threat to local manufacturers. Lynk & Co, a subsidiary of Geely Holding, sold over 20,000 PHEVs during Q4 2022, with its Lynk 01 model entering the list of top 10 best-selling EV models in Europe. The implementation of strict laws to limit carbon emissions makes battery manufacturing costlier across Europe, thus making European-produced EVs more costly than those imported from China. Unless policies are brought for vehicle imports, the sales of Chinese EVs will continue to increase across Europe.”

*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

*The countries in this study include Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom and Ukraine.

*For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not covered by this study.

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q4 2022’ is now available for purchase atreport.www.arena-ruc.com.

Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.

Background

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

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