Our Q2 2023 Market Monitor report has been published. We release one infographic each quarter to summarize the global smartphone market activities in a single page.
Some quick observations on the smartphone market:
Global smartphone shipments declined 9% YoY in Q2 2023 to reach 268 million units.
Samsung remained the top smartphone player in Q2 2023, while Apple saw a cyclical decline.
Among the top five brands, Apple experienced the smallest YoY shipment decline. Among the top 10 brands, TECNO and Infinix, part of the Transsion Group, saw double-digit YoY shipment growth in the quarter.
In terms of regional performance, only the Middle East and Africa (MEA) exhibited annual shipment growth while North America experienced the highest decline.
The top five brands accounted for almost 80% of the total 5G smartphone shipments in Q2 2023.
Use the button below to download the high resolution PDF of the infographic:
Europe smartphone shipments fell 12% YoY in Q2 2023 to reach lowest since 2012.
Russia only major market to register growth at 4% YoY.
OPPO’s shipments fell 51% YoY hurt by patent issues and difficult market conditions.
2023 smartphone shipments are set to be lower than in 2022.
London, Boston, Toronto, New Delhi, Jakarta, Beijing, Taipei, Seoul – September 1, 2023
European smartphone shipments declined 12% YoY in Q2 2023, marking the lowest quarterly shipment volume since Q1 2012, according to the latest report from Counterpoint Research’s Market Monitor Service.
Western Europe declined by 14% YoY during the quarter while Eastern Europe limited its fall to 8% YoY, despite being in an already battered state. All major European nations performed weakly in Q2 2023, except Russia, which conversely registered 4% YoY growth. However, this was primarily due to lower shipments in Q2 2022 – the first full quarter after Russia’s invasion of Ukraine and the resulting sanctions and market exits of prominent smartphone players.
OPPO had a difficult time in Q2 2023 with patent disputes and uncertainty in several countries, due to which the brand’s shipments dropped 51% YoY. The uncertainty is likely to persist which will result in further shipment declines in the coming quarters.
realme grew 12% YoY, driven primarily by Russia, which accounted for 55% of the brand’s shipments in the region. In Russia, realme benefitted from Samsung and Apple’s market exit, which allowed the company to fill the void left by these heavyweights. Additionally, realme has remained in the second position in Russia for five straight quarters and has been closing the gap with the market leader Xiaomi.
HONOR registered 9% YoY growth during the quarter due to the base effect and its ongoing expansion outside China.
Commenting on the current market dynamics,Research AnalystHarshit Rastogisaid, “Despite falling shipment volumes, the higher price bands (wholesale prices exceeding $600) have been capturing a larger share of the market each year. They also have a longer replacement cycle compared to mid-segment and lower-price band smartphones, which further dampens demand. Consequently, OEMs are likely to focus on increasing their ASP and concentrate on services to drive revenue growth in the coming quarters.”
Commenting on market outlook,Associate Director JanStryjakcommented, “The market is unlikely to make a full recovery `this year and 2023 smartphone shipments are set to be lower than in 2022, marking consecutive decade-low shipments in both 2022 and 2023. While the economic conditions are partly to blame, consumer buying behaviour is also changing, suggesting that a lower level of sales will set a new baseline. However, despite the low shipment volumes, upcoming iterations of Apple’s iPhone and Samsung’s foldables are likely to fare well, prompting a bump in sales volumes in the coming quarters.”
Background
Counterpoint Technology Market Research is a global 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.
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,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – July 5, 2023
欧洲的乘客电动汽车(EV)销售creased 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, they 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 salesdeclined在一年前的季度。
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.
Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.
Background
Counterpoint Technology Market Research is a global 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.
The global financial crisis has hit consumers hard, weakening demand and making 2022 the worst year for smartphone shipments since 2013, even taking into account COVID-ravaged 2020.
Times are tough for most smartphone OEMs but HONOR’s performance thus far is noteworthy. While some are having to carefully manage inventory in the face of weak consumer demand, and as most other Chinese OEMs pivot strategies to be less aggressive in their expansion plans due to uncertain market conditions outside of their home market, HONOR is actually expanding.
In its overseas markets (i.e., outside of China), HONOR’s shipments grew almost four-fold in Q1 2023 versus Q1 2022. The only other major OEM to register growth in the same period was HMD; many others posted double-digit declines.
Yes, HONOR’s growth is from a much smaller base than the others, since it only became an independent brand (separating from Huawei) in November 2020, but the growth trajectory – especially in a declining market, is positive.
So, what are HONOR’s growth prospects could we see it higher up the top 10 non-China rankings list in 2024?
Regional expansion is a work in progress
In terms of HONOR’s key overseas markets, over the last year, HONOR has seen impressive growth in three regions –Europe, Middle East & Africa and Latin America– where its shipments increased by over five-, six- and eight-fold respectively.
Source: Counterpoint Research. Note: Europe data excludes Russia and Turkey.
Europe
It took a bit of time for HONOR to get started in Europe following its independence in November 2020. After a period of re-grouping, HONOR returned in early 2022 with partnerships with many major retailers and some of region’s biggest operators (including Three UK, Orange and SFR France and Wind Tre Italy). Operators are crucial to future growth prospects as their sales channels account for around 40% of the region’s smartphone sales in Q1 2023 (and around 55% in Western Europe).
HONOR now operates a three-tier strategy in Europe:
旗舰魔法smartphones, starting with the Magic4 Pro, established HONOR’s premium credentials, and has done well in France, Germany and the UK.
The mid-tier HONOR 50 and 50 Lite were HONOR’s main sellers in Q1 2022, replaced by the HONOR 70 which was HONOR’s key volume driver in Europe in Q1 2023.
The budget X series has done well in the more price-conscious markets, for example Italy and Eastern Europe.
This complete portfolio offering has helped HONOR grow quickly in Europe. HONOR is hoping to maintain this momentum with the well-reviewed Magic5 Pro (launched in Q2 2023) and the Magic Vs (HONOR’s foldable launched in Europe).
Source: Counterpoint Research. Note: Europe data excludes Russia and Turkey.
Latin America
HONOR’s fastest growing overseas region is Latin America, where its shipments grew nearly eight-fold YoY and more than tripled compared to the previous quarter. HONOR is growing share in most of the countries in the region: it entered the top five in Colombia and Peru (where it has double-digit share) and is also seeing success in Panama and Guatemala.
MEA
HONOR identified MEA as a key growth market, especially the Middle East region which has so far weathered the macro headwinds extremely well and is one of the few growing markets in the world. It has entered top five in some key markets such as UAE, Saudi Arabia, and Iraq.
HONOR bringing new flagships to global markets
HONOR has so far relied on its Number and X series to grow outside of China. However, it is now looking to its Magic series to help secure its position as a key player, adopting a dual flagship approach with the Magic5 Series and Magic Vs smartphones.
TheMagic5 Prois HONOR’s most ambitious flagship to date and it is getting a positive reception on various review sites as well as ranking top ofDXOMARK’s camera ratings when first released.
Starting at $1,200, this device is expensive, placing it in the same price bracket as the Samsung Galaxy S23 Ultra. This may cause issues in markets where consumers tend to favour more affordable devices.However, it has an opportunity to gain share in the more premium markets like the UK, France, Germany and the UAE, where high-end smartphones are relatively more popular.
TheMagic Vs, meanwhile, is HONOR’s second foldable smartphone, and it’s first to be launched outside China. HONOR is hoping to ride the wave of foldables growth started by Samsung’s Fold and Flip smartphones, and more recent offerings like the OPPO Find N2 Flip and the upcoming Google Pixel Fold.
Although the foldables market is still small, its growth is an industry bright spot. We expect global shipments of foldable smartphones to grow at an annual rate of just under 50% over the next five years, passing 90 million, or 6% of total smartphones, by 2027. Around three-quarters of this will be outside of China, and HONOR is banking on the Magic Vs to establish it as a key challenger to Samsung in the foldables space.
Future prospects
Developing a portfolio approach
As noted above, HONOR is using a three-pronged portfolio approach in the smartphone market with ranges that span the price bands.In key flagship segments, HONOR’s product performance is approaching that of the market leaders. And its flagship products act as heroes that help to build brand momentum that filters down to its mid- and low-end products.
HONOR is also gradually filling out its portfolio with an ecosystem of partner products including wearables, tablets, PCs and more, which will support efforts to build brand awareness.
So, what can we expect?
Counterpoint Research expectsHONOR will gradually grow its overseas market position, gaining share from rivals as it achieves increasing distribution across both operator and retail channels, its product portfolio expands and its brand gains awareness.
We do not expect explosive growth, rather a steady increase in strength from which HONOR can build. And we further expect this to occur in some key countries such as UK, France and Germany, Latin American countries including Mexico, Colombia, Peru , and select countries of Middle East and North Africa.
This forecast is the most likely outcome given HONOR’s current position and strategy, but it’s not pre-determined – HONOR can and likely will disrupt it through its own actions.
Feedback or a question for the analyst that wrote this note?
[one_third]
Jan Stryjak
Associate Director
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Background
Counterpoint Technology Market Research is a global 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.
欧洲智能手机市场同比下降了23%o 38 million units in Q1 2023; the lowest quarterly total since Q2 2012.
Samsung maintained leadership despite a 27% YoY shipment decrease, thanks largely to a relatively successful launch of its latest flagship Galaxy S23 series
Second place Apple gained share slightly YoY, but this was more down to it declining less than most other vendors.
Xiaomi was the only major vendor to grow YoY, due to a recovery from a poor Q1 2022
London, Boston, Toronto, New Delhi, Beijing, Taipei, Seoul – May 10, 2023
The challengingeconomic climatecontinued to weigh heavily on the European smartphone market, with shipments declining by 23% year-on-year in Q1 2023, according to the latest research from Counterpoint Research’sMarket Monitor服务。通货膨胀,利率和能源prices remained stubbornly high, as did the conflict between Russia and Ukraine, prolonging the cautious approach consumers are taking with their discretionary spending. Thisprotracted shrinkingof the European market resulted in Q1 2023 being the region’s worst quarter for smartphone shipments since Q2 2012.
Europe smartphone shipments and YoY growth
Source: Counterpoint Research
Europe smartphone shipment market share
Source: Counterpoint Research Note: OPPO includes OnePlus
Counterpoint Research’sAssociate Director, Jan Stryjaksaid, “the cost-of-living crisis continued to pour misery onto European consumers, resulting in a tough start to 2023. There were, however, some pieces of good news: Samsung, despite losing share compared to Q1 2022, successfully launched its latest flagshipGalaxy 23series (outperforming both the S22 and S21), while Apple gained share YoY (although this was more to do with it declining less than some other vendors). The biggest winner, though, was Xiaomi, being the only major vendor to register shipment growth as it recovered from a very poor Q1 2022.”
Commenting on the outlook for 2023, Stryjak added “we predicted the difficult conditions would get worse before they got better, and this was borne-out by the worst quarter for smartphone shipments we’ve seen in Europe in over a decade. However, we remain optimistic that the economic pressures should start easing in the next few quarters, boosting consumer confidence and leading to a better end of the year.”
Feedback or a question for the analyst that wrote this note?
[one_third]
Jan Stryjak
Associate Director
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[two_third_last]
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Background
Counterpoint Technology Market Research is a global 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.
Volkswagen Group led in connected car sales, closely followed by Toyota Group.
4G cars captured more than 95% of connected car sales in 2022.
Tesla broke into the top-10 connected car sales rankings for the first time.
New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – April 24, 2023
2022年全球连接*汽车销售同比增长12%ith the share of connected cars in the overall car sales exceeding 50%, according to the latest research from Counterpoint’sSmart Automotive Service. TheUSremained the strongest market for connected cars followed by China andEurope. These three markets accounted for nearly 80% of the total connected car sales globally in 2022. Despite having a relatively small share of connected car sales, Japan experienced the highest growth in connected car penetration.
Commenting on the market dynamics,Research AnalystAbhilash Guptasaid, “The penetration of connectivity in cars improved during 2022 after struggling in 2020 and 2021. In 2022, new facelift versions of older models like the Honda Civic, Toyota Corolla, Ford Escape and Chevrolet Equinox were introduced with upgraded 4G connectivity and new features. Some prominent features include remote lock/unlock, remote engine start/stop, climate control, vehicle status, location tracking, geofencing, emergency assistance, in-cabin music, video streaming, and over-the-air updates. Next-generation vehicles are being introduced with various connected and autonomous features that require high-speed internet access available through 5G. However, as of now, 5G remains a niche, available only in premium cars like the Ford F-150 Lightning, Cadillac LYRIQ, Mercedes-Benz EQS, Audi e-tron GT, BMW iX and GWM Haval HG.”
Gupta added, “With consumers’ focus shifting to connectivity in the car, non-connected car shipments are steadily declining. The top five automotive groups accounted for nearly half of the connected cars sold in 2022. Volkswagen Group led the charts in terms of connected car sales volume, closely followed by Toyota Group. Tesla broke into the top 10 for the first time.”
Commenting on the market outlook,Senior AnalystSoumen Mandalsaid, “The shift towards digitization in cars is increasing at a rapid pace and is visible in the consistent rise of connected car penetration globally. Currently, 4G dominates the connected car market with almost95%share. But as the automotive market is transitioning towards electrification, software-defined vehicles and autonomy, the need for seamless and faster in-vehicle connectivity will be fulfilled through 5G. By2030, more than 90% of connected cars sold will have embedded 5G connectivity. Connected car sales are expected to grow at a CAGR of 13% between 2022 and 2030.”
*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands, and consider only passenger cars with embedded connectivity.
The comprehensive and in-depth ‘Global Connected Car Tracker,Q1 2019-Q4 2022’ and ‘Global Connected Car Forecast, 2019-2030F’ are 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
Counterpoint Technology Market Research is a global 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.
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,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –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,占全球总数的0.5% 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.”
来源:对位的全球客运电动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.
Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.
Background
Counterpoint Technology Market Research is a global 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.
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,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – March 6, 2023
欧洲的乘客电动汽车(EV)销售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.
Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.
Background
Counterpoint Technology Market Research is a global 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.
EV sales during 2022 were over 10.2 million units, a 65% YoY growth.
7 out of the top 10 EV models were from Chinese brands in Q4 2022.
EV sales are expected to reach nearly 17 million units by the end of 2023.
New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – March 6, 2023
Global passenger electric vehicle* (EV) sales in Q4 2022 rose by 53% YoY to bring the 2022 total to over 10.2 million units, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. During Q4 2022, battery EVs (BEV) accounted for almost 72% of all EV sales, while plug-in hybrid EVs (PHEVs) accounted for the rest. The top three EV markets were China, Germany and the US. The top 10 EV automotive groups, which hold more than 39 passenger car brands, contributed to almost 72% of all EV sales in Q4 2022.
Commenting on market dynamics,Research Analyst Abhik Mukherjee说,“电动汽车在第四季度销售额空前高涨2022. The annual total for 2022 would have reached close to 11 million units had fresh COVID-19 infections not surfaced in China.COVID-19 infections in Chinaduring November and December affected automotive production and sales and disrupted the component supply chain. Despite these headwinds, Chinese brands managed to record strong growth. In fact, in 2022, many Chinese brands started to expand in markets like Europe, Southeast Asia and Latin America. Chinese brands are likely to dominate inSoutheast Asiaand Latin America as there are very few brands operating in these regions. But a fight for market presence is expected in Europe.”
Thetop 10 EVmodels accounted for one-third of the total passenger EV sales in Q4 2022. Tesla’s Model Y remained the best-selling model globally followed by BYD’s Song. The Model Y also became the top-selling model in Europe for two consecutive months in Q4 2022. 7 out of the top 10 best-selling EV models in Q4 2022 were from BYD and Wuling. These two brands predominantly operate in China, highlighting the positive evolution of the country’s EV market.Discussing the market outlook,Senior Analyst Soumen Mandalsaid, “EVs are becoming mainstream faster than expected. By the end of 2023, EV sales are expected to reach nearly 17 million units. This year, the US’ EV sales will see aboostas models become slightly more affordable due to the $7,500 tax credit. The end of the purchase subsidy in China might push EV manufacturers to increase their prices. BYD has already implemented one price hike in January. But these price hikes are unlikely to affect EV sales in one of the most matured EV markets. Lithium prices are also expected to come down during the second half of 2023, which will benefit EV sales.”
*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.
Feel free to reach us at press@www.arena-ruc.com for questions regarding our latest research and insights.
Background
Counterpoint Technology Market Research is a global 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.
The Europe smartphone market declined by 24%YoY to 45 million units in Q4 2022; the lowest fourth quarter total since Q4 2011.
Annual shipments reached 176 million units in 2022, a 17% decline versus 2021 and the lowest annual total since 2012.
Samsung maintained leadership despite a 25% YoY shipment decrease, and despite a sequential drop in Q4 2022 versus Q3 2022
Apple regained second position from Xiaomi, even though the iPhone 14 was its weakest major European launch since the iPhone 5 in 2012
Xiaomi’s YoY decline was the lowest of the top OEMs as it largely recovered from a challenging 2021
OPPO and realme swapped places again as realme managed its inventory in Eastern Europe following a big boost in Q3 while OPPO regained ground lost earlier in the year
London, Boston, Toronto, New Delhi, Beijing, Taipei, Seoul – February 22, 2023
The European smartphone market continued to suffer from a dire economic climate and ongoing geopolitical uncertainty with shipments declining by 24% year-on-year in Q4 2022, according to the latest research fromCounterpoint Research’s Market Monitor服务。This made Q4 2022 Europe’s worst fourth quarter since Q4 2011, and 2022 the worst year since 2012. However, Apple’siPhone 14launch, despite being its weakest major launch in Europefor a decade, and wider seasonal promotional activity helped shipments to grow by 6% compared toQ3 2022.
Q4 2022 European Smartphone Shipments and Growth
Source: Counterpoint Research Market Monitor, Q4 2022 Note: OPPO includes OnePlus
Counterpoint Research’sAssociate Director, Jan Stryjaksaid, “there was no let up for European consumers in Q4 as the cost of living remained at record levels. Yes, the traditional Christmas boost meant quarterly shipments increased compared to Q3, but consumer demand remained muted. Apple’s usual strong end to the year was weaker than expected, allowing Samsung to maintain its leadership of the European market. There was relatively good news for some OEMs though. Xiaomi’s YoY decline of ‘only’ 6% indicated a recovery from its troubles in 2021, while OPPO regained ground as realme looked to manage inventory in Eastern Europe.”
Q4 2022 European Smartphone Shipments Share
Source: Counterpoint Research Market Monitor, Q4 2022 Note: OPPO includes OnePlus
Commenting on the outlook for 2023, Stryjak added “the challenging macro climate and ongoing geopolitical tensions will continue into 2023 and potentially get worse initially as the cost-of-living crisis deepens through Winter. Some countries are likely to fall into recession, so with weakened consumer demand and high inventory levels for some OEMs, the first half of 2023 will be tough. However, inflation has stabilised and wholesale energy prices have dropped, leading to hopes of interest rate and energy bill cuts later in the year. This should boost consumer confidence and spur demand, leading to a better second half of the year.”
Background
Counterpoint Technology Market Research is a global 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.
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