Every second BEV sold in the US in Q2 2023 was a Tesla.
BEV sales by foreign brands more than doubled YoY to 81,000 units.
Annual BEV sales are expected to exceed 1 million units by the end of 2023.
New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – September 4, 2023
US passenger battery electric vehicle* (BEV) sales grew 57% YoY in Q2 2023, according to the latest research from Counterpoint’sUS Passenger Electric Vehicle Model Sales Tracker. The US maintained its status as the second-largest BEV market, a position it achieved by surpassing Germany in the previous quarter. BEVs constituted more than 7% of total passenger vehicle sales in the US in Q2. During H1 2023,Tesla’s tally exceeded the combined BEV sales of the next 14 automotive groups by 122,000 vehicles.
Commenting on the market dynamics,Research Analyst Abhik Mukherjeesaid, “Building on the existing momentum, the US automotive industry maintained its upward trajectory in Q2 2023. Total passenger vehicle sales surged by over 16% YoY. BEV sales are on the rise, driven by theEV tax creditand increasing environmental awareness among consumers. US-based brands likeTesla, GM, Ford, Rivian, LucidandKarmacaptured nearly three-quarters of total BEV sales. Among foreign-origin brands operating in the US, European manufacturers claimed the largest market share, followed by South Korean and Japanese brands. Total BEV sales by brands of foreign origin, such asHyundai Kia, Volkswagen Group, Mercedes-Benz, BMW, Volvo, Toyota, Subaru, JaguarandLand Rover,jumped by more than 100% YoY to nearly 81,000 units.”
The top five best-selling BEV models in the US accounted for more than 60% of the market’s overall BEV sales during the quarter. Tesla’sModel YandModel 3together accounted for 55% of the BEV market. TheRivian R1Temerged as the third best-selling model during Q2 2023. This is the first time a Rivian model has secured a position in the top five since the introduction of its first vehicle in late 2021.
Commenting on the market outlook,Research Director Jeff Fieldhacksaid, “If the current growth trajectory continues, annualBEVsales in the US will exceed1 million unitsby the end of 2023. However, rising inventories are expected to become a problem for automakers. EV-related investments by auto OEMs are rapidly growing across the North American continent. These investments, which cover EV production ramps, components and battery, and charging infrastructure, have already crossed$100 billion. Most EV brands are preparing to launch new models or update existing models from 2024 onwards. To address the inventory challenges, OEMs will either need to reduce prices or limit production, both of which will hurt their financial performance.”
*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brand/company.
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 accounted for over 75% of BEV sales in the SEA region during Q1 2023.
Three out of every four BEVs sold were from a Chinese automaker.
The top three groups accounted for 68% of BEV sales.
BYD’s Atto 3 was the best-selling BEV.
New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –July 20, 2023
Southeast Asia’s#(SEA’s) passenger battery electric vehicle (BEV) sales* grew by almost 10 times YoY in Q1 2023, according to the latest research from Counterpoint’sSEA Passenger Electric Vehicle Model Sales Tracker. The share of BEVs in total passenger vehicle sales experienced significant growth in Q1 2023, reaching 3.8% compared to a mere 0.3% one year ago.Thailandemerged as the leading country, capturing over 75% of the BEV sales, followed byIndonesiaandVietnam.Thailandalso boasted the highest proportion of BEVs in total passenger vehicle sales, followed by Singapore and Vietnam. However, plug-in hybrid electric vehicle (PHEV) sales saw a modest YoY growth of 5.8%.
Commenting on the market dynamics,Research Analyst Abhilash Guptasaid, “Thailand’s government-led efforts to promote EV sales have yielded positive outcomes, while Indonesia and Vietnam are also performing well in the region. However, Malaysia, Philippines and Myanmar require additional regulatory support and encouragement to foster EV growth. Despite overall passenger vehicle sales remaining relatively stagnant, the sales of BEVs have experienced a significant andrapid expansion. Besides, the market for hybrid electric vehicles (HEVs) has experienced remarkable growth in SEA, playing a pivotal role in the transition from traditional internal combustion engine (ICE) vehicles to EVs.”
Gupta added, “Chineseauto groups are experiencing rapid growth and outpacing their competitors in the SEA region, with their market share increasing from 38% a year ago to nearly 75%. In Q1 2023,BYD Groupemerged as the BEV leader in the SEA region, capturing the majority of sales, followed byHozon New Energy, andSAIC Group. These top three groups collectively accounted for over 68% of the BEV market. In the PHEV market,Geely Holding Groupclaimed the top position, followed byBMW Group, andMercedes-Benz Group.”
BYD’s Atto 3 was the best-selling BEV across SEA, followed by the Neta V and Tesla Model Y. In PHEVs, Volvo’s XC60 sold the most, followed by the BMW 3 series and Mercedes-Benz E-Class.
Commenting on the market outlook,Senior Analyst Soumen Mandal说,“我除了提供补贴和税收ncentives, Thailand’s government has set ambitious goals to position itself as a global hub for EV production. The country’s EV sector has witnessed a significant rise in foreign direct investment (FDI) in the past year. Notably, several Chinese automakers, including Great Wall Motors, BYD, Hozon New Energy and Changan Automobile, have shown interest in establishing or have already commenced the construction of production facilities inThailand. Similarly,Indonesiaannounced a subsidy package in March 2023 to promote the purchase and manufacturing of EVs, with a special focus on increasing local production. This move is expected to further accelerate the production and sales of EVs in the region.”
Mandal added, “The Chinese presence in the SEA EV market is poised to strengthen as they establish regional manufacturing bases, thereby driving further growth in the EV sector. The overall sales of EVs are experiencing an upward trajectory in the SEA region. The outlook appears promising, and there is an expectation that the share of BEVs in total vehicle sales will reach6%by the end of this year.”
*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.
#SEA here 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.
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
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, 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 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 conditions挪威和取消电动汽车补贴。德国, 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.
Mercedes is running a beta program where those that opt in will be able to accessChatGPTfrom their vehicle by interacting with thevoice assistantalready present in MBUX-equipped vehicles. But rather than the cloud-based service that Mercedes is going with today, it should be looking at implementing ChatGPT directly in the vehicle.
Mercedes owners in theUScan enroll for the program by accepting an update for their car.
The test is due to run for three months and is being supported by Microsoft’s Azure OpenAI Service, which is an API to which clients can connect their services to havegenerative AIfunctionality.
Mercedes is able to implement this service very easily because all it is really doing is providing a prompt for the vehicle assistant to fill in, send it to the cloud and then read out the results.
This means that all of the inference or processing of the request will be done in the cloud with the voice assistant doing nothing more than acting as a front end to provide the voice functionality.
The vehicle is a use case where generative AI could have a disproportionately large impact. This is because a touch-based icon grid is a substandard user experience no matter who provides it.
The problem that the car makers have is that their icon grid is much worse than Apple, Gooxgle orTesla.
Furthermore, in 2016 and 2017 we concluded that voice was the leading contender to improve the digital experience in the vehicle but that voice was not good enough to create an acceptable user experience.
This is why vehicles are still limping along with smartphones embedded in the dashboard.
We have also concluded that generative AI represents a significant step forward in the ability of machines to communicate with humans and provide a user interface for a digital service.
Consequently, generative AI offers a significant opportunity for vehicle makers to win back the digital initiative that they have ceded to the digital ecosystems.
This is extremely important as vehicle makers’ ability to monetize the market for in-vehicle digital service will be contingent on their ability to remain relevant in the digital vehicle experience.
This is why Apple andGoogleare coming aggressively after the vehicle and so far, the OEMs have mounted feeble resistance or offered complete capitulation.
The problem with this approach is that the only way to implement generative AI effectively in the vehicle is to put it directly in the vehicle.
This is because reliability and speed are critical, and in this example when the network goes, the service goes with it.
Furthermore, it is unlikely that there will be any real integration with the vehicle, meaning that telling ChatGPT that one is feeling hot is likely to result in silence rather than the air-conditioner being turned up.
Using ChatGPT as the benchmark implementation in the vehicle will have a profound impact on the cost of the vehicle’s electronics as well as its power consumption which in anEVis a deal breaker.
There are rapid developments going on in the open-source community that may make this a lot easier to achieve, but implementing large language models outside of the data center remains a work in progress.
Despite the current limitations, the potential for generative AI to help OEMs to overcome their digital shortcomings is substantial and represents one of the best opportunities the OEMs have had for a long time.
The risk is that if no one uses it as a result of the way the Mercedes experiment is implemented, it will lead to the (wrong) conclusion that putting it in the vehicle is a waste of time.
This would lead to the squandering of another opportunity, resulting in digital irrelevance and greater commoditization.
We remain pretty pessimistic about the outlook for the OEMs.
(This is a version of a blog that first appeared on Radio Free Mobile. All views expressed are Richard’s own.)
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,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – 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.
TheUSsurpassed德国to 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.特斯拉大幅降价for 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.
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.
Google has been making news in the automotive industry this year. First, with the announcement of HD Maps to support assisted driving and then with a partnership with Mercedes Benz to develop Mercedes-branded navigation.
Google’s deal with Mercedes is interesting. Google will be licensing services including YouTube and map data to Mercedes but without the automotive OS, and it will not control the data.
Apple sees the growth potential in the auto industry and likely wants a piece of the pie. This is hinted by Apple’s move to introduce next-generation CarPlay, which will deeply integrate with the vehicle to take over interior screens and instrument cluster.
Since the beginning of 2023,Googlehas been making news in the automotive industry. First, with the announcement of HD Maps to support assisted driving and then with a partnership with Mercedes Benz to develop Mercedes-branded navigation. The nature of this partnership is unfamiliar to Google; the company usually wants to be in control of the data. So, the question is why Google chose to form this uncommon partnership. To answer this, we have to look at Google’s automotive journey.
Google’s entry into automotive industry
Google is ubiquitous insmartphonesthanks to the strong Android user base. The company wanted to bring the same Google services experience to the car through in-vehicle infotainment (IVI). Android Auto bridged the gap between smartphones and cars and allowed its customers to use Google-based apps for navigation, entertainment and communication, as well as Google Assistant. Over time, Android Auto started gaining popularity as users liked being able to have a similar experience across their phones and vehicles, and additionally use free services like Google Maps. According to Counterpoint Research estimates, around 90% of car models sold in the US in 2022 support Android Auto.
Source: Counterpoint Analysis
This is a strong performance, but it was not an easy road for Google/Android Auto to get accepted by auto OEMs as data privacy concerns always loom around Google. Companies like Hyundai, Kia,Volkswagen,GM and Honda were early adopters of Android Auto, while others, including BMW, Toyota, Lexus, Jaguar Land Rover and Infiniti, didn’t introduce Android Auto compatibility until 2018-2020 after getting repeated requests from owners. In the US, the Android installed base is slightly close to 50%, whereas in Europe it is over 70% and close to 80% for the global market. Therefore, it is not surprising that most drivers from these brands own phones running on Android.
Source: Counterpoint Analysis
Google’s ambitious plan to capture automotive market
Google set its sights beyond IVI to take on the challenge of autonomous vehicles (AV) and software-defined vehicles (SDV) with the 2016 formation of Waymo, which started as a self-driving research project, and the announcement of Android Automotive OS, an expansion of its Android Auto initiative. Android Automotive OS (AAOS) is an open-source OS, somewhat replicating Google’s smartphone OS strategy. Running directly on in-vehicle hardware (i.e. head unit), it is a highly modular and full-stack open platform and supports apps built for Android as well as those built for Android Auto.
One standout feature is that AAOS has a suite of applications and services called Google Automotive Services (GAS), which is often marketed as Google Built-in by automakers. The GAS suite offers options to carmakers to integrate different services from Google, like Maps, Play Store and Assistant, directly into the vehicle without the need for an Android smartphone. Automakers can obtain GAS through a licensing fee on top of Android Automotive.
Currently, there are around 20 models available with Android Auto. The latest addition to the list is the 2023 Honda Accord. Several other automakers have announced plans to move to AAOS, but not every automaker is interested in GAS. We list below some major automakers and their plans to use Android Auto and Google services.
Volvo and Polestar: Volvo brand Polestar, with its Polestar 2, was the first automaker to adopt Android Automotive with GAS integration. Volvo’s first all-electric XC40 Recharge was also the first car to run on Android Automotive. In 2022, Volvo announced from 2023 onwards would be equipped with Google infotainment.
Renault-Nissan-Mitsubishi:In 2018, the alliance announced a partnership with Google to run its infotainment systems on Android Automotive. Renault’s Megane E-Tech was the first car to run on Android OS with GAS. In 2022, the Renault Austral was launched based on Android Automotive. Nissan and Mitsubishi have not announced any plans to launch models based on Google.
General Motors:In 2019, GM announced that its in-vehicle infotainment system would be powered by Android Automotive and feature Google apps and services for vehicles starting 2021. The GMC Hummer EV became the first GM car to be run on Android Automotive with GAS integration. Later, in 2022, mainstream models like the Chevrolet Tahoe, Chevrolet Suburban, Chevrolet Silverado, GMC Sierra and GMC Yukon were launched with Google Built-in.
Stellantis:合并前的PSA和葬礼,PSA集团nnounced that Android Automotive would be powering its in-car infotainment system starting from 2023 models. In a different approach, FCA launched the Uconnect 5 based on Android Automotive but without GAS. But after the merger of both brands into Stellantis, the whole group is integrating AAOS for the IVI system.
Ford:Joining its US rival GM, Ford announced a partnership with Google in 2021 to run its SYNC infotainment system, which currently runs on Blackberry QNX OS. Ford plans to integrate GAS into its vehicles from late 2023 onwards.
Honda:日本公司是早期adopte之一rs of Android Automotive OS for the in-car infotainment system with its Honda Connect, based on NVIDIA’s Tegra processor. In 2021, Honda announced the integration of GAS into its vehicles from H2 2022. The 2023 Accord is the first Honda car with Google Built-in services.
BMW:The German brand took a different approach, announcing in 2022 that its new BMW OS 9 would be built on Android Automotive OS. But due to data privacy concerns, it is reluctant to integrate GAS. BMW is also an investor in navigation services providerHERETechnologies.
Lucid:The American company adopted Android Automotive OS for infotainment but did not integrate GAS.
Porsche:The Volkswagen brand was one of the few carmakers that only offered Apple CarPlay but not Android Auto for many years. Porsche released its first car with Android Auto only in 2022. The VW group is facing a lot of criticism due to software issues that are delaying the launch of electric models from its brands Porsche, Audi and Bentley. Hence, Porsche is looking at a strategy shift by taking into account Android Automotive OS and integrating GAS, which will include Google Maps, Google Assistant and Google Play Store, into its IVI.
Google’s road ahead
Google’s deal with Mercedes is interesting. Google will be licensing services including YouTube and map data to Mercedes but without the automotive OS, and it will not control the data. This shift in Google’s approach shows that it is willing to change its strategy to build trust with automakers, especially the Germans who are known to be apprehensive about data privacy.
With the major trends of electrification andADAS/Autonomous Driving(AD), and some of theEVmodels already equipped with Google Maps, Google has been adding EV-related features such as EV routing and searching for charging stations in in-vehicle Google Maps. Besides, Google has announced HD Map support for Level-2 hands-free driving and Level-3 driving systems. HD Map will roll out first in the Volvo EX90 and Polestar 3.
Google Maps is challenging the territory of established players like HERE andTomTom.我们预计谷歌将进一步发展其in-vehicle navigation to make EV use easier and support higher levels of automated driving.
最后,将softw下一代汽车are-defined vehicles. This will allow companies to generate various recurring software revenue streams. As a result, the car software market will grow. Apple sees this growth potential in the auto industry and likely wants a piece of the pie. This is hinted by Apple’s move to introduce next-generation CarPlay, which will deeply integrate with the vehicle to take over interior screens and instrument cluster, and allow users to control climate and radio. So far, 14 automakers have confirmed to integrate new CarPlay, which is set to launch in late 2023. Therefore, in the future, we may see Apple developing complete software that runs on the vehicle without a partner iPhone, similar to Android Automotive. There are reports that indicate Apple is working on its ‘Apple Car’ as several patents related to cars have been filed by the company. This will allow Apple to replicate its strategy of using its software and services to monetize its hardware.
Therefore, in the era of software-defined vehicles, we may see the next round of battle between tech giants Google and Apple, this time for supremacy in the automotive OS, which will be the heart and soul of the car.
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
Global connected car sales* grew 12% YoY in 2022 with 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.
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
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 Mukherjee说,“电动汽车销售在欧洲在缓慢增加er 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.
Southeast Asia’s electric vehicle sales grew 35% YoY in Q3 2022.
The top five brands accounted for almost 67% of the region’s passenger EV sales.
The sales are expected to cross 3.5 million units by 2030 at a CAGR of 124%.
New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –December 21, 2022
Passenger electric vehicle (EV*) sales** in Southeast Asia (SEA)#grew 35% YoY in Q3 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. Thailand registered the highest EV sales volume in the region, capturing almost 60% share, followed by Indonesia and Singapore. Battery EVs (BEVs) constituted 61% of the sales and plug-in hybrid EVs (PHEVs) the rest. The top five brands accounted for almost 67% of the EV sales in SEA.Wulingemerged as the best-selling EV brand followed by Volvo and BMW.
Commenting on the market dynamics,Research Analyst AbhilashGuptasaid, “Although thepassenger EV salesin SEA are small compared to other regions, the demand is gradually increasing. Currently, EV sales are just a tad over 2% of total passenger vehicle sales in the region. Many OEMs are setting up or are planning to set up manufacturing plants across the region due to favorable policies, subsidies and incentives by major SEA countries like Thailand, Indonesia, Singapore and Malaysia.”
Market summary
Thailand’s EV market has grown tremendously this year, making it SEA’s undisputed EV leader. The country grabbed almost 60% of EV sales in SEA in Q3 2022. It aims to achieve 100% domestic sales from BEVs by 2035. Subsidies, excise duty waivers and import tax reductions have put Thailand on the right path in its EV journey.
Indonesiatook 25% share in the SEA passenger EV market sales for Q3 2022. Also, during Q3, the country registered its highest EV sales volume till now. The Wuling Air EV model launched during this quarter became an instant hit here and was the best-selling EV model. Recently, many companies have announced plans for setting up EV battery production units in Indonesia, which is in line with the country’s target to build 140 GWh of battery capacity by 2030. Indonesia is a major player in vehicle production in SEA.
Singapore,another growing EV market, captured almost 12% share of the SEA EV sales. It has a target to achieve 100% zero-emission vehicle sales by 2030 and has introduced various incentives, policies and schemes to increase EV adoption. Alongside, it is also trying to develop a well-connected network of 60,000 charging points by the end of this decade.
Malaysiaonly had a 3% share in the SEA EV market in Q3 2022. Nonetheless, the Malaysian government is supporting the adoption of EVs and has exempted EVs from road, import, excise and sales taxes. Further push to develop charging infrastructure will boost EV sales.
Vietnamannounced zero registration fee for EVs in March 2022. Vinfast, the major EV brand, recently discontinued its ICE models to focus on EVs. The future looks promising for the EV market to flourish in Vietnam.
Commenting on the market outlook,Senior Analyst Soumen Mandalsaid, “The SEA region’s automotive sector is mainly occupied by Japanese OEMs. However, with the shift in focus to EVs, they are facing stiff competition from theChinese, South Korean and few local players. Affordability remains a major bottleneck for the region’s EV growth. But the scenario is changing with the availability of some cheaper EV options by Wuling, BYD, GWM and SAIC. Unlike developed EV markets such as the US andEurope, low-priced EV options are gaining popularity in emerging markets like Thailand and Indonesia. According to Counterpoint’sGlobal Passenger Vehicle Forecast, the SEA EV market is expected to grow at a fast pace and by the end of this decade EV sales are expected to cross the 3.5-million mark at a CAGR of 124%.”
*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 here 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.
Europe’s EV market grew 17% YoY in Q3 2022 despite an 8% overall passenger car sales decline.
德国continued to lead the European EV market by taking a 33% share of the sales.
The top 10 EV models accounted for 27% of EV sales in Q3 2022.
New Delhi,London, Beijing,San Diego, Buenos Aires, Hong Kong, Seoul – December 20, 2022
Europe’s passenger electric vehicle (EV) sales* increased 17% YoY in Q3 2022, according to the latest research from Counterpoint’sGlobal Passenger Electric Vehicle Model Sales Tracker. Battery electric vehicles (BEVs) accounted for 61% of total EV sales during the quarter. Germany was the region’s largest market with a third of the total volume, followed by the UK and France.
Commenting on the market dynamics,Vice President of Research Peter Richardsonsaid, “The overallEuropean automotive markethas declined for three quarters due to a mix of economic pressures andsupply chain disruption. However, major European automotive-producing countries like Germany, UK, Italy and Spain have shown some growth in sales this quarter with EVs being a relative bright spot.”
Source: Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018-Q3 2022
Market summary
Mercedes-Benzcontinued to lead Europe’s EV market with a 9.2% share in Q3 2022. BEVs accounted for 35% of its total EV sales with 75% YoY growth. Its plug-in hybrid EV (PHEV) models include the GLE-Class, GLC-Class and C-Class, while its top-selling BEV models are the EQB, EQA and EQC. Although Mercedes leads Europe’s EV sales, it has failed to find a place in the top 10 best-selling models list. Mercedes has 20 models to offer, the highest among all automakers, and most of them have a similar sales share of less than 1%.
Volkswagentook a sales hit in Q2, losing 44% of EV sales YoY. But its supply chain recovered in Q3, enough for it to surpass BMW to become the second largest EV brand with a market share of 8.9%. Its BEV model range is led by the ID series, which includes the ID.3, ID.4 and ID.5 models. It also significantly improved shipments of its PHEV models.
BMWslipped to the third position, taking 8.6% volume share. Its BEV range contributed to 45% of its EV sales. Its top-selling BEV model was the i3 followed by the i4 and iX. The X5 was its best-selling PHEV model, followed by the 3 series and X3.
Among other top-selling brands,Teslasignificantly improved its sales from the previous quarter and broke into the top five brands list again. In September, the Model Y was the best-selling EV model in Europe, accounting for 70% of Tesla’s sales.
The top 10 EV models in Europe contributed to around 27% of the EV market in Q3 2022. Best-selling EVs in Q3 were the Tesla Model Y, Volkswagen ID.4 and Ford Kuga.
Source: Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018-Q3 2022
Commenting on the market outlook,Associate Director Mohit Agrawal说,“我们预计欧洲电动汽车市场依然存在just under 2.5 million unit sales in 2022. European governments are investing heavily in charging infrastructure, which is helping ease consumer anxiety about adopting EVs. This shift is evident in Counterpoint’sGlobal Passenger Vehicle Model Sales Tracker. Currently, luxury car brands like Mercedes and BMW are leading EV sales because of the combination of EV and PHEV offerings. But once the affordable mainstream European brands like Renault, Volkswagen and Peugeot strengthen their EV portfolios, we expect overall EV sales volumes to move sharply higher.”
*Sales here refer to wholesale figures, i.e. deliveries out of factories by 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, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, UK and Ukraine.
*Under electric vehicles (EVs), we are considering only battery EVs (BEVs) and plug-in hybrid EVs (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 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.
In order to access Counterpoint Technology Market Research Limited (Company or We hereafter) Web sites, you may be asked to complete a registration form. You are required to provide contact information which is used to enhance the user experience and determine whether you are a paid subscriber or not. Personal Information When you register on we ask you for personal information. We use this information to provide you with the best advice and highest-quality service as well as with offers that we think are relevant to you. We may also contact you regarding a Web site problem or other customer service-related issues. We do not sell, share or rent personal information about you collected on Company Web sites.
How to unsubscribe and Termination
You may request to terminate your account or unsubscribe to any email subscriptions or mailing lists at any time. In accessing and using this Website, User agrees to comply with all applicable laws and agrees not to take any action that would compromise the security or viability of this Website. The Company may terminate User’s access to this Website at any time for any reason. The terms hereunder regarding Accuracy of Information and Third Party Rights shall survive termination.
Website Content and Copyright
This Website is the property of Counterpoint and is protected by international copyright law and conventions. We grant users the right to access and use the Website, so long as such use is for internal information purposes, and User does not alter, copy, disseminate, redistribute or republish any content or feature of this Website. User acknowledges that access to and use of this Website is subject to these TERMS OF USE and any expanded access or use must be approved in writing by the Company. – Passwords are for user’s individual use – Passwords may not be shared with others – Users may not store documents in shared folders. – Users may not redistribute documents to non-users unless otherwise stated in their contract terms.
Changes or Updates to the Website
The Company reserves the right to change, update or discontinue any aspect of this Website at any time without notice. Your continued use of the Website after any such change constitutes your agreement to these TERMS OF USE, as modified. Accuracy of Information: While the information contained on this Website has been obtained from sources believed to be reliable, We disclaims all warranties as to the accuracy, completeness or adequacy of such information. User assumes sole responsibility for the use it makes of this Website to achieve his/her intended results.
第三方链接:这个网站可能包含链接to other third party websites, which are provided as additional resources for the convenience of Users. We do not endorse, sponsor or accept any responsibility for these third party websites, User agrees to direct any concerns relating to these third party websites to the relevant website administrator.
Cookies and Tracking
We may monitor how you use our Web sites. It is used solely for purposes of enabling us to provide you with a personalized Web site experience. This data may also be used in the aggregate, to identify appropriate product offerings and subscription plans. Cookies may be set in order to identify you and determine your access privileges. Cookies are simply identifiers. You have the ability to delete cookie files from your hard disk drive.
Commenting on the market outlook,Research Director Jeff Fieldhacksaid, “If the current growth trajectory continues, annualBEVsales in the US will exceed1 million unitsby the end of 2023. However, rising inventories are expected to become a problem for automakers. EV-related investments by auto OEMs are rapidly growing across the North American continent. These investments, which cover EV production ramps, components and battery, and charging infrastructure, have already crossed$100 billion. Most EV brands are preparing to launch new models or update existing models from 2024 onwards. To address the inventory challenges, OEMs will either need to reduce prices or limit production, both of which will hurt their financial performance.”
