sales - Counterpoint - 华体会体育娱乐平台

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,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.

TheUSsurpassedGermanyto become the world’s second-largest EV market in Q1 2023 whileChinaremained theleader．在中国,电动汽车销售经历了惊人的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,梅塞德斯–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.

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.

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

对比研究

press@www.arena-ruc.com

相关的帖子

Tesla Reports Record Revenue, Deliveries in Q4 2022

Tesla’s total revenue stood at $24.3 billion in Q4 2022 with 37% YoY growth.
Tesla deployed 2.46 GWh of energy storage during Q4, a growth of almost 152% YoY.
Tesla’s vehicle deliveries are expected to exceed 1.7 million units globally in 2023.

Riding on record 405,278 vehicle deliveries in Q4 2022, Tesla registered a record total revenue of $24.3 billion during the quarter, an increase of 37% YoY. Deliveries rose 31.3% YoY in Q4, bringing the 2022 annual total to1.3 million units．TheUS was the leading marketin Q4, followed by China and Europe. The annual deliveries of Tesla’s premium Model X and Model S grew 167% YoY to reach 66,000 units.

Tesla’s sales inChina再次低于预期由于COVID -19 outbreak. Production at the Shanghai factory, which exported more than 106,000 units in Q4, was halted during the last week of December. Although no specific reason was stated officially, rising COVID-19 cases among workers were a likely cause for the unexpected production halt. On the other hand, the weekly Model Y production in the Berlin factory touched 3,000 units. The rising production in Germany has helped Tesla gain a strong grip onEurope’s EV market．The Model Y remained Europe’s top-selling car model during November and December. Tesla’s in-house 4680 cell production rate also reached 1,000 cars per week.

Financial summary

Tesla’stotal revenueduring Q4 2022 stood at $24.3 billion, an increase of 37% YoY. The company generated more than $20 billion from automotive sales. During Q4, the widespread release ofTesla’s full self-driving(FSD) feature generated $0.32 billion in revenue, indicating that the company is striving to increase the proportion of software revenue in its overall product mix.
Revenue from Tesla’sother businesseslike energy storage, solar panel deployment, charging and vehicle servicing grew by almost 72% YoY to exceed $3 billion. Other businesses contributed 12% of Tesla’s Q4 revenue.
Tesla deployed 2.46 GWh ofenergy storageduring Q4. At 151.7%, it saw the highest YoY growth till now.
Tesla’s total revenue for 2022 exceeded $81.4 billion, a 51% YoY growth.
During Q4,gross profitalso increased by 19% YoY and stood at $5.7 billion. In October, Tesla reducedvehicle prices in Chinaafter increasing them a couple of times during H1 2022. Initially, it was thought the increase in demand would make up for the price cut but the negative foreign exchange impact restricted further gross profit growth.
Tesla’sinventoryin Q4 stood at 34,423 units, bringing the annual total to 55,760 units. The COVID-19 outbreak in China and the increased production in the Berlin factory are probable causes of the higher inventory. In addition, Tesla is facing stiff competition as legacy automakers and new players are offering more affordable EVs. In January 2023, Tesla lowered prices globally, which may help in clearing out inventories and achieving economies of scale.

Outlook

Tesla’s strong fundamentals are expected to keep the company ahead of most other electric vehicle brands globally. Tesla announced price cuts in January 2023, which has resulted in the demand ballooning to twice the production. Besides, pilot production of the Tesla Semi began in 2022 and the vehicle is expected to hit the road soon. The company also plans to start production of theCybertruckin mid-2023. Furthermore, Tesla recently announced an investment of $3.6 billion to set up a 100GW capacity cell factory and a high-volume semi factory. Tesla’s 2023 vehicle deliveries are projected to exceed 1.7 million units, with a 31% YoY growth. This seems attainable if the company’s recent price cuts remain in effect for most of the year.

China Smartphone Sales in 2022 Reach Lowest Level in a Decade; Apple Becomes #2 Brand for First Time

China’s smartphone sales declined 14% YoY in 2022 to record their fifth consecutive year of decline.
Apple’s sales outperformed the country’s market in 2022, falling by only 3% YoY.
Major Android OEMs such as OPPO (-27% YoY), vivo (-23% YoY) and Xiaomi (-19% YoY) saw big YoY declines.
China’s Q4 2022 smartphone sales declined 15% YoY. All quarters in 2022 saw double-digit YoY sales declines.
Looking ahead, we expect a market turnaround once COVID-19 herd immunity is achieved, which we expect sometime in Q2 2023.

Boston, Denver, Seoul, Taipei, Beijing, London, Toronto, New Delhi, Hong Kong – January 27, 2023

China’s smartphone sales declined 14% YoY in 2022 to reach their lowest level in a decade, according to Counterpoint Research’sMarket Pulse Service．2022 was also the fifth consecutive year of YoY sales declines in China. Macroeconomic headwinds and the impact of COVID-19 led to the sales plunge.

In Q4 2022, China’s smartphone sales declined 15% YoY. Therefore, sales declined YoY in double digits in every quarter of 2022. The sudden relaxing of the COVID-19 policy in December resulted in a surge in cases and led the market to decline 5% QoQ to record its lowest quarterly sales in the year, instead of posting a typical seasonal increase.

Since the spring of 2022, many cities in China, both large and small, were being subjected to COVID-19 restrictions, which negatively impacted consumer sentiment and further delayed smartphone replacements.

In 2022, vivo retained the first spot with a 19.2% market share, followed by Apple at 18.0% and OPPO at 17.5%.

Appledeclined 3% YoY in 2022 but was able to outperform the market to become the #2 brand in China for the first time for a full year. It also reached its highest-ever quarterly share, capturing 23.7% of the sales in Q4 2022. This was despite the shortages faced by the iPhone 14 Pro versions as well as the comparatively lower popularity of the iPhone 14 series’ non-Pro versions due to limited upgrades compared to the iPhone 13.

HONORwas the only brand in 2022 to have positive YoY growth at 38% YoY. However, this growth was mainly due to a lower base in 2021, when the brand had started its resurgence in the Chinese market. HONOR made its comeback with the HONOR 50 in 2021. Now the brand has stabilized with more product lines covering all price segments.

vivo, OPPO and Xiaomi saw YoY declines of 23%, 27% and 19% respectively in 2022 as demand dropped amid economic uncertainty.

Chinese OEMs continue to believe that thepremium segmentis the key and launched premium smartphone models during the year. They also introduced more foldable devices. Competition in thefoldablesegment is likely to intensify in 2023 and Chinese OEMs will look to expand their foldable offerings in the overseas markets.

In Q4 2022, Apple captured 23.7% of the market, maintaining its leading position. But it registered a double-digit YoY decline like major Android OEMs. Huawei recovered from its low base in 2021, increasing by 15% YoY in Q4. However, the brand is still unable to ship 5G-enabled devices, which is a major concern for its sales outlook.

All the major OEMs offered stronger promotions during theSingles’ Dayonline sales festival. They also used the sales promotion season to shed excess inventory. Smartphone sales surged MoM, but the rise didn’t sustain into December when COVID-19 started spreading fast.

The sudden change in China’s COVID-19 policy caught the market off guard, but the reopening process is also ahead of the expected schedule. Looking ahead, China’s smartphone sales may show a positive YoY growth in Q2 2023, when the country should have restored normal social activities.

However, consumer sentiment will take longer than the economy to recover, particularly when it comes to income prospects. Therefore, we do not expect any explosive growth in smartphone sales this year. But a marginal recovery can still be expected.

Background

Analyst Contacts

Archie Zhang

Mengmeng张

Alicia Gong

Tesla Leads US EV Market, Eclipsing Next 15 Brands Combined

EV sales in the US grew by 52% YoY during Q3 2022.
Top 10 EV models constituted almost 70% of EV sales.
US EV sales are expected to exceed 10 million units annuallyby 2030.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul –January 4, 2023

The US electric vehicle* (EV) sales** grew by almost 52% YoY during Q3 2022 despite macroeconomic headwinds, according toCounterpoint Global Passenger Vehicle Model Sales Tracker．Battery EVs (BEVs) constituted over 80% of the total US EV sales. BEV sales grew by more than 78% YoY during Q3. Tesla’s Q3 sales eclipsed the next 15 brands combined.

Commenting on market dynamics,Associate DirectorHanish Bhatiasaid, “Overall US passenger vehicle sales will likely suffer due to macroeconomic pressures until at least mid-2023. Higher interest rates are hitting both loan and leasing routes to ownership. However, the affordability of EVs will be revitalized once EV policies and credit subsidies take effect.”

Source: Counterpoint Global Passenger Vehicle Model Sales Tracker, Q3 2022

Market summary

Teslasales in the US grew by more than 56% YoY during the quarter. Although Tesla has had some headwinds in meeting orders and delivering vehicles, it has remained the undisputed market leader for at least the previous 19 quarters. The Model Y and Model 3 are its most sold models.

Fordsold over 18,000 EV units during Q3, registering almost 132% YoY growth. With the introduction of the electric version of the best-selling F-150, the company has been able to mark its position in the US EV market.

Chevroletcatapulted its EV sales growth rate by 225% YoY to over 14,000 units. The Bolt and Bolt EUV are the only two Chevrolet EV models being offered currently. The Bolt EUV sales volume almost quadrupled from the previous year. The brand is on track to introduce three new EV models – Silverado EV, Equinox EV and Blazer EV.

Thetop 10 best-selling EV modelsconstituted almost 70% of the country’s EV sales in Q3. Tesla’s Model Y has been the best-selling EV model since the third quarter of 2020.

Commenting on the market outlook,Research DirectorJeff Fieldhacksaid, “Tax credits are expected to boost EV demand. Moreover, a price reduction is expected as more battery manufacturing firms are being set up across the North American continent. Batteries constitute 40% to 45% of the cost of EVs. The availability of multiple battery suppliers and a decrease in logistics costs for batteries will positively impact the US EV market. EV sales in the US are expected to exceed 10 million units annually by 2030 at a CAGR of 37%, according to Counterpoint’sGlobal Passenger Vehicle Forecast．”

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

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

The comprehensive and in-depth ‘Global Passenger Electric Vehicle Sales Tracker, Q1 2018-Q3 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

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.

Analyst Contacts

Hanish Bhatia

Jeff Fieldhack

Soumen Mandal

Moumen Badawi

对比研究

press@www.arena-ruc.com

相关的帖子:

COVID-19 Weighs on European Smartphone Market in Q1 2020

The viral outbreak followed by lockdowns caused the Europe smartphone market to contract by 7% YoY and 23% QoQ
Apple remained resilient while Huawei declined sharply for the quarter – though this was more than COVID-related

New Delhi, Mumbai, Hong Kong, Taipei, Seoul, San Diego, London, Buenos Aires – June 3rd, 2020

Smartphone sales declined 7% year-on-year (YoY) and 23% quarter-on-quarter (QoQ) in Europe during Q1 2020 amidCOVID-19outbreak, according to Counterpoint’s Market Pulse service. The impact of the pandemic was relatively stronger for Western Europe, down 9% YoY, than for Eastern Europe, down 5% YoY.

Commenting on the overall market,Peter Richardson, VP of Researchsaid, “Q1 is seasonally weak, but the coronavirus outbreak amplified this. The smartphone market decline was primarily due to COVID-19 outbreak across the region in the second half of the quarter. The biggest five markets in Europe entered lockdowns of varying severity at different points in March. Consequently, most of the offline stores were closed, though online remained open throughout. Also, the economic impact of the pandemic has led to lengthening replacement cycles as consumers withhold making discretionary purchases.”

Europe Smartphone Sales Market Share (%), Q1 2019 vs Q1 2020

在COVID-19爆发,意大利是最糟糕的房颤fected of all European countries, driving the smartphone market to a 21% YoY decline. In other markets, some operators such as Vodafone, and retailers such as Dixons Carphone were able to adjust to the sharply higher online demand and somewhat offset the decline. Others however, like Mediamarkt/Saturn in Germany, had underinvested in digital channels and lost sales due to store closures.

Coronavirus did not officially make its presence felt in Russia until late March/early April and hence the market remained relatively resilient in Q1 2020, declining just 1%.

Counterpoint Europe Smartphone Market Q1 2020

Commenting on the top OEMs in the European market,Abhilash Kumar, Research Analystsaid, “Samsung continues to lead the chart for Q1 2020. This is driven by Samsung’s diversified portfolio across all price bands. Also, marketing campaigns around the Galaxy S20 launch boosted its overall sales. Unlike Chinese OEMs, Samsung had no supply issues and was not impacted by China lockdown worries.Appleremained flat for the quarter and showed its resilience during the COVID-19 crisis. The iPhone 11 series continues to perform well, despite a lack of supply in some markets and some channels. However, the expensive models slowed considerably in March. Huawei declined a sharp 43% YoY for the quarter as the US trade sanctions continue to bite. Xiaomi has been the biggest beneficiary from Huawei’s decline as it grew 145% YoY capturing 11% share in the quarter.”

Key market summary:

Huawei’s co-brand Honor led the Russian smartphone market in Q1 2020.
Chinese OEMs like Xiaomi and OPPO benefited fromHuawei’s continuing struggles and hence grew more than 150% YoY for the quarter driven by strong performances in Russia, UK, France.
5Gsmartphone sales accounted for 4% of the overall market sales in Europe in Q1 2020.
Apple iPhone 11 was the best-selling model in Europe in Q1 2020.

Analyst Contacts:

Peter Richardson

Abhilash Kumar

Follow Counterpoint Research
press@www.arena-ruc.com

Top

Insights Tag:sales

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

Tesla Reports Record Revenue, Deliveries in Q4 2022

Financial summary

Outlook

相关的帖子:

China Smartphone Sales in 2022 Reach Lowest Level in a Decade; Apple Becomes #2 Brand for First Time

COVID-19 Weighs on European Smartphone Market in Q1 2020

Coverage

Insights

Social media

Contact us

Top

Financial summary

Outlook

相关的帖子:

Market summary

Coverage

Insights

Social media

Contact us

Term of Use and Privacy Policy