Top selling models Archives - Counterpoint - 华体会体育娱乐平台

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

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

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

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

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

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

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

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

Background

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

Follow Counterpoint Research

press@www.arena-ruc.com

RelatedPosts

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’s全球销售Trac客运电动汽车模型ker．One in every seven cars sold during Q1 2023 was an EV. Battery EVs (BEVs) accounted for 73% of all EV sales during the quarter, while plug-in hybrid EVs (PHEVs) made up the rest.

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

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

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

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

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

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

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

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

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

Background

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

相关的帖子

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

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

London, New Delhi,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’s全球销售Trac客运电动汽车模型ker．Battery EVs (BEVs) continued to increase their share, growing by 36% YoY to account for almost 63% of all EV sales, while plug-in hybrid EVs (PHEVs) accounted for the rest. Germany was the largest EV market in Europe with almost 39% of total sales, followed by the United Kingdom and France. Germany also remained Europe’s fastest-growing EV market in Q4 2022 with 75% YoY growth, while Norway and Sweden’s overall passenger vehicle sales had the highest EV share in the continent. In terms of brands, Tesla managed to overtakeMercedes Benzto grab the top spot in Europe.

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

Market summary

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

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

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

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

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

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

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

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

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

Background

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

RelatedPosts

Global Electric Vehicle Sales Crossed 10 Million in 2022; Q4 Sales up 53% YoY

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’s全球销售Trac客运电动汽车模型ker．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 Mukherjeesaid, “EV sales were at an all-time high during Q4 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.

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

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

Background

Analyst Contacts

Abhik Mukherjee

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

相关的帖子:

Mercedes Fends off VW in Europe EV Market

Europe’s EV market grew 17% YoY in Q3 2022 despite an 8% overall passenger car sales decline.
德国继续领先欧洲电动汽车市场by taking a 33% share of the sales.
十大电动汽车模型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’s全球销售Trac客运电动汽车模型ker．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-Benz继续领先欧洲电动汽车市场的9.2%hare 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,Tesla从以前的显著提高销售额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.

十大电动汽车模型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．目前,奔驰等豪华汽车品牌和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.

The comprehensive and in-depth ‘全球销售Trac客运电动汽车模型ker: 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 technology, media and telecom (TMT) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Soumen Mandal

Mohit Aggarwal

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

BYD Widens Gap with Tesla in Q3 2022, Leads Global EV Market

Three of the top five best-selling EV brands in Q3 2022 were from China.
十大电动汽车模型accounted for more than 35% of global EV sales.
EVs constituted over 15% of the world’s passenger vehicle sales in Q3 2022.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – December 1, 2022

Global passenger electric vehicle* (EV) sales grew 71% YoY in Q3 2022, according to the latest research from Counterpoint’s全球销售Trac客运电动汽车模型ker．In total EV sales, battery EVs (BEVs) accounted for almost 74% and plug-in hybrid EVs (PHEVs) the rest. China remained the market leader in EV sales, followed by Europe and the US. China’s EV sales increased by over 100% YoY to exceed 1.7 million units from just 0.88 million units in Q3 2021. BYD Auto continued to lead the global EV market during the quarter. The Chinese automaker also managed to widen its gap with the second-placed Tesla.

Commenting on the market dynamics,Senior Analyst Soumen Mandalsaid, “As semiconductor supplies ease, together with better availability of raw materials for batteries, global EV sales are increasing. Among nations, China is dominating the global EV market single-handedly. Three of the top five best-selling EV brands are from China. All three brands operate predominantly in China, highlighting theChinaEV market’s positive evolution.”

Market Summary

BYD Autoremained the global market leader, shipping more than 537,000 EV units, an increase of 197% YoY. Its top three models – BYD Song, BYD Qin and BYD Han – contributed to over 56% of the company’s sales during the quarter. BYD’s overseas operations have been picking up fast; it sold almost 17,000 EV units across various regions including Europe, Latin America, Southeast Asia, Middle East and Africa, and Oceania in Q3 2022.

Tesla’s global sales grew 43% YoY in Q3 2022 to over 343,000 units.The companysaw increased demand for its vehicles in Europe this quarter. The smoothing production ramp in its Berlin factory helped deliver a record number of Model Ys in Germany this quarter. However, deliveries fell short of expectations due to logistics bottlenecks.

Wulinggrew by 31% YoY to hold the third rank in the global EV market. The brand’s Hongguang Mini EV model has remained the undisputed market leader since its release in the second half of 2020. Mini-electric car sales in China are high as they cost less, are eligible for subsidies and serve the purpose.

Volkswagen’s EV sales increased by 28% YoY to recover from their Q2 dip. The ID.4, ID.3 and ID.6 series had the top-selling Volkswagen models during the quarter. The company showed impressive results in China with its EV sales growing 79% YoY and 35% QoQ. Although the brand’s sales in Europe and the US recovered sequentially, neither region registered YoY growth.

GAC Motoremerged as the fifth top-selling brand, overtaking BMW and Mercedes-Benz. During Q3 2022, GAC sold more than 85,000 units to record a YoY growth of 145%. GAC spearheaded its Aion series, with the Aion Y as the top-selling model. The company operates only in China.

Chinese EV brandsare making strong and steady progress. BMW has been pushed to sixth place by GAC Motor. Other brands like NIO, Xpeng, Lynk & Co and Geometry have started building a strong global presence, whereas traditional European automakers like Audi, Volvo, Peugeot and Renault are struggling to keep up with the competition. Among the top 25 EV brands in Q3 2022, 14 were from China.

十大电动汽车模型accounted for more than 35% of global EV sales in Q3 2022. Tesla’s Model Y remained the best-selling EV model. Six out of the top 10 best-selling EV models were from BYD Auto.

Commenting on the market outlook,Research Vice President Peter Richardsonsaid, “EVs represent a growing share of global passenger vehicle sales. Currently, EVs account for more than 15% of global passenger vehicle sales. EVs are becoming the preferred choice for first-time car buyers across developed regions. This is also encouraging new players to enter the market. In addition, different battery chemistries that require little or no lithium are also being developed, with the new technologies promising similar or better efficiency compared to existing ones.”
*Sales refer to wholesale figures, i.e. deliveries from factories by the respective brands/companies.

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

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

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

Related Reports:

European EV Market Grew 16% in Q2 2022 led by Mercedes

Mercedes-Benz overtook Volkswagen to become the top-selling EV brand in Europe.
Germany leads the European market with 28% market share.
十大电动汽车模型accounted for almost one-fourth of EV sales in Q2 2022.

New Delhi,London, Beijing,San Diego, Buenos Aires, Hong Kong, Seoul – October 10, 2022

Europe’s passenger electric vehicle (EV) sales* increased 16% YoY in Q2 2022, according to the latest research fromCounterpoint’s Global Passenger Electric Vehicle Model Sales Tracker．Battery electric vehicles (BEVs) accounted for 55% of total EV sales during the quarter. Germany, with a 28% share, remained the European EV market leader, followed by France with 16% and the UK with 14%. Among other European nations, Spain and the Netherlands were the fastest growing EV markets, nearly doubling their sales on a YoY basis. However, Norway had the highest EV sales penetration (85%) among European countries and alsoglobally．

Commenting on the market dynamics,Vice President of ResearchPeter Richardsonsaid, “Europe’s automotive market has been hit by a series of events. The supply chain disruption due to theRussia-Ukraine warhad a serious negative impact. The supply crunch of vehicle wiring harnesses and other important components, together with a lack of critical raw materials, forced automakers across Europe, especially in Germany and the UK, to cut vehicle production for several weeks. Moreover, to show solidarity with Ukraine, most automakers halted their businesses in Russia, further hurting sales performance during Q2. Additionally, rising inflation and currency devaluations have pushed raw material costs higher.”

Market Summary

The top five brands accounted for only 36% of the total EV sales across Europe in Q2 2022. Europe is one of the most competitive EV markets where OEMs must fight hard for relatively small market shares. This ensures that most OEMs have similar market shares with a difference of only a few points.

Mercedes-Benz
Leading the pack, Mercedes-Benz accounted for around 9.2% of the total EV sales across Europe during the quarter. Last year, the company announced it would stop the development of internal combustion engines and strengthen its focus on electrification instead. Although the company had the highest number of EV sales across Europe, BEV sales accounted for only 28% of its total EV sales. The company’s present portfolio is strong. Its plug-in hybrid electric vehicle (PHEV) models include the GLC-Class, GLE-Class and C-Class, while its top-selling BEV models are the EQA, EQB, and EQE.

BMW
BMW, an early adopter of electrification, was the second-best selling EV brand in Europe in Q2 2022. BMW had a 9.1% share of the EV market in Europe during the period. The PHEV segment accounted for 71% of the company’s total EV sales. The BMW X series and the BMW 3 series cars dominated the PHEV segment, while the company’s i-Series models, namely the iX, i4 and i3, were the flagbearers of its BEV segment.

Volkswagen
Among European OEMs, Volkswagen was hurt the most from the Russia-Ukraine war. Supply chain disruptions andcomponent shortagesreduced the company’s sales by 44% YoY during Q2 2022. Volkswagen, one of the largest auto OEMs, was able to secure just 6.2% of Europe EV sales during the quarter. The company is betting on its ID series cars to dominate the EV market. Presently, 64% of EVs sold by Volkswagen are from the ID series alone.

Among other brands,Tesla’s performance fell short of expectations even though its Berlin Gigafactory started production in March 2022. Tesla sales in Europe fell 51% YoY during Q2 2022 mainly due to production halts at itsChinaoperations in April and May, stemming from supply issues and restrictions related to the pandemic. A major proportion of Tesla cars sold in Europe is imported from China.

Source: Global Passenger Electric Vehicle Model Sales Tracker: Q1 2018 – Q2 2022

Commenting on the EV ecosystem development,Research Vice PresidentNeil Shahsaid, “Europe is one of the more mature EV markets. EV sales in Europe have gained traction, thus incentives and subsidies related to EV sales have reduced to almost nil in most European nations. Presently, Europe is looking to strengthen itscharging infrastructureand battery recycling ecosystem. A strong charging infrastructure network is likely to boost EV penetration. Among European nations, the Netherlands has the highest density of EV charging stations. Alongside governments, private players, such as Webasto, Free2Move, EVBox, Shell and BP, are teaming up with OEMs to set up a network of charging stations across Europe.”

Shahadded, “Apart from developing a strong network of charging stations, the rising demand for EVs is leading to the rise of battery recycling plants. Battery recycling plants are necessary to control e-waste and to recycle valuable metals that can be used in new batteries.”

Source: Global Passenger Electric Vehicle Model Sales Tracker: Q1 2018 – Q2 2022

十大电动汽车模型in Europe contributed to around 23% of the EV market in Q2 2022. Bestsellers were the Fiat 500, followed by the Tesla Model Y and Peugeot 208. In the year-ago quarter, none of these EVs were among the top five. The change in the market was due to multiple production shutdowns and delays in shipments faced by OEMs. In 2021, the top-selling EV models were the Renault ZOE, Volkswagen ID.4 and Skoda Enyaq iV. In Q2 2022, eight out of the top 10 EV models sold in Europe were BEVs.

Commenting on the market outlook,Associate DirectorMohit Agrawalsaid, “EV sales are expected to exceed 2.5 million units by the end of 2022, according to Counterpoint’sGlobal Passenger Vehicle Forecast．The market is expected to be slow due to component shortages, economic turmoil and geopolitical tensions. Still, one in every five cars sold in Europe will likely be an EV by the end of this year. In 2021, EV sales in Europe accounted for 15% of total passenger vehicle sales.”

*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands/companies.

*Under electric vehicles (EVs), we are considering only battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Hybrid electric vehicles and fuel cell vehicles (FCVs) are not included in this study.

The comprehensive and in-depth ‘Global Electric Passenger Vehicle Sales Tracker, Q1 2018-Q2 2022’ is now available for purchase atreport.www.arena-ruc.com．

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

Background

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

Related Reports:

Global EV Sales up 61% in Q2 2022; BYD Leads Market

Global passenger electric vehicle (EV) sales* reached 2.18 million units in Q2 2022.
BYD Auto overtook Tesla to become the top-selling EV brand globally.
十大电动汽车模型accounted for more than 30% of global EV sales in Q2 2022.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – August 29, 2022

Global passenger electric vehicle* (EV) sales grew 61% YoY to reach 2.18 million units in Q2 2022, according to the latest research from Counterpoint’s全球销售Trac客运电动汽车模型ker．In total EV sales, battery electric vehicles (BEVs) accounted for almost 72% and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV sales, followed by Europe and the US. China’s EV sales increased by almost 92% YoY in Q2 2022 to reach 1.24 million units from just 0.64 million units in Q2 2021.

Commenting on the market dynamics,Senior Analyst Soumen Mandalsaid, “As the globalsemiconductor shortage缓解了一点,汽车制造商能够迎合the increasing demand for EVs. Moreover, EV sales would have been higher if China had not experienced fresh COVID-19 outbreaks during March. Stringent lockdowns in and around major provinces halted the production ramp-up during April, which resulted in China’s passenger vehicle market recording its biggest drop since the COVID-19-hit March 2020. The situation improved only after lockdowns were lifted during the latter half of May. The second half of 2022 is expected to deliver better results, but economic downturns, energy crisis, supply chain bottlenecks and rising geopolitical tensions may hinder the growth of China’s automotive market, especially EVs.”

Market Summary

BYD Auto: For the first time, BYD Auto became the top-selling EV brand, dethroning Tesla. During Q2 2022, BYD Auto shipped more than 354,000 EV units, an increase of 266% YoY. The company officially stopped production and sales of internal combustion engine vehicles in March 2022 and has been focusing on the development of BEVs and PHEVs. More than 60% of BYD’s sales during the quarter came from its top three models – BYD Song, BYD Han and BYD Qin. The company is slowly penetrating the European market. It has already begun operations in Norway and is looking to start business in Germany, Sweden and the Netherlands.

Tesla:Tesla’s global sales during Q2 2022 grew 27% YoY to over 254,000 units, falling short of expectations. Although business in the US increased, its China business was affected by COIVD-19 shutdowns. Tesla sold just 98,000 cars in China during Q2 2022. Cumulative sales in China during April and May fell by 49% YoY. This was the lowest for the automaker since the COVID-19-hit 2020. But its sales during June improved by almost 115% YoY. Despite COVID-19 clouding Tesla’s Q2 sales, it remained the global leader in the BEV segment.

Wuling: The joint venture between SAIC, GM and Wuling has proved to be a success as the Wuling Hongguang Mini EV is the best-selling EV model in China. The model has been the undisputed market leader since its release in the second half of 2020. During Q2 2022, Wuling grew by 16% YoY to hold the third rank in the global EV market.

BMW: BMW’s EV sales during Q2 2022 increased by 18% YoY. The company has a more prominent presence in the PHEV segment. However, its BEV sales experienced a higher QoQ growth rate (18%) in Q2 2022 compared to its PHEV sales (2%). BMW’s aim to have 2 million BEV units on the road by the end of 2025 is motivating it to make significant developments in the EV category. The BMW X3 and i-series models are spearheading the company’s push in the BEV segment, while the 5-Series, 3-Series and X5 models are doing the same in the PHEV segment.

Volkswagen: Volkswagen’s EV sales declined 9% YoY in Q2 2022. Its shipments across Europe and the US declined by 44% YoY and 74% YoY, respectively. Bottlenecks in the supply of semiconductors and other automotive components due toRussia’s invasion of Ukraine, together with rising inflation, pushed EV sales down in these two markets. However, sales in China grew 115% YoY in Q2 2022. Apart from the supply chain crisis, the company’s internal issues and failure to develop new proprietary software for its vehicles are impacting the company’s EV shipment targets.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Discussing the reasons for the rise in EV sales,Research Vice President Neil Shahsaid, “Incentives play a crucial role in increasing EV adoption. For example, China’s strong incentive program for both automakers and consumers has helped the country become the global EV leader. China extended its consumer-side subsidies until 2023, even after deciding to end them in 2021. Moreover, China’s dual-credit policy for automakers has been a massive success and the government is planning to phase out consumer-side subsidies as its EV market reaches maturity. In contrast, lower subsidies inEuropeancountries have led to slow growth in EV sales. China’s EV market grew by over 90% YoY in Q2 2022, whereas Europe’s EV market increased by just 16% YoY. Rising EV sales in European nations have led to a discontinuation of many consumer-side subsidies on car purchases with the focus shifting to establishing improved charging infrastructure, including incentives for consumers to install charging points.”

Further commenting on EV subsidies, Shah said, “Recently, theUS带来了一个新的电动汽车政策包括吸引ive incentives for both automakers and consumers. Benefits upto $12,000 are available for automakers and consumers on the purchase of a new EV. As a result, we expect to see an increase in EV sales in the US. Apart from these big markets, smaller markets like India, Japan, Thailand, South Korea and Malaysia have started providing various benefits for EV buyers and automakers either directly as a rebate in prices or tax exemption.”

十大电动汽车模型accounted for more than 30% of global EV sales in Q2 2022. Tesla’s Model Y remained the best-selling EV model. Wuling’s Hongguang Mini EV moved up to the second place, pushing Tesla’s Model 3 to third place. The Hongguang Mini EV’s long streak of being the best-selling model in China was broken by the Model Y in June 2022. Six out of the top ten best-selling EV models during the quarter were from Chinese OEMs and are mostly only available in China.

Source: Counterpoint Research Global Passenger Electric Vehicle Model Sales Tracker, Q1 2018 – Q2 2022

Commenting on the market outlook,Research Vice President Peter Richardsonsaid, “The automotive industry isunlikely to fully recoverfrom the semiconductor shortages until 2023. We do not expect global passenger EV sales to exceed 10 million units in 2022 considering the COVID-19 outbreaks, production shutdowns due to the power crisis, component shortages and rising consumer price inflation.”

*Sales here refer to wholesale figures, i.e. deliveries out of factories by respective brands/companies.

The comprehensive and in-depth ‘Global Electric Passenger Vehicle Model Sales Tracker, Q1 2018 – Q2 2022’ is now available for purchase atreport.www.arena-ruc.com．

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

Background

Analyst Contacts

Soumen Mandal

Neil Shah

Peter Richardson

Counterpoint Research

press@www.arena-ruc.com

Related Reports:

Global EV Shipments Up 79% YoY in Q1 2022; Tesla Remains Leader

In Q1 2022, global electric passenger vehicle (EV) shipments exceeded 1.95 million units.
Passenger battery electric vehicle (BEV) shipments grew 90% YoY during the quarter.
EV shipments are expected to cross 10 million units by the end of 2022 and 58 million units by 2030.

New Delhi,London,San Diego, Buenos Aires, Hong Kong, Beijing, Seoul – July 8, 2022

After surviving theCOVID-19pandemic and semiconductor shortages, the global automotive sector continued to recover in early 2022. Passenger vehicle shipments, especially electric passenger vehicle* (EV) shipments, grew during the first quarter. According to the latest research from Counterpoint’sGlobal Electric Passenger Vehicle Model Shipments Tracker, EV shipments grew 79% YoY in Q1 2022 to reach 1.95 million units. Of these, battery electric vehicles (BEVs) accounted for 73% and plug-in hybrid electric vehicles (PHEVs) for the rest. China remained the market leader in EV shipments, followed by Europe and the US. China’s EV shipments increased 126% YoY in Q1 2022 to reach more than 1.14 million units from just 0.5 million units in Q1 2021.

Commenting on the market dynamics,Senior Research AnalystSoumen Mandalsaid, “The EV market is witnessing a boom. However, shipments would have been higher if the automotivesupply chainwas not affected by theUkraine crisisand fresh COVID-19 waves in China in March 2022. With EVs comprising just 12% of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. Fresh players are entering the market to benefit from the opportunity. To counter new entrants, existing players are using leading-edge technologies to have improved battery, superior IVI system and higher levels of ADAS in their EV models as major selling points.”

Tesla:Teslahas registered phenomenal growth over the course of a year. The company’s shipments grew 68% YoY in Q1 2022 and are expected to cross 1.3 million units by the end of 2022. After operations started at theShanghaiGigafactory in 2019, Tesla’s China shipments skyrocketed. With the Berlin Gigafactory becoming operational in March, Europe sales are likely to increase in Q2 2022. Tesla is currently the global EV market leader. In Q1 2022, it sold more vehicles than the next three OEMs combined in the BEV segment. Tesla will face competition from BYD,NIOand XPeng in China while Volkswagen is gearing up to compete on the global front. Despite this competition, Tesla is likely to remain the market leader in the BEV segment for the next few years.

BYD Auto: BYD emerged as China’s top EV seller during Q1 2022. Its EV shipments increased by a whopping 433% YoY to reach more than 0.28 million units. This was due to BYD increasing its production of BEVs and PHEVs while completely halting its internal combustion engine business. In Q1 2022, BYD’s BEV and PHEV shipments grew 271% YoY and 857% YoY, respectively.

Wuling: The joint venture between SAIC, GM and Wuling has proved a success as the Wuling Hongguang Mini EV is the most sold EV model in China. Compared to Q1 2021, Wuling grew by just 14% and currently holds the third rank in the global EV market. Wuling achieved high EV shipments by just operating across China and Indonesia. Expanding across the SEA countries will help its business to grow as competition in the region is not that high. An early entry will help Wuling to secure a significant market share.

BMW: Over the years,BMWhas developed its business more in the PHEV segment than in BEV. BMW’s 16% YoY growth is mostly due to its offering of several new and improved PHEV models. BMW’s BEV shipments are predominantly driven by the company’s i-series models, while BMW Series 3 and Series 5 models are driving its PHEV shipments.

Volkswagen: Volkswagen is working hard to compete with Tesla in Europe, but its efforts have been disrupted by the supply crisis caused by Russia’s invasion of Ukraine. With its ID models, Volkswagen wants to capture a significant share of the EV segment. During Q1, Volkswagen’s EV shipments increased by 25% YoY. China remains Volkswagen’s top EV market, followed by Europe and North America. Across all major regions, the company’s all-electric ID.4 model registered most shipments.

Source: Counterpoint Research Global Electric Passenger Vehicle Model Shipments Tracker, Q1 2022

Discussing the reasons for the rise in EV shipments,Mandalfurther added, “Technological development is the key reason behind the increase in EV shipments.Battery technologyhas undergone recent breakthroughs. These developments have made batteries capable of longer ranges and longer overall lives. Range anxiety, one of the barriers to EV adoption, has reduced. The development of composite charging network infrastructure, subsidies from governments on EV purchases and increasing fuel prices combined with increasing environmental awareness are other reasons.”

On battery technology,Research Vice PresidentNeil Shahsaid, “Different compositions of lithium-ion batteries and the development of LFP batteries have been a game changer in this field. Battery chemistries like NMC, NCA and LFP are used widely for their high energy density and safety. After an increase in the price of lithium due to the Ukraine crisis, OEMs are transitioning to LFP batteries which use very little lithium and are safer than NMC and NCA composition batteries. Alongside LFP, manufacturers are also working on revolutionary solid-state battery technology. Besides being safer, solid-state batteries have higher energy density and will be able to outperform other battery chemistries. In 2021, NIO showcased its new ET7 with a solid-state battery of 150kWh. But this was later replaced by a semi-solid-state battery for the vehicle’s launch in March 2022. Despite several clear advantages, the high cost of solid-state batteries will limit their potential for mass adoption in the near term.”

十大电动汽车模型accountedfor a third of2022年第一季度全球电动汽车销售。特斯拉的新的gigafactories coming up across the world, its Model Y and Model 3 currently hold the first two positions. Wuling’s budget model, the Hongguang MINI EV, has been the best-selling model in China for more than 15 months. Seven out of the top ten EV models are from Chinese OEMs. This shows the development of Chinese EV market over the past few years.

Source: Counterpoint Research Global Electric Passenger Vehicle Model Shipments Tracker, Q1 2022

Commenting on the market outlook,Research Vice PresidentPeter Richardsonsaid, “With many countries aiming to phase out gasoline-powered vehicles by 2040, car makers are facing a seismic change. Not only are they having to move to electric drivetrains, but cars are becoming smart, connected and increasingly able to drive themselves. This is the most tumultuous period since the auto industry was established more than a century ago. According to Counterpoint’sGlobal Passenger Car Forecast, EV shipments are expected to exceed 10 million units in 2022 and reach around58 million units in 2030．There will be a fight for existence as incumbent auto manufacturers use their scale and manufacturing expertise to fend off new entrants that have no legacy business to protect. The current economic headwinds are likely to favor deep-pocketed incumbents, but some new entrants will either survive on their own or be acquired by established players.”

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

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

Background

Analyst Contacts

Soumen Mandal

Peter Richardson

Neil Shah

Counterpoint Research

press(at)www.arena-ruc.com

Related Reports:

Top

Insights Tag:Top selling models

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

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

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

Market summary

Global Electric Vehicle Sales Crossed 10 Million in 2022; Q4 Sales up 53% YoY

Mercedes Fends off VW in Europe EV Market

Market summary

相关的帖子

European EV Market Grew 16% in Q2 2022 led by Mercedes

Market Summary

Global EV Sales up 61% in Q2 2022; BYD Leads Market

Market Summary

Global EV Shipments Up 79% YoY in Q1 2022; Tesla Remains Leader

Coverage

Insights

Social media

Contact us

Top

Market summary

Market summary

相关的帖子

Market Summary

Market Summary

Market Summary

Coverage

Insights

Social media

Contact us

Term of Use and Privacy Policy