The two largest OEMs by volume - Tesla and BYD - are increasing their market share, leaving less and less room for others.
More than 5.8 million plug-in electric cars were sold during the first half of 2023, accounting for about 15 percent of total car sales globally. Today, we will look at the largest manufacturers (automotive groups) of rechargeable cars.
According to EV-Volumes data, shared by Jose Pontes, five OEMs are responsible for more than half of plug-in car sales.
As usual, we will first examine the volume and share of the top OEMs in the overall plug-in market first, then in the battery-electric segment.
Plug-in (BEV + PHEV)
In the plug-in category, which combines battery electric cars (BEV) and plug-in hybrid cars (PHEV), the top five were the same as in Q1. However, while some OEMs are expanding, others are struggling to maintain their market share.
BYD remains the largest group with over 1,248,168 units registered in H1 and a share of 21.4 percent. The Chinese manufacturer increased its market share by several percentage points from 15.4 percent last year.
Tesla is another example of a thriving OEM. The company recorded 888,879 units in H1 and a 15.2 percent share in the plug-in segment (despite only selling BEVs), which is an improvement compared to last year's 13.6 percent share.
Third largest was Volkswagen Group, however, with 425,761 units in H1, its share was 7.3 percent (down from 8.0 percent last year).
Geely-Volvo, fourth after the first half of the year, recorded 359,543 units and a share of 6.2 percent (up from 5.6 percent last year).
Together with SAIC, the big five are responsible for nearly 56 percent of all plug-in electric cars sold globally in the first half of 2023.
Plug-in car registrations in Q1-Q2 2023 (vs. previous year):
BYD Group: 1,248,168 and 21.4% shares (vs. 15.4%)
Tesla: 888,879 and 15.2% share (vs. 13.6%)
Volkswagen Group: 425,761 and 7.3% shares (vs. 8.0%)
Geely-Volvo: 359,543 and 6.2% share (vs. 5.6%)
SAIC (including SAIC-GM-Wuling): 322,921 and 5.5% shares (vs. 8.6%)
Top 5 total: 3,245,272 and 55.6% share
Others: 2,586,592 and 44.4% shares
Total: 5,831,864
Battery-Electric Vehicles (BEV)
In terms of all-electric car registrations, BEV-focused Tesla is the top manufacturer (no changes here). The company recorded 888,879 registrations, accounting for 21.7 percent of the BEV segment (versus 19 percent last year).
BYD, the second best, recorded 615,064 units and a 15 percent share in the BEV segment (four percent more than last year). That's a big leap.
Both Tesla and BYD are well ahead of other OEMs and are also expanding their BEV businesses faster than other OEMs (overall).
We cover the race between Tesla, BYD and Volkswagen Group in detail here.
Third-best OEM Volkswagen Group recorded 311,359 units and a 7.6 percent share in the BEV segment (compared to 7.3 percent last year). On the other hand, SAIC's share fell from 10.8 percent last year to 7.5 percent in H1 2023.
The top five OEMs account for nearly 58 percent of all BEVs sold in the first half of 2023.
All-electric car registrations in Q1-Q2 2023 (vs. previous year):
Tesla: 888,879 and 21.7% share (vs. 19%)
BYD Group: 615,064 and 15% share (vs. 11%)
Volkswagen Group: 311,359 and 7.6% share (vs. 7.3%)
SAIC (including SAIC-GM-Wuling): 308,899 and 7.5% shares (vs. 10.8%)
Geely-Volvo: 236,847 and 5.8% share.
Top 5 total: 2,361,048 and 57.6% share.
Others: 1,738,952 and 42.4% shares
Total: 4,100,000
