Global Passenger Electric Vehicle Market Share, Q4 2021 – Q3 2023
Published date: November 30, 2023
This page depicts our quarterly data for global electric vehicle sales market share from Q4 2021 to Q3 2023.
| Auto Group | Q4 2021 | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 |
| BYD Auto | 9% | 10% | 12% | 13% | 15% | 14% | 15% | 17% |
| Tesla | 19% | 21% | 16% | 17% | 17% | 22% | 20% | 17% |
| Volkswagen Group | 10% | 7% | 7% | 7% | 8% | 7% | 7% | 8% |
| Others | 62% | 62% | 65% | 63% | 60% | 57% | 58% | 58% |
Note: For EVs, we consider only BEVs. PHEVs has been excluded from the study
Source: Global Passenger Electric Vehicle Model Sales Tracker: Q1 2018 – Q3 2023
Global electric vehicle market highlights:
- Global BEV sales grew 29% YoY in Q3 2023.
- China ranked first, with 58% share of total sales, followed by the US and Germany.
- BYD Auto narrowed its gap with Tesla in BEV sales in Q3 2023.
- Tesla’s Model Y, BYD’s Yuan Plus and Tesla’s Model 3 were the best-selling BEV models during the quarter.
- Chinese brands sold over 0.13 million BEV units overseas.
- With the current growth trajectory, global BEV sales are expected to reach 10 million units by the end of 2023.
Top Electric Vehicle Brands highlights:
Tesla: Tesla’s sales grew 26% YoY in Q3 2023, falling short of expectations The company is revamping its production lines in China and the US for the Model 3 facelift version, which is a reason for the lower-than-expected Tesla sales in Q3. The Model Y retained its position as the ‘best-selling’ passenger car globally during the quarter.
BYD Auto: BYD Auto experienced a 66% YoY increase in sales during Q3 2023. The Yuan Plus, Dolphin and Seagull were its top three best-selling models, accounting for nearly 72% of BYD’s total BEV sales. BYD exported more than 65,000 BEVs during the period.
Volkswagen Group: In Q3 2023, Volkswagen Group’s EV sales increased 36% YoY. The ID.3, ID.4 and Audi Q4 e-tron were the best-selling EV models of the group, accounting for 51% of its quarterly EV sales. Compared to previous quarters, Volkswagen’s EV sales in China improved significantly in Q3.
*For EVs, we consider only BEVs. PHEVs, HEVs and fuel cell vehicles (FCVs) are not included in this study.
For a more detailed electric vehicle model sales tracker, click below:
Global Passenger Electric Vehicle Model Sales Tracker: Q1 2018 – Q3 2023
This report tracks the global passenger vehicle sales* by brand and by model across 23 regions (China, USA, Germany, UK, France, Spain, Japan, India, Italy, South Korea, Thailand, Indonesia, Vietnam, Brazil, Argentina, Russia, Malaysia, Philippines, Singapore, ROE, LATAM, MEA and Oceania) quarterly. The report will help to understand regional trends, brand dynamics and type of EV penetration. The period covered in this report is from Q1 2018 to Q3 2023.
*Sales here refers to wholesale figures, i.e., deliveries out of factories by respective brands/companies.
*Under electric vehicles, the report only considers battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Hybrid electric vehicles and fuel cell vehicles (FCVs) are not included.
Table of Contents:
• Definition
• Pivot Table
• Flatfile
Note: Numbers based on passenger vehicles only. For EVs, we consider only BEVs and PHEVs. Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study.
