Tesla Remains the Global Leader in Battery Electric Vehicle Market in 2023

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Cindy Mutia Annur 27/03/2024 19:10 WIB

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According to a Trend Force report cited by Visual Capitalist, Tesla still dominated the battery electric vehicle (BEV) market in 2023 with a 19.9% market share.

Top 10 Global Battery Electric Vehicle (BEV) Market Share Brands (2023)

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Tesla Remains the Global Leader in Battery Electric Vehicle Market in 2023

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Top 10 Global Battery Electric Vehicle (BEV) Market Share Brands (2023)

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According to a TrendForce report cited by Visual Capitalist, Tesla dominated the battery electric vehicle (BEV) market in 2023, holding a 19.9% market share.

Chinese electric vehicle manufacturers occupied the second to fourth positions.

BYD held second place with a 17.1% global BEV market share, followed by GAC Aion with 5.2% and SAIC-GM-Wuling with 4.9%.

Other manufacturers from Germany, China, and South Korea filled the remaining spots in the top 10 list of global battery electric vehicle market share last year, as shown in the chart above.

TrendForce predicts that BYD, China's largest electric car manufacturer, will surpass Tesla in BEV sales this year. This is due to BYD's stable performance in China and its expanding international presence, supported by the activation of overseas bases in 2023.

"TrendForce believes BYD has the potential to challenge Tesla's dominance in the BEV market this year," TrendForce stated on its website on Tuesday, February 20, 2024.

Visual Capitalist reports that the top 10 BEV companies in 2023 controlled 65% of the overall global market.

Here are the top 10 brands with the largest global electric vehicle market share in 2023, by country of origin:

1. Tesla (United States): 19.9%
2. BYD (China): 17.1%
3. GAC Aion (China): 5.2%
4. SAIC-GM-Wuling (China): 4.9%
5. Volkswagen (Germany): 4.6%
6. BMW (Germany): 3.6%
7. Hyundai (South Korea): 2.9%
8. Mercedes-Benz (Germany): 2.6%
9. MG (China): 2.3%
10. KIA (South Korea): 2%

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Tesla Remains the Global Leader in Battery Electric Vehicle Market in 2023

Tesla Remains the Global Leader in Battery Electric Vehicle Market in 2023

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