From Jan to Apr in 2023, Global[1] Electric Vehicle Deliveries[2] Recorded 3.723 Mil Units, a 40.1% YoY Growth
- BYD keeping No.1 position in the global EV sales ranking
From
Jan to Apr in 2023, the total number of electric vehicles registered in
countries around the world was approximately 3.723 million units, a 40.1% YoY
growth.
(Source: Global
EV and Battery Monthly Tracker – May 2023, SNE Research)
If we look at the EV sales from Jan to Apr in 2023, BYD, whose net profit increased 425% compared to the same period of last year, has successfully kept the No. 1 position in the ranking of EV sale with a 98.3% YoY growth and continued its explosive growth momentum. Tesla also recorded a high 54.4% YoY growth in its EV sale and managed to stay on the 2nd place, but, in terms of sales volume by model, Tesla captured both 1st and 2nd places thanks to a favorable sale of Model Y and 3. SAIC, on the 3rd position, saw a 29.3% growth led by the popularity of Hongguang MINI EV and its new model, Wuling Bingo.
(Source: Global EV and Battery Monthly
Tracker – May 2023, SNE Research)
Although
Hyundai-KIA Group achieved the biggest operating profit in history as for Q1, its
EV sale recorded only a 0.3% YoY growth due to seasonal factors often found in
the 1st quarter of a year to be adverse to the sale of green cars such
as changes in the EV subsidy policy. In the coming 2nd quarter,
regarded as a favorable season for EV sale, the group is expected to continue
to break its record in profit with the launch of KONA(SX2) Electric and EV9 and
the global sales expansion of IONIQ 6, recapturing its position in the
eco-friendly vehicle market.
(Source: Global EV and Battery Monthly
Tracker – May 2023, SNE Research)
While
the EV sale in China still accounts for more than half of the global EV sale,
many countries around the world have been trying to implement policies to
foster their own domestic businesses, e.g., the Inflation Reduction Act (IRA)
and Critical Raw Materials Act (CRMA). It is expected that, in the EV market, local
businesses in each region – BYD in China, VW Group in Europe, and Tesla in North
America – would continue to keep their strong positions.
[2] Based on electric vehicles (BEV+PHEV) delivered to customers or registered during the relevant period