From Jan to July in 2023, Non-China Global[1] Electric Vehicle Deliveries[2] Recorded 3.042 Mil Units, a 41.8% YoY Growth
- Tesla took top position and Hyundai-KIA ranked 4th in the non-China EV market
From
Jan to July in 2023, the total number of electric vehicles registered in
countries around the world except China was approximately 3.042 million units,
posting a 41.8% YoY growth.
(Source: Global EV & Battery Monthly Tracker – August 2023, SNE Research)
From
Jan to July 2023, if we look at the number of electric vehicles sold by OEM
groups in the non-China market, Tesla maintained the top position with a 64.1%
YoY growth. The growth of Tesla was led by the price-reduction strategy implemented
from earlier this year and the tax credit offered to Model 3 and Y by the US government
as part of the US Inflation Reduction Act (IRA). As it is reported that Tesla planned
to make its Model 3 facelift, internally known as Project Highland, from the Gigafactory
in Shanghai from this September, it is expected that the facelift model would
be delivered to customers from October. The Volkswagen group, where Volkswagen,
Audi, and Skoda belong to, posted a 40.1% YoY growth, taking the 2nd
place on the list. The growth of VW Group was driven by steady sales of Audi
E-Tron line-up including ID.4, a first, non-American EV model qualified for the
EV tax credit offered by the US government. The 3rd place was occupied
by the Stellantis Group supported by solid sales of both BEV and PHEV such as
Fiat 500e and Jeep Wrangler 4xe.
(Source: Global EV & Battery Monthly Tracker – August 2023, SNE Research)
Hyundai-KIA
Motor Group posted an 8.0% YoY growth led by IONIQ 5 and EV 6 to which E-GMP platform
is installed. The Group, which broke the profit record in the 1st
half of this year, is expected to gradually expand its global market share as
the global sales of IONIQ 6, the All-new Kona Electric, and EV9 hit their
stride. The SAIC Group, a strong player in the Chinese domestic market, safely
entered the top 10 on the list with a triple-digit growth, based on favorable
sales of MG-4, MG-5, ZS, and HS models in Europe and Asia (excl. China).
(Source: Global EV & Battery Monthly Tracker – August 2023, SNE Research)
Chinese
EV makers such as BYD and MG, who have already secured their shares in the
Chinese domestic market, started trying in earnest to enter the global market
based on their vehicle safety and quality that were proved in China as well as
their price competitiveness since the growth in the Chinese domestic market gradually
slowed down. However, with the French government regulations added to the US
IRA and EU’s CRMA, a red light has turned on for the Chinese companies’ attempt
to expand their shares in the North American and European regions. In this
regard, there seems to be a sign for more intensified competitions between the
Korean companies and the Chinese companies in order to take a bigger pie on the
global stage.
[2] Based on electric vehicles (BEV+PHEV) delivered to customers or registered during the relevant period.