• 04.09.2024

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Global Pure Electric Car Sales Surge 29% in Q3 2023: BYD Closing in on Tesla

Dec 19, 2023

IT Home reported on December 19th that, according to the latest report from market research firm Counterpoint Research, global sales of pure electric passenger cars in the third quarter of 2023 increased by 29% year-on-year. The report stated that China remains the world’s largest market for pure electric vehicles, but due to factors such as weak economic prospects and intense price competition, China’s sales of pure electric vehicles in the third quarter only increased by 11%, lower than the global average. Nevertheless, Chinese pure electric vehicle brands successfully sold over 130,000 pure electric vehicles abroad, a fourfold increase compared to the third quarter of 2022. Tesla, BYD Auto, and Volkswagen are the best-selling groups of pure electric vehicles. BYD Auto has caught up with Tesla, with a 68% year-on-year increase, and both currently have a market share of 17%. BYD has increased by 4 percentage points compared to the same period last year and is expected to surpass Tesla in the fourth quarter, becoming the global leader.

Global Pure Electric Car Sales Surge 29% in Q3 2023: BYD Closing in on Tesla

The top five car models are dominated by Tesla and BYD, with the Model Y being the best-selling electric car globally and the Model 3 ranking third. BYD holds three spots, with the Yuan Plus being the top seller, ranking second. The Dolphin from BYD ranks fourth, and the Seagull ranks fifth.

Global Pure Electric Car Sales Surge 29% in Q3 2023: BYD Closing in on Tesla

Senior analyst Soumen Mandal said: Research director Jeff Fieldhack said: IT Home provides the original report address for interested users to read in depth. Related reading: “Global new energy vehicle sales in Q3 2023 increased by 28.1%: BYD narrowed the gap with Tesla in the pure electric field to a thousand vehicles.” Advertising statement: The external jump links contained in the text are used to convey more information, save selection time, and the results are for reference only. All articles on IT Home contain this statement.