Elon Musk's Starlink satellites got 'invisibility' upgrades. Learn how to trade stocks like a pro with just 3 email lessons! Tesla's Global Market Share Fell to Its Lowest Level in Over 2 Years Today, more than half of all electric cars on the road are in China. As a result, electric cars could account for 18% of total car sales across the full calendar year. The EV industry has long relied on China for EV batteries and the processing of certain minerals that go into the batteries such as lithium, cobalt, and nickel. Get these newsletters delivered to your inbox & more info about our products & services. Tesla leads all others, selling slightly over 936,000 units in 2021. KEY MARKET INSIGHTS Listen to Audio Version The global electric vehicle market size was USD 246.70 billion in 2020 and is projected to grow from USD 287.36 billion in 2021 to USD 1,318.22 billion by 2028, growing at a CAGR of 24.3% in the 2021-2028 forecast period. Tesla (TSLA) still dominates US electric car market with 68% market share China again leads the way with approximately 800,000 public charging stations. In terms of global market share, Tesla's market share is the highest. In China, where Tesla gets nearly a quarter of its revenue, the company slashed prices in October and again at the start of January. Sign up for free today. New alternatives to conventional lithium-ion are on the rise. Get market updates, educational videos, webinars, and stock analysis. The electric vehicles manufactured by Tesla accounted for 79 percent of the new electric vehicles registered in the United States in 2020 and 69,95 percent in 2021. Thank you for subscribing. The result? US electric vehicle sales by maker and EV model through Q3 2022 The EV share of global vehicle sales is set to increase from about 14% in 2022 and from just 4% as recently as 2020. EV supply chains are increasingly at the forefront of EV-related policy-making to build resilience through diversification. Furthermore, the Model Y remained the bestselling EV in the first quarter of 2022, with Tesla taking up a massive 75% of the EV market share. Data and statistic samples covering the smartphone, semi and wearables market crunched from our vast databases. Tesla led the worldwide electric vehicle market with a 14% share. Ownership data provided by Refinitiv and Estimates data provided by FactSet. Only 10% of the spending can be attributed to government support, the remainder was from consumers. US EV Market Share by 1H 2022. However, many of these incentives are coming to an end. Though Tesla remained the top-selling brand in the pure battery EV (BEV) segment. In 2022, around 220 electric heavy-duty vehicle models entered the market, bringing the total to over 800 models offered by well over 100 OEMs. However, last year electric SUVs resulted in the displacement of over 150000 barrels of oil consumption per day and avoided the associated tailpipe emissions that would have been generated through burning the fuel in combustion engines. Bank Failures Widen. With two new manufacturing plants - in Germany and in Texas - currently ramping up Tesla Model Y production, and strong demand above manufacturing capacity, Tesla has a big chance to capture an even larger part of the global automotive pie. Our seminars and workshops for companies and institutions are popular and available on demand. For a more detailed electric vehicle model sales tracker, click below: Note: Numbers based on passenger vehicles only. Competition Heats Up For Tesla In EV Market - Forbes But its lead has been slipping. They account for 60% of available BEV options in China and Europe and an even greater share in the UnitedStates, similar to the trend towards SUVs seen in internal combustion engine (ICE) car markets. It is therefore well possible that higher shares of sales are achievable for electric cars than those anticipated on the basis of current government policy and national targets. Tesla's global market share was 11% in April . Hybrid EVs and fuel cell vehicles (FCVs) are not included in this study. Global market share of electric cars more than doubled in 2021 as the The number of available electric car models reached 500 in 2022, more than double the options available in 2018. Exports stood at over 33,000 units in 2022. The Netherlands, South Korea, and France round out the top five. It also plans to start production on its other vehicles by 2023, including the, Man makes headlines after winning the lottery with ChatGPT, Helios: Here's how creating oxygen on the Moon forged a recipe foriron without CO2, The worst case Starlink scenario? Volkswagen followed Tesla closely in the global market with a market share of 11,28 percent, while the latters share was 13,84 percent. A 50% or higher increase. This gave the company a market share of nearly 14%. We currently expect to see 14million in sales by the end of 2023, representing a 35% year-on-year increase with new purchases accelerating in the second half of this year. In 2021, 28% of all cars sold in Europe were EVs. Europe and the US are the second- and third-largest markets. In the United States, the Inflation Reduction Act (IRA), combined with adoption of Californias Advanced Clean Cars II rule by a number of states, could deliver a 50% market share for electric cars in 2030, in line with the national target. The US tax incentives are intended to spur more EV sales and the building of domestic supply chains for EV parts, which could pose trouble for Teslas competitiveness. In 2022, ICE SUVs emitted over 1GtCO2, far greater than the 80Mt net emissions reductions from the electric vehicle fleet that year. The most important key figures provide you with a compact summary of the topic of "Tesla" and take you straight to the corresponding statistics. Which companies have the greatest market share in the EV space? Electric vehicle market in China - statistics & facts | Statista Its all about production volume. She lives in White River Junction, Vermont. Electric car markets are seeing exponential growth as sales exceeded 10million in 2022. According to the industry data (trailing twelve months), Tesla 's market share in the US/Canada (counted together) appears to be somewhere around 3.3% and is moving toward 3.5%. Three markets dominated global sales. Want to learn more about investing? Electric car sales surged by 55% in 2022 to hit over 10 million: IEA - CNBC Tesla's share of the global BEV market in the month of June rose to 26% from 19% the month before. The United States has just under 100,000. Tesla electric vehicles Source: Tesla US electric vehicle sales. He also believes EVs will completely replace internal combustion engines at some point. Fully electric cars made a splash, with 8,195 units recorded in March. 2:07 PM ET Teslas stock is up 33% since the start of 2023, which may suggest that price cuts are keeping investors satisfied. Tesla is a transportation and energy company. The IEA Global EV Outlook 2023 ist out: the electric cars share of the overall car market has risen from around 4% in 2020, 9% in 2021 to 14% in 2022 and is Electric car sales in the United States the third largest market increased 55% in 2022, reaching a sales share of 8%. Chinese-based BYD was third (9%); followed by GM (7.6%); Stellantis, an Amsterdam-based company (6%); Hyundai Motor (5%); and BMW Group (4.8%). As in previous quarterly financial reports, Tesla has shared a graphic that illustrates its market share in three main automotive markets to highlight progress. General Motorss more affordably priced Chevrolet Bolt also is in the mix. Plus500. In 2022, the share of electric cars manufactured in China and sold in the European market increased to 16%, up from about 11% in 2021. Investors are likely to attach less significance to these numbers, given the looming threat of the Ukrainian war hurting sales, the analyst said. Counterpoint research is a young and fast growing research firm covering analysis of the tech industry. For EVs, we consider only BEVs and PHEVs. It was only a matter of time before other manufacturers would start to catch up to Tesla; the question now is whether Tesla will be able to keep an edge over its competitors. While Tesla only barely missed its own 2020 sales target of 500,000 in what was a challenging year for the auto market at large, it outsold both the challengers two-to-one according to figures compiled by EV Sales' Jos Pontes. The global market share of electric cars more than doubled in 2021, marking a clear acceleration of electric vehicle adoption around the world - albeit some markets lag behind. It is expected that Teslas hold on the market will erode as more EV options hit and help grow the US market, but for now, the US EV market is still extremely dependent on Teslas production and deliveries. The rate of growth will depend on our equipment capacity, operational efficiency and the capacity and stability of the supply chain. Tesla shares also missed out on a two-day rally that lifted other electric-car stocks. Teslas market share continued to climb in 2020 with the launch of its second medium-priced vehicle, the Model Y; both are popular Tesla models. Close behind Tesla was the VW Group, with just over 11% of the market last year. Only 10 carmakers will survive global EV battle, says Tesla rival Xpeng New EV entries nibbling away at Tesla EV share | S&P Global Now in 2022, new data released by S&P Global Mobility today shows that Tesla still dominates with 65% of market share this year through the first nine months: Although U.S. electric vehicle registrations remain dominated by Tesla, the brand is showing the expected signs of shedding market share as more entrants arrive. In 2021, that number went down to 69.95%, but thats still impressive with EV delivery volumes significantly increasing throughout the year along with Teslas prices. In Europe, Tesla appears to already be closer to 1.8%, while in China it's 1.6% or so. This gave the company a market share of nearly 14%. Electric vehicles will cut oil demand by 5 million barrels a day as With the market growing, Tesla is still rapidly growing. The success of Tesla is proven once again as the company has three electric cars in the top 10 most selling electric vehicles in the United States, while no other manufacturer has even two different models on the list. This rapid growth means electric cars percentage share of the overall car market is expected to climb to 18% in 2023. Learn another language, A professor uses geometry to solve the toughest logistical problems, Right to repair: Colorado becomes first state in the US to pass the law, Two massive gravity batteries are nearing completion in the US and China, Our understanding of reverse osmosis has just been proven wrong, South Korea aims to deliver the world's first solid state-batteries for EVs, Stranger Earth: Six weird ways climate change is affecting our planet. *ad. Tesla loyalty and market share soar, but dominance of EV segment could There are promising signs for emerging electric vehicle (EV) markets, albeit from a small base. Tesla - statistics & facts | Statista Tesla is still the top-selling electric vehicle brand in the U.S., but its dominance is eroding as more affordable models proliferate. China was the frontrunner once again, accounting for around 60% of global electric car sales. Global auto sales are recovering from the trough seen in September 2021, and the industry has thrown up some winners and some laggards, according to an analyst at BofA Securities. Tesla's dominance of EVs is eroding as cheaper cars hit the market - CNBC In the projections, China retains its position as the largest market for electric cars with 40% of total sales by 2030 in the STEPS. In Q1 2022, the company sold over 310,000 electric cars, which is 68% more than a year ago. In the BEV segment, the BMW i4, BMW iX3 and BMW iX were the top-selling models. Charger with Tesla logo at a Supercharger rapid. In absolute numbers, HEVs were up 48.2% YoY, an above-average gain in this strong month for the automotive market. Get interesting investment ideas by Fred Lambert, ChargePoint Home WiFi Enabled Electric Vehicle (EV) Charger, Stay up to date with the latest content by, Electric Vehicle Price Guide best prices for dealers in the US, Tesla vehicles accounted for 79% of new electric vehicles registered in the United States, Tesla claims Model Y AWD is most efficient SUV ever, but its not even Teslas most efficient SUV, Weird Alibaba: You can buy your own electric school bus from China, NIO begins deliveries of its flagship coupe SUV set to compete with the Polestar 3, California bans new diesel trucks effective 2036, a world first, Subscribe to Electrek on YouTube for exclusive videos. Will EV prices reach parity with the cost of internal combustion vehicles? The decrease in the market share in 2021 might be explained by backlogs and the global chip shortage, but the company is ramping up its sales and has already increased its market share to 75 percent in the first quarter of the year. Michelle Lewis is a writer and editor on Electrek and an editor on DroneDJ, 9to5Mac, and 9to5Google. Executive summary. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Tesla's vehicle sales by quarter YTD Q4 2022, Tesla's operating margin by quarter 2019-2022, Electric vehicle sales globally by model 2022, Plug-in electric vehicle sales market share by producer 2021, Tesla's vehicle production by quarter YTD Q4 2022, Most valuable automotive brands worldwide by brand value 2022, Most valuable brands within the automotive sector worldwide as of 2022, by brand value (in billion U.S. dollars), Plug-in electric light vehicle sales worldwide 2015-2021, Estimated plug-in electric light vehicle sales worldwide from 2015 to 2021 (in million units), Number of Tesla vehicles produced worldwide from 1st quarter 2016 to 4th quarter 2022 (in units), Number of Tesla vehicles delivered worldwide from 1st quarter 2016 to 4th quarter 2022 (in 1,000 units), Best-selling plug-in electric vehicle models worldwide in 2022 (in 1,000 units), Range of selected electric vehicle models 2022, EV range of selected MY 2022 electric vehicles (in miles), Tesla's revenue from FY 2008 to FY 2022 (in million U.S. dollars), Tesla's net income/loss from FY 2014 to FY 2022 (in million U.S. dollars), Tesla's research and development expenses from FY 2010 to FY 2022 (in million U.S. dollars), Tesla's selling, general and administrative expenses from FY 2008 to FY 2022 (in million U.S. dollars), Tesla's free cash flow by quarter 2019-2022, Tesla's free cash flow from 1st quarter 2019 to 4th quarter 2022 (in million U.S. dollars), Tesla's operating margin from 1st quarter 2019 to 4th quarter 2022, Tesla's market capitalization between March 31, 2020 and 2022 (in billion U.S. dollars), Tesla's revenue between FY 2019 and FY 2022, by segment (in millions U.S. dollars), Tesla's gross margin by segment 2019-2022, Tesla's gross margin from FY 2019 to FY 2022, by key segment, Tesla's domestic and international revenue 2018-2022, Tesla's revenue in the United States, China, and other markets from FY 2018 to FY 2022 (in millions U.S. dollars), Tesla: vehicle deliveries by main model and quarter 2022, Tesla vehicles delivered between 1st quarter 2020 and 4th quarter 2022, by main model (in 1,000 units), Quarterly Tesla supercharger station and connector volume worldwide 2020-2022, Global quarterly volume of available Tesla supercharger stations and connectors between the 4th quarter of 2020 and the 4th quarter of 2022, Plug-in electric vehicle sales worldwide by brand 2022, Estimated plug-in electric vehicle sales worldwide in 2022, by automaker (in units), Global plug-in electric vehicle market share in 2021, by main producer, Global revenue of BMW Group from FY 2007 to FY 2022 (in million euros), BMW i series - electric car sales 2014-2022, BMW Group's global BMW i series* vehicle sales from FY 2014 to FY 2022 (in units), General Motors Company's sales and revenue streams between FY 2013 and FY 2022 (in billion U.S. dollars), Chevy Bolt EV sales in the United States - 2017-2021, Number of Chevrolet Bolt electric vehicle sales in the U.S. between 2017 and 2021 (in units), Revenue of BYD Group from 2010 to 2021 (in billion yuan), BYD Group's total vehicle sales 2019-2021, by type, Total vehicle sales volume of BYD Group from 2019 to 2021, by type, Automotive manufacturers' estimated market share in the U.S. 2022, Estimated U.S. market share held by selected automotive manufacturers in 2022, Tesla's U.S. market share - December 2021, Tesla's estimated U.S. market share from January to December 2021, Best-selling plug-in electric cars in the United States 2022, Best-selling plug-in electric cars in the United States in 2022, based on new registrations (in units), Number of electric vehicle fast charging stations in the U.S. by network 2022, Number of electric vehicle fast charging stations in the United States as of September 2022, by type. Published by Statista Research Department , Feb 3, 2023 Key. With 20.5% share of the luxury market, Tesla share is more than 6 percentage points above that of runner-up BMW. Light Vehicle Market On Road to Recovery: Global light vehicle sales came in at a seasonally adjusted annual rate (SAAR) of 80 million units in February, flat compared with the year-ago period, analyst Horst Schneider wrote in a note. In 2022, the company started production at two new factoriesin Austin, Texas, and in Brandenburg, Germanyand ramped up production in Shanghai. We provide syndicated research reports as well as tailored. The second leading reason is the design and technology of EVs. The implementation of the recently proposed emissions standards from the US Environmental Protection Agency is set to further increase this share. Automotive lithium-ion (Li-ion) battery demand increased by about 65% to 550GWh in 2022, from about 330GWh in 2021, primarily as a result of growth in electric passenger car sales. For the latest news, Facebook, Twitter and Instagram. It's difficult to forecast, but a market share of several percent within a year or two is definitely on the table. BMW: EV sales by BMW in Q4 2022 rose 42% YoY, bringing the yearly total to over 360,000 units. Consumers can choose from an increasing number of options for electric cars. Tesla is still dominating the US electric car market, now with a 68% market share. Restaurant menu screens are looking at you to decide what you might want to eat. Tesla's sales volume translates into a market share of just. In 2022, about 60% of lithium, 30% of cobalt and 10% of nickel demand was for EV batteries. Tesla Leads EV Market Share, But Rivals' Cheaper Models Are Gaining Plug-in EV producers - worldwide market share | Statista Tesla stock fell 2% to close at 644.78 on the stock market today. Electric car sales are generally low outside the major markets, but 2022 was a growth year in India, Thailand and Indonesia. Quartz found that prices in Hong Kong were slashed as much as 20% on Model Y type. Authors may own the stocks they discuss. Volkswagen (VWAGY) takes third place with 10% battery-electric-vehicle market share and 183,197 vehicles sold. Get in Touch, 2023 copyrights Counterpoint Technology Market Research | All rights reserved, Global Electric Vehicle Market Share, Q1 2021 Q4 2022. In fact, S&P thinks that Teslas US EV share will drop to below 20% of the overall market by 2025 which means that either Tesla will have to falter or the rest of the industry will have to go all out in the next three years. Tesla is clearly the pioneer in the design, manufacturing, and sale of electric vehicles.