Passenger electric vehicle sales enjoyed year-on-year growth of 32% in Q1 2023 globally, Counterpoint Research’s latest data shows. During this time, there was apparently an EV for every seven vehicles.
Q1 2023 sales per powertrain and key markets
The data reveals that battery electric vehicles contributed a whopping 73% of the overall EV sales in the first quarter of the year.
Meanwhile, plug-in hybrid electric vehicles accounted for the remaining 27%.
As for the leading markets, China remains the largest EV industry globally. However, it suffered a 12% drop in total passenger car sales. Nonetheless, its EV sales strongly grew 29% YoY, with a market share of 56% in Q1 2023.
The US successfully snatched the world’s second-largest EV market title from Germany in the same quarter with its astounding YoY sales growth of 79%.
Top 10 EV brands – Q1 2023
The top 10 automotive groups, which include 48 car brands, controlled the global EV market. The report noted that they accounted for three-fourths of all EV sales worldwide.
BYD led the pack with a 21.10% share, followed by Tesla (16.01%.)
Below are the rankings:
| Rank | Brand | Shares |
| 1 | BYD | 21.10% |
| 2 | Tesla | 16.01% |
| 3 | Volkswagen | 6.88% |
| 4 | Geely | 5.86% |
| 5 | GM | 4.71% |
| 6 | Mercedes Benz | 4.28% |
| 7 | BMW | 4.16% |
| 8 | Stellantis | 3.97% |
| 9 | Hyundai-Kia | 3.96% |
| 10 | Renault-Nissan | 3.82% |
Top 10 best-selling EVs – Q1 2023
The top 10 most popular EV models reportedly held 37% of the overall passenger EV sales in the year’s first quarter.
America’s Tesla Model Y defended its position as the global EV industry’s bestseller, followed by its sibling Model 3 sedan.
Meanwhile, its closest Chinese rival, BYD, secured five spots out of ten. The BYD Song family landed third, followed by its siblings Yuan Plus (Atto 3) and Qin family.
The other two BYD models were the Dolphin and Han family, placing seventh and ninth, respectively.
It is interesting to note that all the models in the top 10 rankings were Chinese except the two Tesla cars.
Below are the top 10 EV models in Q1 2023:
| Rank | Brand | Model | Power Type |
| 1 | Tesla | Model Y | EV |
| 2 | Tesla | Model 3 | EV |
| 3 | BYD | Song | EV+PHEV |
| 4 | BYD | Yuan Plus (ATTO 3) | EV |
| 5 | BYD | Qin | EV+PHEV |
| 6 | Wuling | Hongguang Mini EV Dolphin | EV |
| 7 | BYD | Dolphin | EV |
| 8 | Aion | S | EV |
| 9 | BYD | Han | EV+PHEV |
| 10 | Changan | Lumin | EV |
See Also:
- Plug-in car sales topped 800,000 globally in February, 2023
- BYD passenger plug-in car sales surpassed 150,000 units globally in January 2023
- Global Electric Vehicle sales surged more than 55% in 2022
- Top 5 Automakers: Most Global EV Sales
- Global plug-in electric car sales rose by 55% in October 2022
The market research agency’s Senior Analyst forecasted that global EV sales would top 14.5 million units by the end of the year. He further stated that the US would soon beat the EU in the battery industry, considering the federal tax credit that requires domestic production.
All that said, the reported global EV sales growth in Q1 2023 is encouraging for the entire industry, demonstrating the increasing popularity of the new technology among consumers.
