Top-5-Automotive-Groups-Leading-the-Electric-Vehicle-Market-in-Q1-Q4-2022

Top 5 Automotive Groups Leading the Electric Vehicle Market in Q1-Q4 2022

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Top 5 Automotive Groups Leading the Electric Vehicle Market in Q1-Q4 2022

More than 10 million electric vehicles with batteries were sold worldwide in 2022, which accounts for 14% of all vehicle sales. Today, we will look at the biggest companies that make battery-powered vehicles.

According to data from EV-Volumes, shared by Jose Pontes, five car companies are responsible for more than half of all battery-powered vehicle sales.

First, let’s look at the volume and market share of the top companies in the overall battery-powered market and then in the battery-electric segment.

Battery-Powered Vehicles (BEV+PHEVs)

In the battery-powered category, which includes all-electric (BEV) and plug-in hybrid (PHEV) vehicles, the top five companies did not change in the last quarter.

BYD strengthened its position as #1 with more than 1.85 million units sold and an 18.4% share. The Chinese company doubled its sales volume in 2022 compared to 2021.

Tesla, which was the leader in 2018, 2019, 2020, and 2021, came in second, more than half a million units behind BYD. This reduced Tesla’s market share in the battery-powered segment to 13.0% (from 14.4% a year ago).

Volkswagen Group also dropped one position and was third in 2022 with over 831,000 units. That’s 8.2% of the total, compared to 11.7% a year ago.

Following the top three are SAIC (7.2%), Geely-Volvo (6.0%), Stellantis (4.7%), and Hyundai Motor Group (4.6%).

Battery-Powered Vehicle Registrations in Q1-Q4 2022 (compared to the previous year):

BYD: 1,857,549 and 18.4% share (compared to 9.1%)

  • Tesla: 1,314,330 and 13.0% share (compared to 16.0%)
  • Volkswagen Group: 831,844 and 8.2% share (compared to 13.0%)
  • SAIC (incl. SAIC-GM-Wuling): 724,911 and 7.2% share (compared to 10.5%)
  • Geely-Volvo: 606,114 and 6.0% share
  • Top 5 total: 5,334,748 (52.8% share)
  • Others: 4,756,416 (47.2% share)
  • Total: 10,091,164

Battery-Electric Only (BEV)

In terms of all-electric vehicle registrations, the top five companies are slightly different because Tesla, which focuses on BEVs, is far ahead of everyone else. In 2022, the company delivered more than 1.3 million electric vehicles.

That’s 18.2% of all BEV sales worldwide, although Tesla’s share decreased by about 5 percentage points compared to 2021. This indicates that the company was expanding slower than the overall segment.

BYD significantly increased its BEV sales in 2022, reaching 913,052 units and a 12.6% share in the BEV segment. It is unlikely that the Chinese company will be able to surpass Tesla this year, but the race continues.

Next is SAIC (9.3%), but only because of the SAIC-GM-Wuling joint venture and its microcars.

The Volkswagen Group – fourth last year with a 7.9% share – is expected to return to the podium (it was third in 2021 with a 10% share).

The fifth-largest OEM in the BE

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