Institution: Global sales of new energy vehicles increased by 28.1% year-on-year in Q3, with BYD and Ideal occupying the top two in the plug-in hybrid market
胡胡胡美丽_ss
发表于 2023-11-30 18:38:17
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According to data released by market research firm TrendForce Consulting on November 30th, the global new energy vehicle market continued to show strong growth in the third quarter of 2023, with total sales reaching 3.455 million units, a year-on-year increase of 28.1%.
Among them, pure electric vehicles (BEVs) account for about 70% of the entire new energy market share, and plug-in hybrid vehicles (PHEVs) have also attracted attention with an annual growth rate of 47.8%.
In the pure electric vehicle market, the competition between Tesla and BYD is particularly fierce, with a sales gap of less than a thousand vehicles between the two. BYD, with its diverse product line and wide coverage of price bands, especially its models that cover the world's largest new energy vehicle consumer market in China's mainstream price band, has begun to expand into markets outside of the first tier.
Although Tesla has made price adjustments, its main customer base is still concentrated in first and second tier cities. In addition, GAC Aion, Volkswagen, and SAIC GM Wuling ranked third to fifth respectively.
The polarization trend in the plug-in hybrid vehicle market is more evident, with BYD continuing to lead and its luxury brand Tengshi improving the overall performance of the brand. Ideal Automobile, with its strong demand in the field of large SUVs, achieved its first quarterly sales of over 100000 units and a market share of 10%. BMW and Mercedes Benz have stable performance, but the challenge is how to quickly expand to avoid being replaced by other competitors.
Jibang Consulting
In terms of specific rankings, Tesla and BYD are tied for first place in the electric vehicle market, both occupying 18.0% of the market share, followed closely by GAC Aion with a market share of 5.8%. Volkswagen ranks fourth with a market share of 4.8%, followed closely by SAIC GM Wuling with a market share of 4.6%. BMW, Hyundai, Mercedes Benz, NIO, and Kia respectively occupy sixth to tenth positions.
In the field of plug-in hybrid, BYD is far ahead with a market share of 35.2%. Ideal Automobile closely followed with a share of 10.0%, marking its success in the large SUV market. BMW and Mercedes Benz respectively ranked third and fourth with 4.0% and 3.9%. Deep Blue Motors, Geely, Volvo Cars, Toyota, Tengshi Motors, and Jeep are ranked fifth to tenth respectively.
TrendForce Consulting pointed out that although the new energy vehicle market is expected to maintain a growth rate of 32% in 2024, with a total expected to reach 17 million vehicles, the market is also facing some warning signals. This includes factors such as delayed electrification strategies by the two major car manufacturers in the United States, layoffs by car manufacturers, and reduced investment by battery manufacturers, all of which may affect long-term market growth.
It is worth noting that it is expected that the competition in the pure electric vehicle market will continue to intensify in the coming years. Some multinational brands such as Hyundai, Kia, and Volkswagen still have the potential to further unleash sales growth in pure electric vehicles.
Hyundai and Kia's current sales of electric vehicles in the Chinese market can be almost negligible, but they have achieved a doubling of the annual growth rate of electric vehicle sales in overseas markets with strong demand.
Volkswagen's situation is similar, although its delivery volume in the Chinese market decreased by 5.8% in the third quarter, strong demand in the European and North American markets led to a 7.4% increase in its group's delivery volume. Volkswagen's pure electric vehicle delivery volume increased by 40.5% in the third quarter.
Meanwhile, all three companies have made it clear that they will continue to expand their presence in the Chinese market in the future.
As the new energy vehicle market matures and policy support decreases, new energy vehicles will increasingly rely on manufacturers' market strategy adaptability and technological innovation capabilities. Product quality, technological advantages, and sensitivity to consumer demand will determine the future.
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