In the first quarter of this year, global sales of electric vehicles (EVs) increased by 32 percent compared to last year. According to the latest data from the Global Passenger Electric Vehicle Model Sales Tracker, one in seven vehicles sold during the period was an EV.
73 percent of total EVs sold were battery EVs (BEVs), with the rest being plug-in hybrid EVs (PHEVs).
Counterpoint Research reports that the United States will overtake Germany as the world’s second largest EV market in the first quarter of 2023. EV sales in the Chinese market rose 29 percent during that period, even as the country’s total private car sales fell 12 percent.
Statistics show that EV sales have increased by 79 percent in the US market alone. Among the 48 car brands, the top 10 motorcycle groups dominated the global EV market in the first quarter. These 10 companies accounted for three-fourths of the overall sales.
Passenger EVs accounted for 37 percent of the top 10 models in total EV sales in the first quarter of 2023. Tesla’s ‘Model Y’ is the best selling model in the world. After that Tesla ‘Model 3’ and BYD’s ‘Song’.
Counterpoint Research estimates that global EV sales will exceed 1.45 million units by the end of 2023.
