Chinese EV maker BYD is said to have become the top-selling EV brand in the world for the first time. As per the latest reports, the brand registered 3,54,000 units of EV sales globally. Thus, marking a staggering 266 per cent annual growth.
In addition to this, the sales figures also helped BYD overtake Tesla. Tesla’s global EV sales saw a 27 per cent growth for the same period and registered 2,54,000 units. The dip in sales could be due to the semiconductor shortages and the pandemic, which affected the industry a great deal. Senior Analyst Soumen Mandal also said EV sales would have been higher if China had not experienced fresh COVID-19 outbreaks in March.
Global EV Sales On The Rise
As per a report from Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker, YoY sales of PEVs increased by 61 per cent globally, accounting for 2.18 million units in Q2 2022. The report also states that BEVs accounted for a total of 72 per cent, while the remaining 28 per cent came from PHEVs. As per the report, China topped the market leaderboard for EV sales, accounting for 1.24 million units. Thus, marking an annual growth of 92 per cent. Following China on the market leaderboard were Europe and US.
Other Top-Selling EV Brands
China-based Wuling was ranked 3rd in global EV sales, after BYD and Tesla. Wuling’s Hongguang Mini EV also became the best-selling model in China, while its YoY growth saw a 16 per cent increase. While BYD and Tesla expect better sales as situations improve, the other top players are also regaining lost ground. The report also suggests that the top 10 EV models accounted for more than 30 per cent of global EV sales in Q2 2022.
In 4th place was BMW, which recorded an 18 per cent YoY growth. The German brand’s i-Series line pushed BEV sales. On the other hand, the 3-Series, 5-Series and X5 saw an increase in sales in the PHEV segment. Meanwhile, Volkswagen secured the 5th spot on the list and saw only a 1 per cent YoY growth in Q2 2022.
Also Read: BYD Atto 3 electric SUV coming soon to India?
