In the pure electric vehicle market, Tesla is the undisputed overlord and best-selling globally. However, with the rise of Chinese car companies such as BYD, the landscape has changed. Recently, the latest report released by market research agency Counterpoint Research shows that global passenger pure electric vehicle (BEV) sales increased by 29% year-on-year in the third quarter of 2023.Among them, BYD's BEV sales are tied with Tesla's and are expected to surpass it in the fourth quarter of this year to become the world's number one.
The report is very detailed, saying that China is the world's largest pure electric vehicle market. Although due to various factors, China's pure electric vehicle sales only increased by 11% in the third quarter, which is lower than the global average. However, overseas, Chinese brand pure electric vehicle sales exceeded 130,000 units, an increase of 4 times compared to the third quarter of last year!
Specific to brands and models, BYD (excluding Denza) has grown by 68% year-on-year and has caught up with Tesla.The global pure electric vehicle market share reached 17%, an increase of 4 percentage points compared with the same period last year., the third place is Volkswagen, accounting for 8%, followed by Geely, Trumpchi, Hyundai, etc.
The top five best-selling models in the world are dominated by Tesla and BYD.Tesla Model Y is the best-selling model in the world, followed closely by BYD Yuan PLUS (ATTO3), and Tesla Model 3 ranks third, BYD's Dolphin and Seagull, which were launched just this year, ranked fourth and fifth respectively.