Tesla Still Dominates Global Electric Vehicle Demand, BYD Following 2nd Position

Tesla Model 3 and Model Y. (Doc. Tesla)

JAKARTA - Tesla continues to maintain its dominance in demand for battery electric vehicles (BEV) globally until the third quarter of this year, EV-Volumes data released by researcher Jose Pontes confirmed this.

According to a report from InsideEVs, Friday, November 10, Tesla occupies the top spot in electric car production, with more than 1.3 million new registrations, which account for a total of 20.1 percent globally. This figure shows an increase from the previous year which reached 18.5 percent.

The second rank is occupied by a Chinese manufacturer, BYD, which recorded more than one million units with a global market share of 15.9 percent. There has been a significant increase from the previous year which only reached 11.9 percent.

The combination between Tesla and BYD managed to reach 36 percent of total BEV sales, up from 30.4 percent in the previous year. With this significant growth, it is possible that this figure will reach 40 percent in the coming years.

In third place, the Volkswagen Group recorded 7.7 percent, a slight increase from the previous year which was only 7.4 percent, showing the continuity of positive development for VW.

Meanwhile, in fourth place is a manufacturer from China, SAIC, which recorded 7.5 percent, and in fifth position there was GAC with a record 5.7 percent.

Overall, companies in the top five managed to increase their market share from 53 percent in the previous year to nearly 57 percent this year, indicating that companies outside the top group, in many cases, are trying to catch up with industry leaders.

The following are the details of electric car production from the first quarter to the third quarter of 2023:

Tesla: 1,323,868 units, with a market share of 20.1 percent

BYD Group: 1,048,513 units, with a market share of 15.9 percent

Volkswagen Group: 510,204 units, with a market share of 7.7 percent

SAIC (including SAIC-GM-Wuling): 491,633 units, with a market share of 7.5 percent

GAC: 373,718 units, with a market share of 5.7 percent

The total production from the top five reached 3,747,936 units with a market share of 56.9 percent. Meanwhile, 43.1 percent or about 2.8 million units were spread among various other manufacturers. Overall, global demand reached more than 6.5 million units.