Global new energy vehicles up 53.5% on year in Q2, Tesla market share declined – research
DATA
Global new energy vehicles up 53.5% on year in Q2, Tesla market share declined – research
DATA

Global new energy vehicles up 53.5% on year in Q2, Tesla market share declined – research

 

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The global sales of new energy vehicles (including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) reached 2.192 million units in the second quarter, surging 53.5% from a year earlier, according to TrendForce data.

Sales of battery electric vehicles (BEV) reached 1.608 million units, up 64.9% on year, and sales of plug-in hybrid electric vehicles (PHEV) were 580,000 units, up 29%, showed the data.

In BEV brand rankings, although TESLA still tops the list, its market share has dropped sharply and the company’s single-quarter market share has dropped from 20.1% in the first quarter to a new low of 15.9%. TrendForce believes that it is becoming increasingly difficult for TESLA to recover greater market share as traditional automakers are narrowing the gap with TESLA including in accelerating vehicle launches, increasing the variety of models, strengthening factory manufacturing capabilities, and accelerating iterations of assisted driving systems.

Second-ranked BYD’s global market share has risen from 9.3% in the first quarter to 11.2%. In terms of PHEVs, BYD ranked 1st with sales of 173,000 units in the second quarter and a market share of 29.8%.

Although many obstacles remain for the production processes of the automotive market, TrendForce expects conditions to gradually improve in the second half and the growth trend of NEVs will remain unchanged and the overall sales forecast remains optimistic. The penetration rate of NEVs in the overall auto market is expected to reach 13% in 2022, it said.