With nearly 5% market share, the Chinese giant BYD, number 2 in electric cars behind Tesla, last July became the 5th largest manufacturer in the world, ahead of Hyundai and Suzuki. The Chinese firm is now close behind Ford and is far ahead of Tesla. But be careful, because these figures do not only relate to electricity.
As we know, the share of electric cars has continued to increase over the years, while the public authorities encourage people to switch to this motorization with the help of tax credits and other ecological bonuses. Not to mention the growing choice on the market, as well as falling prices, particularly at Tesla. So much so that sales of zero-emission (exhaust) models have exceeded those of diesels in Europe.
BYD at the top
And this is undoubtedly thanks to Elon Musk’s brand, which currently remains the world number 1 in electric, with nearly 900,000 cars sold since the beginning of the year. But the American firm should not rest too much on its achievements, because a rival is on its heels and does not intend to be left behind. This is the Chinese firm BYD, which is slowly starting to arrive in Europe.
The manufacturer, whose Dolphin we recently tested, is currently on the 2nd step of the podium in terms of electric sales. In fact, no less than 616,810 cars have been sold since January. But the brand has just reached a new major milestone, as announced in a report from the firm TrendForce recently made official.
According to the latter, BYD has officially become the 5th largest manufacturer in the world, with a market share of 4.7%. Thus, the firm overtakes Hyundai and Suzuki, and is positioned just behind Ford, which has a share price of 4.9%. A great performance for the Chinese manufacturer, which should not delight the European Union which fears this invasion from the Middle Empire.
Fear which should be allayed by the establishment of one or more factories on the Old Continent in the coming years. The Asian manufacturer therefore continues its ascent, while it passed Volkswagen in its native market since last April. Nothing seems to be able to stop him now!
Pay attention to the numbers
In the global market, BYD has long overtaken the German manufacturer, but only if we take into account sales of electric cars. Because the German firm, which has just revealed its ID. GTI Concept in Munich remains the 2nd global brand, behind Toyota and just ahead of Honda with 6.6% market share.
But a question logically comes to mind: where is Tesla? Because the manufacturer is not even part of the top 10, whilehe is the world leader in electric. In fact, remember that BYD does not only sell 100% electric cars, unlike its rival. And the figures announced by TrendForce take into account all the brand’s registrations, including hybrids also.
This explains why the Chinese firm remains number 2 if we only take into account sales of purely BEV (battery electric vehicles) models. According to the press release published in August by BYD, the brand would not have sold less than 1.5 million electrified cars between January and July, including 92,469 outside its native market. For comparison, Tesla hopes to sell 1.8 million vehicles by the end of the year.
According to the report, 5.44 million electric cars were registered worldwide in July, i.e. a decrease of 10% compared to June last. The firm recalls that the 10 main manufacturers alone represent 50.7% of total deliveries. With 132,593 units sold, the Tesla Model Y led electric sales worldwide in July, followed by the Model 3. Plus and Qin Plus hybrids
Top 10 manufacturers in the world – July 2023
| Brand | Market shares |
|---|---|
| Toyota | 10.2% |
| Volkswagen | 6.6% |
| Honda | 5.0% |
| Ford | 4.9% |
| BYD | 4.7% |
| Hyundai | 4.3% |
| Suzuki | 4.1% |
| Chevy | 3.8% |
| Kia | 3.7% |
| Nissan | 3.5% |
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