Our latest news highlights list – this one for EVs in the last quarter.
- Global EV Sales Surge 50% Year-over-Year: In Q2 2023, global battery electric vehicle (BEV) sales experienced a significant 50% increase compared to the same period in the previous year. This growth was primarily driven by strong performances in Western Europe, North America, and emerging markets across Asia
- Tesla Maintains Global Leadership Amidst Growing Competition: Tesla continued to lead the global EV market, delivering approximately 466,000 vehicles in Q2 2023, marking an 83% year-over-year increase.
- BYD Sees Impressive Growth: Chinese automaker BYD reported sales of over 352,000 passenger EVs in Q2 2023, reflecting a 95% year-over-year growth.
- Volkswagen Group’s BEV Sales Increase by 53%: Volkswagen Group sold approximately 180,600 BEVs in Q2 2023, a 53% increase compared to the same quarter in the previous year.
- BMW Group Doubles Its All-Electric Vehicle Sales: BMW Group more than doubled its BEV sales in Q2 2023, delivering 88,289 units, a 117% increase year-over-year.
- U.S. EV Market Achieves Record Sales: The U.S. EV market reached a new quarterly record in Q2 2023, with nearly 300,000 BEVs sold, representing a 48.4% increase from Q2 2022. Tesla remained the dominant player, though its market share dipped below 60% for the first time
- China’s EV Sales Grow Amid Economic Challenges: China’s BEV sales grew by 37% year-over-year in Q2 2023. While this growth was below the global average, Chinese OEMs like BYD, GAC Group, and Geely Holdings continued to dominate, accounting for 56% of global EV sales.
- Global EV Market Share Expands: EVs accounted for 7.2% of total U.S. auto sales in Q2 2023, up from 5.7% in the same quarter of the previous year.
Anthony Milewski
Chairman, Nickel 28 Capital