Critical Minerals and Energy Intelligence

Top News Highlights for the EV Market in Q2, 2023

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

Disclaimer

The Oregon Group maintains full editorial control over all content published on this website. While sponsored and advertised placements may be featured, the content remains the sole opinion of The Oregon Group. The author may receive compensation or remuneration for providing content, but all statements and expressions are made independently and are not influenced by sponsors or advertisers. From time to time, The Oregon Group and its directors, officers, partners, employees, authors, or members of their families, as well as persons who are interviewed for articles on this website, may have a long or short position in securities or commodities mentioned and may make purchases and/or sales of those securities or commodities in the open market or otherwise. By accessing and using this website, readers are cautioned to assume that each of the foregoing persons may have a financial interest in all companies and sectors mentioned on this website. Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable., and any such statements are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur.  Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities or commodities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and The Oregon Group undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material. The information provided on this website is for informational purposes only and is not, directly or indirectly, an offer, solicitation of an offer and/or a recommendation to buy or sell any security or commodity, and the information provided on this website should not be construed as any advice or an opinion as to the price at which the securities of any company or commodity may trade at any time. The Oregon Group is a publisher of financial information, not an investment advisor.  We do not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient, and the information provided on this website is not and should not be construed as personal, financial, investment or professional advice. Readers are cautioned to always do their own research and review of publicly available information and to consult their professional and registered advisors before purchasing or selling any securities or commodities and should not rely on the information contained herein. Neither The Oregon Group nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. By using the Site or any affiliated social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.

Share this article

about the author

Picture of The Oregon Group

The Oregon Group

The Oregon Group is an investment research team focused on critical minerals, mining, energy and geopolitics.

Our Podcast

Tags

Subscribe Now

Subscribe and get market and industry trends delivered to you in real-time.

SUBSCRIBE FOR INVESTMENT INSIGHTS

Welcome to The Oregon Group, an investment research team focused on critical minerals, mining, energy and geopolitics.

Our independent capital markets experts are sharing their boardroom expertise and institutional experience to help you profit and hedge your investment exposure during this time of unmissable opportunity.