Tesla share slips

Author: EIS Release Date: Aug 24, 2022

Q2 sales of NEVs (including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) reached 2.192 million units, 53.5% y-o-y, according to TrendForce.

 

Sales of battery electric vehicles (BEV) reached 1.608 million units, 64.9% YoY, and sales of plug-in hybrid electric vehicles (PHEV) were 580,000 units, 29% YoY.

 

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 1Q22 to a new low of 15.9%.

 

Tesla lost production from its  Shanghai plant in April caused by China’s lockdown measures and mass production has yet to begin at TESLA’s Berlin plant and Texas plant.

 

Second-ranked BYD has provided a wealth of options in terms of car models and its global market share has risen from 9.3% in 1Q22 to 11.2%.

 

Chinese brands landed six of the top 10 ranks in 2Q22 due to their huge market advantages.

 

BMW and Mercedes-Benz have climbed to 12th and 14th place after accelerating their transition to BEVs.

 

For PHEVs, BYD ranked 1st with sales of 173,000 units in 2Q22 and a market share of 29.8%.