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Home » Global Plug-In Car Sales in May 2023: Over 1 Million Again

Global Plug-In Car Sales in May 2023: Over 1 Million Again

    Global Plug-In Car Sales in May 2023: Over 1 Million Again

    In May 2023, the worldwide plug-in automobile market experienced a strong increase in sales, topping one million for the first time. This astounding feat reflects the growing popularity of electric vehicles and the trend toward more environmentally friendly modes of transportation. The surge in plug-in car sales represents a significant step towards a greener and cleaner future as the automotive industry continues to embrace eco-friendly technologies.

    In the First Five Months of 2023, the Share of All-Electric Vehicles Was 10%

    For the seventh time in history, global sales of plug-in electric vehicles surpassed one million units in May.

    According to figures given by Jose Pontes from EV-Volumes, around 1,057,509 new passenger plug-in electric cars were registered globally in May. This represents almost 50% more than a year earlier and approximately 16% of the whole market.

    Over 720,000 all-electric vehicles were sold, accounting for approximately 70% of the overall volume.

    It’s worth mentioning that, since February, battery-electric vehicles (BEV) have routinely achieved around a 10% market share.

    Last Month’s Registrations for Electric Vehicles

    • BEVs: approximately *727,000, accounting for 11% of the market.
    • PHEVs: around 330,000, with a 5% market share.
    • Total: 1,057,509 (increased 50% year on year) and 16% market share * calculated from market share

    Global Sales of Plug-In Electric Vehicles – May 2023

    So far this year, more than 4.5 million plug-in electric vehicles have been registered worldwide, accounting for almost 14% of the total volume.

    Year-To-Date Registrations of Electric Vehicles in 2023

    • BEVs: approximately *3.26 million, accounting for 10% of the market.
    • PHEVs: approximately *1.30 million, with a 4.0% market share.
    • Total: 4,558,183 (increased 41% year on year) and around 14% share * calculated from market share

    For context, more than 10 million new passenger plug-in electric cars were registered globally for the first time in 2022.

    Model Position

    The Tesla car Y was the most popular plug-in car in the world in May, with over 90,000 new registrations.

    The BYD Qin Plus family (BEV and PHEV) has 42,895 units behind the Model Y, the Tesla Model 3 has 38,453 units, and the BYD Song Plus family (BEV and PHEV) has 38,056 units.

    Chinese products topped the list, accounting for eight of the top 10, including five BYDs. We believe this is due to Western OEMs’ hesitation to build BEVs 5-15 years ago, whereas Chinese businesses pushed hard.

    The Following Are the Month’s Top Ten

    1. Tesla Model Y – 90,489
    2. BYD Qin Plus (BEV + PHEV) – 42,895
    3. Tesla Model 3 (BEV + PHEV) – 38,453
    4. BYD Song Plus (BEV + PHEV) – 38,056
    5. BYD Yuan Plus (also known as Atto 3) – 32,608
    6. BYD Dolphin 30,679
    7. GAC Aion S – 23,234
    8. MINI EV Wuling Hong Guang – 20,348
    9. BYD Han (BEV + PHEV) – 20,271
    10. GAC Aion Y – 19,310

    After the first five months of the year, we can observe the Tesla Model Y gaining ground on other models and the Tesla Model 3 competing for second place with the BYD Song family (mainly PHEV – 87%).

    The Volkswagen ID.4 is ranked 11th (68,818), just outside the top ten.

    The Rank of a Brand

    BYD reported over 228,000 new registrations for the most popular plug-in brands, significantly outselling any other brand. Tesla is about 100,000 units behind.

    The Following Are the Month’s Top 10

    1. BYD – 228,094
    2. Tesla – 134,020
    3. GAC Aion – 45,016
    4. BMW – 42,393
    5. Volkswagen- 40,012
    6. SAIC-GM-Wuling- 38,276
    7. Mercedes-Benz- 29.189
    8. Li Auto – 28,277
    9. Volvo – 24,937
    10. Changan – 23,167

    BYD remains the largest maker of rechargeable automobiles after the first five months (almost 950,000 units and a nearly 21 percent market share). BYD is also rapidly expanding its BEV/PHEV sales.

    Meanwhile, Tesla is the undisputed leader in the all-electric vehicle market (nearly 670,000 units versus fewer than 490,000 BYD).

    The relatively high position of BMW (a premium brand) is always noteworthy, but it’s probably only a matter of time before others, such as GAC or Volkswagen, take over.

    Thanks for reading. I hope you find it helpful.

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