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BYD Set to Challenge Tesla for the Crown in EV Sales in 2024, Says TrendForce

2024/02/20

Emerging Technologies

TrendForce reports that global sales of NEVs, including BEVs, PHEVs, and FCVs, reached 13.03 million units in 2023—marking a growth rate of 29.8%. This represents a significant slowdown from the 54.2% growth rate in 2022. Of these, BEVs accounted for 9.11 million units with a growth rate of 24%, and PHEVs reached 3.91 million units, growing at 45%.

Press Releases
China Projected to Export 1.2 Million NEVs in 2023 amid Tightening Tariffs by the US, Says TrendForce

2024/01/02

Emerging Technologies

TrendForce reports that the global sales volume of NEVs (including BEVs, PHEVs, and FCVs) is estimated to reach approximately 12.8 million units in 2023. Regional market sales shares are expected to be 60% in China, 22% in Western Europe, 11% in the United States, and 6% in other regions, with China’s market demand distinctly in the lead.

Press Releases
NEV Sales Hit 3.455 Million in 3Q23, BYD’s BEV Sales Hot on Telsa’s Heels, Says TrendForce

2023/11/30

Emerging Technologies

TrendForce’s latest investigations reveal groundbreaking developments in the NEV sector for 3Q23. Total sales of NEVs, including BEVs, PHEVs, and FCEVs, soared to 3.455 million units and registered a substantial 28.1% YoY growth. While BEVs accounted for about 70% of these sales, the standout performers this quarter were PHEVs, which saw a staggering YoY growth of 47.8%—contributing significantly to the momentum of the NEV market. 

Press Releases
BYD Soared to Become Fourth-Largest Global Car Brand in August and Were Closely Behind Japanese Automakers in Rankings, Says TrendForce

2023/09/28

Emerging Technologies

According to the latest data from TrendForce, car sales across 37 regional markets (as indicated in the notes under the table below) in August totaled 5.55 million vehicles, representing an increase of nearly 1% compared with July.

Press Releases
BYD Secures Fifth Spot in Global Auto Sales for July, Eyes International Expansion Amid Positive Outlook, Says TrendForce

2023/09/01

Emerging Technologies

In July 2023, global car sales faced a noticeable downturn, with 5.44 million vehicles rolling off the lot across 37 key markets—a 10% dip compared to June’s figures, according to TrendForce research.

Press Releases
BYD Closes In on Tesla in Q2 BEV Sales, with Surges Noted in Thailand and Australia, Says TrendForce

2023/08/17

Emerging Technologies

The global automotive landscape is undergoing a decisive shift toward new energy vehicles (NEVs). TrendForce reports that in 1H23, NEV sales—which encompass battery electricity vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell electric vehicles (FCEVs)—soared to an impressive 5.462 million units, reflecting a growth of 33.6% YoY. Specifically, Q2 sales reached 3.03 million units, a 42.8% YoY surge, constituting 14.4% of total car sales for the period, and playing a pivotal role in 1H23 growth.

Press Releases
Chinese Car Brands Aggressively Expanding Overseas, Projected to Penetrate 9% of Western Europe’s NEV Market by 2023, Says TrendForce

2023/06/30

Emerging Technologies

While gasoline cars still dominate exports, the tides are turning rapidly. NEVs accounted for a staggering 25% of Chinese auto exports 1Q23, establishing them as the focal point for future global expansion, according to TrendForce's report "An Analysis of the Overseas Expansion of Chinese Car Brands".

Press Releases
Global New Energy Vehicle Sales Reach 2.656 Million Units in Q1, Tesla Reclaim Market Share, Says TrendForce

2023/05/31

Emerging Technologies

TrendForce reports the total sales of New Energy Vehicles (NEVs)—comprising BEVs, PHEVs, and FCVs—reached 2.656 million units in the first quarter of 2023, marking a 28% YoY increase. Sales of BEVs contributed 1.942 million units to this total, a YoY growth of 26%, while PHEV sales amounted to 711,000 units, signifying a 34% YoY increase.

Press Releases
Global NEV Sales Rose by More Than 60% YoY to Surpass 10 Million Units for 2022 and Will Keep Growing in 2023, Says TrendForce

2023/02/21

Emerging Technologies

According to TrendForce’s latest research, global sales of new energy vehicles (NEVs) rose by 63.6% YoY to 10.65 million units for 2022. Of this total, sales of battery-electric vehicles (BEVs) comprised 7.89 million units and registered a YoY growth rate of 68.7%.

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