Visualizing Global Electric Vehicle Sales in 2023, by Market Share

This post is by Marcus Lu from Visual Capitalist

See this visualization first on the Voronoi app.

Graphic illustrating the global electric vehicle market share for 2023

Visualizing the Global Electric Vehicle Market in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Analysts anticipate that China’s largest electric automaker BYD will surpass Tesla in battery electric vehicle (BEV) sales for 2024. In this graphic, we illustrate the global BEV market share for the full year 2023, based on figures compiled by TrendForce.

BYD Likely to Surpass Tesla in 2024

Currently, the top 10 BEV companies make up 65% of the overall market. Given that BYD already outsold Tesla in the fourth quarter of 2023 (526,000 compared to 485,000), the Chinese company is expected to surpass Elon Musk’s automaker before the end of the year. Currently, Tesla holds a 19.9% share of the market, closely followed by BYD with 17.1%.
RankBrandCountryMarket Share in 2023
1Tesla🇺🇸 US19.9%
2BYD🇨🇳 China17.1%
3GAC Aion🇨🇳 China5.2%
4SAIC-GM-Wuling🇨🇳 China4.9%
5Volkswagen🇩🇪 Germany4.6%
6BMW🇩🇪 Germany3.6%
7Hyundai🇰🇷 S. Korea2.9%
8Mercedes-Benz🇩🇪 Germany2.6%
9MG🇨🇳 China2.3%
10KIA🇰🇷 S. Korea2.0%
In 2022, the Chinese automaker overtook Tesla as the top producer of EVs, when non-BEVs are included in sales totals. It produced 1.8 million vehicles compared to Tesla’s 1.3 million. BYD has relied on stable domestic sales performance but is also expanding its international presence. The (Read more…)