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HomeNewsBYD beats Tesla to become the top EV brand in the world

BYD beats Tesla to become the top EV brand in the world

The global PEV sales grew to 61% Y-o-Y accounting for 2.18 million units in the second quarter of 2022.

For the first time, China’s BYD became the top-performing EV brand in the world, beating Tesla by selling 3,54,000 EV units, marking a 266 percent Y-o-Y increase. In comparison, the global sales for Tesla stood at 2,54,000 units with only a 27 percent Y-o-Y increase. 

A recent report from Counterpoint’s Global Passenger Electric Vehicle Model Sales Tracker states that the global PEV sales grew to 61% Y-o-Y, accounting for 2.18 million units in the second quarter of 2022. 

The BEVs accounted for 72 percent of the report, while the PHEVs constituted the remaining EV sales. China topped the leaderboard, clocking a 92 percent Y-o-Y increase, accounting for 1.24 million units compared to the 0.64 million units sold in the previous year, followed by Europe and US. 

Read More: Tesla Faces Lawsuit Over Phantom Braking Issue

While the top two performers in the list expect better sales amid the comparatively better situations, the other top players are also regaining the lost ground. As per the report, the top 10 EV models accounted for more than 30 percent of global EV sales in Q2 2022. 

The Wuling Hongguang Mini EV was the best-selling model for the China market and grew to a whopping 16 percent on a Y-o-Y basis, becoming the third-ranked in global EV sales. 

On the other hand, BMW aims to bring about 2 million BEVs on the road by 2025 as the German luxury manufacturer grabbed the fourth spot with an 18 percent Y-o-Y growth. Volkswagen saw a decline in the growth graph and only a percent Y-o-Y increase in Q2 2022. Hence, the world’s number one automobile manufacturer took the fifth spot. 

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Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.

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