▲ Top 10 BEV and PHEV companies by global sales (Image source: TrendForce)


Global NEV sales reach 2.87 million units in 3Q 2022
BYD narrows BEV sales gap with TESLA to 100,000 units

Hyundai and Kia were pushed out of the top 10 global electric vehicle sales in the third quarter of 2022.

According to TrendForce, Hyundai and Kia failed to make it into the top 10 in global battery electric vehicle sales, giving way to Chinese companies.

TrendForce announced on the 24th that global sales of NEVs, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel cell vehicles (FCVs), reached 2.87 million units in the third quarter of 2022, up 70% year-on-year.

BEV sales in the third quarter of 2022 were 2.147 million units, up 75% year-on-year, and PHEV sales were 714,000 units, up 57% year-on-year.

Looking at the ranking of companies with BEV sales in the third quarter of 2022, Tesla ranked first with approximately 344,000 units.

Tesla has 16% of the BEV market share, but is closely followed by second-place BYD.

BYD's BEV sales in the third quarter of 2022 reached 259,000 units, up 182% year-on-year, maintaining the gap with Tesla at less than 100,000 units for two consecutive quarters.

Shanghai GM Wuling (SGMW) and Volkswagen It ranked 3rd and 4th, unchanged from the previous quarter.

The 5th to 10th places are all occupied by Chinese brands, with MG motor, acquired by SAIC Motor, taking 10th place, and Geometry entering the top 10 for the first time in 9th place.

Hyundai and Kia were pushed out of the top 10.

In the plug-in hybrid electric vehicle segment, BYD ranked first in the third quarter of 2022 with 279,000 units and a 39.1% share.

Mercedes-Benz and BMW followed in second and third place.

TrendForce said that Mercedes-Benz's sales growth in both the domestic and Chinese markets was the main reason for its second place, while BMW's sales of PHEVs in Europe fell one place.

China's AITO achieved a double victory by entering the top 10 PHEV sales companies for the first time in the third quarter of 2022, ranking fifth.

AITO is a brand under Seres and has a partnership with Huawei, and many of Huawei's technologies are applied in its vehicles.

TrendForce predicts that the future market performance of AITO vehicles will actually become an important indicator of Huawei's progress in developing its automotive business.

Kia barely made it to 10th place with a market share of 2.9%.

TrendForce then predicted that many companies will launch new car models and run promotions in the fourth quarter of 2022, which will have a positive impact on global automobile sales.

TrendForce also expects that auto brands operating in China will continue to offer vehicle purchase incentives in the fourth quarter, and sales may increase further as Chinese consumers have the desire to purchase before the government's NEV subsidy program ends. />
Meanwhile, Hyundai Motor Company took steps to strengthen its electrification leadership by unveiling the Ioniq 6 for the first time in North America at the '2022 LA Auto Show' on the 17th.

As Hyundai Motor Company's investment is being made to respond to the US Inflation Reduction Act (IRA) and is being recognized overseas, it is difficult to rule out the possibility that it will overturn the global sales landscape.

“The IONIQ 6 is a model that meets the expectations of many North American customers interested in switching to an eco-friendly vehicle,” said Jose Muñoz, Hyundai’s global chief operating officer. “It will stand out from other dedicated electric vehicle models by offering a sporty image, spacious interior, various battery options, and fast charging that will satisfy customers.”