Korean media: BYD and Geely dominate the electric vehicle market, while Tesla struggles!
On December 1, Korean media "Herald Economy" published an article stating that Chinese electric vehicle companies are sweeping the global market by expanding exports to Europe, Central and South America, and other overseas markets, to reduce dependence on the domestic market. BYD and Geely currently rank first and second in global electric vehicle sales, while Tesla's ranking has declined.
Data released by SNE Research shows that from January to September this year, the total number of global electric vehicle registrations reached 15.016 million, an increase of 27.2% compared to the same period last year. BYD maintained its leading position with sales of 2.961 million, with a market share of 19.7%.
BYD's electric vehicle sales increased by 10.6% year-on-year. The company is expanding its market position by building and expanding factories in Europe and Southeast Asia. In addition, BYD has enhanced brand awareness through price competitiveness and technical strength, while expanding its product line to include commercial vehicles and small cars.
Geely Group ranked second with sales of 1.522 million, an increase of 64.7% year-on-year. This success stems from its diversified brand portfolio, which covers a wide consumer base. Driven by the transition to electrification, Geely has independently developed battery, electronics, and software technologies, enhancing production capabilities and thus improving its competitiveness.
Tesla still ranks third with sales of 1.218 million, a decrease of 5.9% compared to the same period last year. The decline in sales of its flagship models Model 3 and Model Y is the main reason for the overall decline in sales. The global sales of these two models decreased by 4.3% to 1.179 million. From a regional perspective, sales in Europe and China decreased by 19.7% and 6%, respectively.
Hyundai Motor Group ranked seventh with sales of 484,000, an increase of 16.6%, showing a steady growth trend. Especially in the North American market, before the end of the electric vehicle subsidy by the US government at the end of September, the company delivered 64,000 units, ranking third after Tesla and General Motors.
SNE Research analysis pointed out that although the global electric vehicle market continued to grow this year, the differences in regional demand structure and policy environment have become increasingly evident.
The growth of the Chinese car market is mainly due to the expansion of domestic demand, especially the demand for low- and mid-priced models, as well as the electrification of commercial vehicles. The European automotive market has maintained some sales growth due to new car launches and price competition, but demand recovery remains slow due to high interest rates and reduced consumer spending. In North America, as the expiration of the consumer tax credit policy, people are increasingly worried about a slowdown in demand.
SNE Research said: "Despite the uncertain policy environment and pressure on profitability, global automakers are striving to ensure long-term competitiveness through technological internalization, strengthening local procurement systems, and cost-effective product strategies."
Original: toutiao.com/article/1850306910654474/
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