Automotive Industry: Current State of EV Sales: Difference between revisions

Automotive Industry: Current State of EV Sales (view source)

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 === China Market ===
-* In China, Tesla's market share is expected to drop to 13.7% in Q2 of 2023 from 16% in Q1 of 2023, according to China Merchants Bank International Securities analyst, Shi Ji. On the other hand,  its China EV main competitors such as BYD and Aion keep growing their market share. In Singapore and Australia, Tesla is also being outsold by BYD<ref name=":0">https://e.vnexpress.net/news/world/tesla-to-hit-record-quarterly-sales-in-china-even-as-market-share-shrinks-analysts-4622809.html#:~:text=Tesla%20is%20set%20to%20hit,largest%20auto%20market%2C%20analysts%20say.</ref>.
+* According to Counterpoint Research, BYD was the top EV seller in China in 2022 with a market share of 29.7%, followed by General Motors(GM) with 8.9% and then Tesla 8.8%<ref>https://www.counterpointresearch.com/china-ev-sales-2022/</ref>.The likes of Volkswagen did not appear in the top 5 list.
-* To increase sales in China, Tesla lowered prices of its aging models, model 3 and model Y. It also plans to revamp them<ref name=":0" />.
+* According to Reuters, the combined EV market share of Audi, BMW, Volkswagen and Mercedes-Benz added up to only a quarter of BYD's in 2022<ref>https://finance.yahoo.com/news/analysis-german-automakers-fight-defend-165410582.html</ref>.[[File:Top 5 EVs in China 2022.png|thumb|916x916px|Source: CounterPoint Research]]
 == References ==