China Dominates Global Auto Market in 2023
TL;DR Summary
In 2023, BYD dominated China's new energy vehicle (NEV) market with a 35% share, followed by Tesla at 7.8% and Nio at 2.1%. BYD's retail sales of NEVs in 2023 were 2,706,075 units, while Tesla's were 603,664 units. BYD's success was attributed to its diverse range of models, including both battery electric vehicles (BEVs) and plug-in hybrids (PHEVs). This marks the first time BYD's quarterly BEV sales surpassed Tesla's global sales.
- Automakers' NEV market share in China in 2023: BYD 35%, Tesla 7.8%, Nio 2.1% CnEVPost
- China is ‘certain’ to have overtaken Japan as the world’s top auto exporter in 2023, industry group says CNN
- China Produces a Record 30 Million Cars and Exports Soar Bloomberg
- Top-Selling car brands in December 2023 in China – BYD first, VW second, Toyota third CarNewsChina.com
- China tops global automobile export market from Jan. to Nov. 2023 Arirang News
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