BYD becomes the top EV seller in the world; overtakes Tesla

BMW secured fourth place, while Volkswagen came in fifth in the global EV sales list.

Chinese carmaker BYD is said to have become the top EV seller in the world for the first time. According to a media report, BYD managed to register 3,54,000 units of EV sales globally, marking a 266% annual growth. This allowed the Chinese carmaker to overtake Tesla, whose global EV sales during the same period stood at 2,54,000 units.

A report from Counterpoint's Global Passenger Electric Vehicle Model Sales Tracker also states that the year-on-year sales of pure EVs increased by 61% globally, accounting for 2.18 million units in Q2 2022. Of this, BEVs accounted for 72%, while the remaining sales came from PHEVs. The report also stated that China topped the market leaderboard accounting for 1.24 million units - a 92% annual growth, followed by Europe and US.

The dip in sales of Tesla was attributed to the semiconductor shortage and the pandemic. However, the second half of 2022 is expected to deliver better results.

China's Wuling brand was ranked third in the global EV sales, with its Hongguang Mini EV becoming the best-selling model in the Chinese market. BMW secured fourth place in the global EV sales chart, thanks to its X3 and i series. Volkswagen occupied the 5th place after registering just a 1% year-on-year increase.

Source: Financial Express