With two months left in the year, the race to be one of the biggest electric vehicle companies by units sold heats up. Here’s a look at the top five companies globally.
What Happened: Electric vehicle company Tesla Inc (NASDAQ: NASDAQ:TSLA) reported record revenue in the third quarter and saw production and delivery figures rise.
Tesla ranked as the top battery electric vehicle company from January to September, according to new data shared by CleanTechnica.
Here are the rankings:
Tesla: 909,042 units, 18.5% market share (19.0% end Q2)
BYD: 584,225 units, 11.9% (11.0% end Q2)
SAIC: 482,717 units, 9.8% (10.8% end Q2)
Volkswagen (ETR:VOWG_p): 366,113 units, 7.4% (7.3% end Q2)
Hyundai-Kia: 247,248 units, 5.05% (5.6% end Q2)
When counting battery-powered electric vehicles and plug-in hybrid vehicles (overall market), Tesla was not the world leader. Instead Chinese auto company BYD Company ADR (OTC: BYDDY), which counted Warren Buffett’s Berkshire Hathaway (NYSE:BRKa) Inc (NYSE: BRKA)(NYSE: BRKB) as an investor, lead the way.
Here are the rankings for January to September:
BYD: 1,175,668 units, 17.3% market share (15.4% end Q2)
Tesla: 909,042 units, 13.3% (13.6% end Q2)
Volkswagen: 545,542 units, 8.0% (8.0% end Q2)
SAIC: 520,887 units, 7.6% (8.6% end Q2)
Geely-Volvo: 389,996 units, 5.7% (5.6% end Q2)
Related Link: Electric Vehicles Hit 35% Market Share In China In September: What Investors Should Know And Who's Winning
Why It’s Important: The lists above show Tesla’s dominance in the battery-powered electric vehicle sector with a commanding lead in 2022 over second place BYD. Tesla lost 0.5% market share from the end of the second quarter to the end of the third quarter, which came with increasing competition.
In the overall electric vehicle market, which counted hybrids, Tesla held the second place ranking. Last year, Tesla was the overall market leader. Tesla lost a 2% market share in the overall electric vehicle market, while BYD gained a 9% market share in over a year. In the battery-powered electric vehicle sector, BYD gained a 5.9% market share over the past 12 months, taking the company from fourth place to second place.
The rankings left out traditional automakers from the U.S. such as Ford and General Motors (NYSE:GM) and were dominated by foreign companies and Tesla.
Volkswagen Group (OTC: VWAGY) stayed the same for the battery-powered electric vehicle in market share percentage, which was good enough to pass SAIC for a third-place ranking. In the overall electric vehicle market, Volkswagen gained a 0.1% market share. Volkswagen lost 4% market share overall in the past 12 months according to the report.
Another potential big loser is Stellantis (NYSE: STLA), which didn’t crack the top five on either list. Stellantis ranked in the top five one year ago and now ranks seventh in the battery-powered rankings with a 4.8% market share, down from 5.6% at the end of the second quarter.
Photo: Courtesy Tesla
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.