The Tesla Model Y is #1 again in the electric vehicle market. Registrations were up 10% year over year (YoY) in January, to over 662,000 units. China’s market was the main driver of growth. Share-wise,
Share-wise, 2023 started with plugin vehicles getting 11% share of the global auto market . While this is below last year’s final mark of 14% , we should remember that this January is a hangover month in a number of markets, most notably in China, where EV subsidies ended at the end of December, but also in Germany, another major market, where BEV subsidies were reduced and PHEV subsidies were removed altogether.
In the last spot of the podium, the Tesla Model 3 also had a great month, starting the year two positions above its #5 position of January 2022. It will be interesting to see how much of a kickback the upcoming refresh will have on Model 3 demand. Let’s not forget that the sedan was on a downwards trend in 2022….
Outside the top 20, a reference goes out to the #22 Audi Q4 e-tron, which ended the month just 21 units behind the #20 VW ID.3. We could see the compact Audi showing up in the top 20 soon.January saw BYD win the monthly manufacturer title, thanks to 143,000 registrations, ending with a comfortable lead of over 40,000 units over runner-up Tesla.
On the one hand, Tesla will have Giga Texas and Giga Berlin ramping up, with demand increasing thanks to the price cuts and the refresh of the Model 3 .
In the Chinese EV startup sector, the current star is Li Auto, ending the month in 10th with over 15,000 registrations. With the brand still focused on growing in the full size category Also in the USA, another make on the rise is Jeep, #18 in January thanks to 9,235 registrations. It beat #20 Peugeot and became the best selling Stellantis brand! With US EV incentives being quite generous to PHEVsJust outside the top 20, we have #21 Toyota, with 7,895 registrations, once again knocking at the door of the best sellers table. Benefitting from the added volumes of the BZ4X , the Japanese automaker is expected to jump into the top 20 soon. The thing is, we have been here before.
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