Felipe Munoz, an Automotive Industry Specialist at JATO, recently noted that the Model Y appears to have led the world sales ranking of passenger cars in the first quarter of 2023. Tesla Model Y sold 267,200 units in the first quarter of 2023, up about 69% year-over-year. The Model Y performed particularly well in key markets such as China, the United States, and Europe. The Toyota Corolla, on the other hand, appears to have sold 256,400 units in the same period. the Corolla’s sales appear to have seen a 29% decline in China and a 10% drop in the United States.
The Global car sales trends:
* Electric cars are seeing rapid growth of about 70% per year
* SUV market share increased from 39.7% to 41.3%
* The Tesla Model Y is the top selling car model in the world
* non-electric cars are disappearing the fastest in China
* Japanese carmakers lost about 30% of their China sales in Q1 2023
* China is the number one car exporter in the world with over 1 million cars exported in Q1 2023
* Japan and Germany now trail China in car exports
According to JATO Dynamics data, 79.4 million new vehicles were registered globally in 2022 marking a 2% decrease on the 80.7 million units registered in 2021.
Sales of SUVs increased by 2.3% to a record 32.8 million units. The global market share for these vehicles jumped from 39.7% in 2021 to 41.3%.
SUVs saw the fastest growth in Europe, with a market share increase of 4.3 points, reaching a new record of 43% of all light vehicle sales – the second highest globally. In North America, SUV sales accounted for 54% of total light vehicle sales, while in China these vehicles represented 41% of the market.
In 2022, the majority of these vehicles sold worldwide were compact SUVs, with a total of 15.6 million units. Sales of small SUVs reached 7.6 million units, followed by midsize SUVs at 5.05 million units, and luxury SUVs at 4.5 million new sales.
In 2022, the total volume of battery electric vehicles (BEVs) surged by 66% to a total of 7.37 million units – a year on year increase of 2.9 million units. This exceeded the increase of 2.4 million units seen between 2020 and 2021. Last year, the global market share for BEVs jumped from 5.5% in 2021 to 9.3%. Regionally, only China and Europe secured a double-digit share of the market with 15.6% and 12.2% respectively.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
It would be cool if you did a blog post and a video about all the predictions that Elon made that came true .
that guy is maybe sometimes late, but he usually always delivers and that would be a cool video blog post to share with others to show that you should not bet against Elon and don’t doubt it
those commie battery cars took our jeeerbs
Good chance I drink a Bud Light sooner than I buy an Electric Vehicle.