Tesla, Warren Buffett-Backed BYD Drive Q2's 39% Spike In Global BEV Sales — Followed By A Little-Known Chinese Challenger
Portfolio Pulse from Anan Ashraf
In Q2, global sales of battery electric vehicles (BEVs) surpassed 2.15 million units, a 39.3% YoY increase. Tesla and Warren Buffett-backed BYD led the market with shares of 21.7% and 16.2% respectively. GAC Aion secured the third spot with a 6% market share. When combined, Volkswagen and Audi outweigh GAC Aion in terms of market share. Other key players include General Motors, SAIC Motors, Wuling, Hyundai, BMW, Mercedes-Benz, and Kia. The quarter also saw the sale of 876,000 plug-in hybrids, with BYD leading with a 36.5% market share.

August 18, 2023 | 6:24 am
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POSITIVE IMPACT
BYD, backed by Warren Buffett, followed Tesla closely in the global BEV market with a 16.2% share and led the plug-in hybrid market with a 36.5% share.
BYD's strong position in both the global BEV and plug-in hybrid markets indicates robust sales and revenue potential, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla led the global BEV market in Q2 with a 21.7% share.
Tesla's leading position in the global BEV market indicates strong sales and revenue potential, which is likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
When combined, Volkswagen and its brand Audi outweigh GAC Aion in terms of BEV market share.
The combined market share of Volkswagen and Audi in the global BEV market indicates strong sales and revenue potential, which is likely to positively impact Volkswagen's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80