The electric car market is booming, with sales reaching new heights every year. But which manufacturers are leading the way in this fast-growing segment? Here are the world's top 10 electric car makers in 2023, based on their sales figures and market share.
1. Tesla
Tesla is the undisputed king of electric cars, with a global market share of 23% in 2023. The US-based company sold over 3.2 million electric cars in 2023, up 35% from 2022. Tesla's success is driven by its strong brand image, innovative technology, and loyal customer base. Tesla's Model 3 was the best-selling electric car in the world in 2023, followed by the Model Y and the Model S. Tesla also launched its Cybertruck and Tesla Roadster models in 2023, attracting more attention and demand.
2. BYD
BYD is the second-largest electric car maker in the world, with a market share of 15% in 2023. The Chinese company sold over 2.1 million electric cars in 2023, up 40% from 2022. BYD's growth is fueled by its dominance in the Chinese market, where it has a strong presence in both passenger and commercial vehicles. BYD's Han was the best-selling electric car in China in 2023, followed by the Qin and the Tang. BYD also expanded its presence in Europe and Latin America, offering competitive prices and quality products.
3. Volkswagen
Volkswagen is the third-largest electric car maker in the world, with a market share of 12% in 2023. The German company sold over 1.7 million electric cars in 2023, up 45% from 2022. Volkswagen's rise is attributed to its massive investment in electrification to become a global leader in sustainable mobility. Volkswagen's ID.4 was the best-selling electric car in Europe in 2023, followed by the Volkswagen ID.3 and the Golf. Volkswagen also launched its Volkswagen ID.Buzz and ID.Vizzion models in 2023, targeting different segments and regions.
4. Renault-Nissan-Mitsubishi
Renault-Nissan-Mitsubishi is the fourth-largest electric car maker in the world, with a market share of 10% in 2023. The alliance sold over 1.4 million electric cars in 2023, up 30% from 2022. Renault-Nissan-Mitsubishi's performance is based on its diversified portfolio of electric cars, covering various markets and customer preferences. Renault's Zoe was the second-best-selling electric car in Europe in 2023, followed by Nissan Leaf and Mitsubishi Outlander PHEV. The alliance also introduced its Nissan Ariya and Megane E-Tech models in 2023, enhancing its product range and appeal.