Global BEV Market Share: Tesla Retains its #1 Spot for 2023

What we’re showing

Global BEV market share for the full year 2023, based on figures compiled by TrendForce.

BEV refers to “battery electric vehicle”, also known as fully electric. This differs from PHEVs (plug-in hybrid electric vehicles), which still have a combustion engine.

BYD likely to beat Tesla in 2024

Analysts expect China’s BYD to surpass Tesla in BEV sales for 2024, given that BYD already outsold Tesla in the fourth quarter of 2023 (526,000 compared to 485,000).