Tesla and BYD are the global battery electric vehicle sales leaders
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Battery electric vehicle sales are up 75% globally on a year-to-date basis to smash the growth rate in the overall automobile market.
No huge surprise, but it is Tesla (NASDAQ:TSLA) that is the global market leader in battery electric vehicle sales for the first seven months of the year.
Tesla's (TSLA) YTD BEV sales stood at 616,456 units through July 31 for 16% market share to outpace BYD Auto (OTCPK:BYDDF) with 407,353 units sold for 11% market share and General Motors (GM) with 306,980 units sold and 8% market share. The other market share leaders were Volkswagen (OTCPK:VLKAF) at 7%, Hyundai (OTCPK:HYMLF) at 6%, Stellantis (STLA) +4%, GAC at 3%, Renault/Nissan/Mitsubishi at 3%, SAIC at 3%, and Geely Automotive (OTCPK:GELYF) at 3%.
Per data from Morgan Stanley, the top-selling BEV models in the world so far this year are the Tesla (TSLA) Model Y, the Wuling (OTCPK:WLMTF) HongGuang Mini BE, the Tesla Model 3, the BYD Dolphin, and the BYD Han. Showing some recent momentum, Ford's (F) Mustang Mach-E came in ninth place for the month of July. The Detroit automaker is on a pace to top 100K overall BEV sales this year.
Of note, BEV sales in China were up 99% in July as supply chain pressures eased a bit from a few rough months. The BEV penetration rate in China is up to 18.9% from 13.4% a year ago.
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