The 5 Best-Selling Electric Car Companies In 2022 (BEV+PHEV)

Best-Selling Electric Car Companies In 2022: BYD Auto

In 2022, the price of gasoline reached record highs in many countries and regions due to changes in the international situation that led to sharp increases in oil prices (for example, gasoline prices in the United States reached a record high of $5.05 per gallon on average). So, many drivers felt uneasy about the cost of their pure gasoline vehicles, which encouraged more consumers to choose electric vehicles (including PHEVs).

In 2022, more than 10 million (total of BEVs+PHEVs 10,091,164 ) electric vehicles were sold worldwide, accounting for 14 percent of the global total vehicle sales. According to data from a report, the Chinese and European markets had the highest penetration rates of electric vehicles--19 percent and 11 percent, respectively.

Which company has the largest electric vehicle market share?

China's BYD—is currently the world's best-selling electric car company!

BEVs+PHEVs

In 2022, China's BYD Auto was a record new creator, selling more than 1.85 million units and capturing 18.4% of the global electric market share. That was a huge leap from 2021 when BYD sold just under 870,000 cars--and it's worth noting that BYD's biggest advantage is plug-in hybrids (PHEVs), not battery electrics (BEVs).

Tesla previously ranked first in global electric vehicle sales four years in a row (2018-2021), but it dropped to second place in 2022 behind BYD by more than 500,000 cars. However, Tesla still ranks first globally in the BEV segment.

The 5 Best-Selling Electric Car Companies In 2022 (Ranked by BEV+PHEV)
Rank	Company	Units Sold	Market Share
#1	BYD Auto	1,857,549BEVs+PHEVs	18.4%
#2	Tesla	1,314,330BEVs	13.0%
#3	Volkswagen AG	831,844BEVs+PHEVs	8.2%
#4	SAIC Motor	724,911BEVs+PHEVs	7.2%
#5	Geely	606,114BEVs+PHEVs	6.0%
	Total	11,091,164	100%

Volkswagen Group also dropped one spot to third place in the electric vehicle market in 2022. In 2022, 831,000 of its electric vehicles were sold, and its market share was 8.2 percent (compared with 11.7 percent a year earlier).

Following behind were SAIC Motor (724,911 units, 7.2%), Geely (606,114 units, 6.0%), Stellantis ( 4.7%), and Hyundai Motor Group (4.6 percent).

BEVs

When it comes to sales of pure electric vehicles, the top five manufacturers are slightly different, as Tesla--whose business is focused on BEVs--is far ahead of everyone else. The company delivered more than 1.3 million electric vehicles in 2022, representing 18.2 percent of total global pure electric vehicle sales for that year. However, that's down five percentage points from 2021, suggesting that Tesla is expanding more slowly than the industry.

Byd sold 913,052 pure electric vehicles (BEVs) in 2022, accounting for 12.6 percent of the segment. Though it's unlikely that Byd will overtake Tesla this year, the company is still racing to catch up with its American rival.

The 5 Best-Selling Electric Car Companies In 2022 (Ranked by BEV)
Rank	Company	Units Sold	Market Share
#1	Tesla	1,314,330BEVs	18.2%
#2	BYD Auto	913,052BEVs	12.6%
#3	SAIC Motor	671,725BEVs	9.3%
#4	Volkswagen AG	517,067BEVs	7.9%
#5	Geely	383,936BEVs	5.3%
	Total	7,233,136	100%

BYD is a strong competitor of Tesla in the field of pure electric vehicles. Although it trailed Tesla by nearly 400,000 units in 2022, BYD will speed up its pace of surpassing Tesla once it builds sales outlets in the global market.