SGMW continues to be among the top global electric vehicle manufacturers in 2023.
Global Electric Vehicle Manufacturer Rankings from January to November 2023. Source: Clean Technica
According to Clean Technica's report for the period from January to November 2023, BYD leads the rankings in electric and hybrid vehicle sales, contributing 2,556,504 units sold. Tesla follows in second place with sales of 1,613,465 units. BMW, GAC Aion, and Volkswagen hold the third, fourth, and fifth positions with sales of 439,868, 439,501, and 426,792 units, respectively. SGMW (SAIC - General Motors - Wuling) is ranked sixth, achieving 405,635 electric vehicle sales, capturing a 3.3% global market share. In November 2023 alone, SGMW stood as the third-largest electric vehicle manufacturer globally. In the previous month, October 2023, SGMW also maintained its position as the third-best-selling electric vehicle brand worldwide.
Wuling Mini EV – SGMW's compact electric car, ranks among the top 10 best-selling electric cars globally.
Notably, despite being in the sixth position among the world's largest electric vehicle manufacturers, SGMW possesses one of the top 5 best-selling electric cars globally in the first 11 months of 2023, which is the Wuling Mini EV, following Tesla and BYD models. In contrast, even with more prominent sales achievements than SGMW, BMW, GAC Aion, and Volkswagen do not have any products in the top 5. It is evident that the Wuling Mini EV continues to be a strategic product for SGMW, and global consumers trust and choose it, despite being on the market for over 3 years.
(Source: Clean Technica)
Market research company Canalys reports that the global electric vehicle sales are expected to reach 13.7 million units by 2023. China remains the largest market with around 7.6 million units, equivalent to a 55.5% share of the global electric vehicle market. Europe follows with 3.2 million units, and North America with 1.8 million units.
Canalys predicts that the global electric vehicle market will grow by 27.1% and reach 17.5 million units by 2024. With a focus on sustainable development, it is expected that electric vehicle sales in China will reach 9.1 million units, accounting for 40% of the total light vehicle sales in the country by 2024. In Europe, the light vehicle market will maintain a growth rate of 2-3%, with electric vehicles holding a 24.2% market share, reaching 3.9 million units. The electric vehicle market in North America is also expected to grow by 26.8% to 2.2 million units. In 2024, the electric vehicle product line will expand, including mini cars, large SUVs, and electric pickups. Manufacturers are accelerating efforts for localization to boost consumer demand by introducing electric vehicle models tailored to regional and market preferences.
