SGMW is the top 6 biggest EV''s Brand in the world

In the first 10 months of 2023, the SGMW joint venture continues to be one of the top six electric vehicle manufacturers globally in terms of sales volume.

SGMW maintains its position among the top 10 global electric vehicle manufacturers

In 2023, electric cars are predicted to reach approximately 14 million units, accounting for about 18% of the global electric vehicle market. This figure is 39% higher than in 2022. According to the Counterpoint Research report, global electric vehicle sales continued to surge impressively, increasing by 29% compared to the same period last year in Q3 2023, with China maintaining its position as the leading global electric vehicle market, growing by 11% compared to Q3 2022. This populous country still holds 58% of the global electric vehicle market.

Global ranking of electric vehicle manufacturing brands from January to October 2023

According to Clean Technica's statistics for the first 10 months, BYD is the world's leading electric vehicle brand with over 2.2 million units sold, featuring a diverse product range, including three models in the top 10 best-selling global electric vehicles: BYD Yuan Plus, BYD Dolphin, and BYD Seagull.

In addition, with over 1.4 million units sold, Tesla maintains its position as the second-best global electric vehicle brand, driven by the popular Tesla Model Y and Tesla Model 3. GAC Aion, a subsidiary of the Guangzhou Automobile Group (GAC), ranks third with around 400,000 units sold, including the GAC Aion S and GAC Aion Y.

Making its presence in the top 10 global electric vehicle brands is the SGMW joint venture, one of the leading electric vehicle brands in China. In the first 10 months of 2023, SGMW sold 350,285 new vehicles, securing the 6th position among the top 10 largest electric vehicle manufacturers globally, surpassing Mercedes, Li Auto, Changan, Geely, and others.

Despite ranking 6th, the SGMW joint venture is noteworthy for having two of the world's best-selling electric vehicles: Wuling Mini EV with 190,763 units and Wuling Bingo with 116,282 units. While BMW and Volkswagen are brands with more outstanding sales performance than SGMW, neither has any electric vehicle models in the global sales ranking. Specifically, BMW holds the 4th position but lacks any best-selling electric vehicle models, and Volkswagen only has the VW ID.4 in the 9th position in the first 10 months of 2023.

Furthermore, in October 2023 alone, SGMW was the world's third-best-selling electric vehicle brand with 54,921 units sold, following BYD (289,588 units) and Tesla (115,055 units).

Global electric vehicle sales ranking from January to October 2023

According to Clean Technica, from January 2023 to October 2023, the Mini EV, a small electric vehicle from the SGMW joint venture, is among the top 10 best-selling electric vehicles. In the mini electric car segment, the SGMW joint venture's Mini EV remains the best-selling electric vehicle globally. This once again confirms the position and appeal of the Mini EV to a global user base, consistently topping the world rankings for over three years since its launch in June 2020.

Mini EV, a product of the SGMW joint venture, is the world's best-selling electric vehicle in the mini electric car segment

The latest predictions from S&P Global Mobility Market Analysis Company suggest that the electric car trend will continue to thrive next year. Electric vehicle sales are expected to continue to rise, accounting for approximately 16.2% of market share in 2024. Europe, the United States, China, and India are still expected to be the most promising markets in the electric vehicle sector next year.