US carmaker Tesla remained the largest maker of battery electric vehicles (BEVs) in the most recent quarter, ahead of Chinese EV maker BYD, while General Motors (GM) replaced Ford as the second-largest BEV brand in the US.
Tesla reported 462,890 global sales in the third quarter, up to about 1.29mn BEVs so far this year, slightly down on sales of 1.32mn a year earlier, after sluggish sales in the first half of this year.
BYD has recorded year-to-date sales of about 1.17mn units of BEVs. The company sold 2.7mn new energy vehicles so far this year, including plug-in hybrids (see graph).
In the US, GM posted increased BEV sales, after Tesla's market share slipped to 49.7pc in the second quarter of this year, down steadily from 74.8pc in the first quarter of 2022.
GM sales were up by 60pc on the year and 46pc on the quarter to 32,195 BEVs, despite overall car sales at GM in the third quarter edging down by 2.2pc.
The firm has recently started shipping the Equinox EV, a mid-size SUV, starting at about $35,000 with an estimated 319 miles of range, and for as low as $27,495 with tax credits — making it the US' most affordable EV.
In comparison, the cheapest Tesla Model Y starts at about $37,500 after tax credits, although used models can sell for as low as $25,000.
The US Inflation Reduction Act tax credit of $7,500 off the purchase price of selected US-made EVs has been particularly effective at pushing EV sales, saving US EV buyers more than $2bn so far this year, as of 1 October.
Ford slipped into the US' third-placed BEV brand with 23,509 BEVs sold in the most recent quarter, up by 12pc on the year, but down by 2pc on the previous quarter.
Ford is set to release a new electric pick-up in 2027, but cancelled plans earlier this year to launch a three-row electric SUV as it shifts its focus to smaller, more affordable models, as it looks to keep pace with GM.
