The rise of small EVs is finally happening Global plugin vehicle registrations were up 41% in July 2023 compared to July 2022, rising to 1,104,00 units. In the end, plugins represented 16% share of the overall auto market (11% BEV share alone). This means that the global automotive market is firmly in the Electric Disruption […]
were up 41% in July 2023 compared to July 2022, rising to 1,104,00 units. In the end, plugins represented 16% share of the overall auto market . This means that the global automotive market is firmly in theone quarter of global registrations having some form of electrification!Full electric vehicles represented 69% of plugin registrations in July, keeping the year-to-date tally at 70% share.Looking at July best sellers, there were no surprises on the podium.
Elsewhere, another city car is highlighting the new “rise of small EVs” trend happening right now, with theChangan Lumin reaching #14 with a record 15,282 registrations thanks to a recent refresh. A somewhat larger proposition, but still in the “compact” category, the #16 VW ID.3 had a year best result, 13,388 registrations, thanks to Volkswagen’s Chinese operations. The model benefitted from a significant price cut, allowing it to jump into record territory.
Kia EV6 reached 9,095 registrations, all in the same month that its cousin, the Hyundai Ioniq 5, also had a record month. Coincidence? Or is the Korean OEM increasing the production rate of its E-GMP models? If that was the case, it would come at a really good time, now that theHyundai Ioniq 6 is still ramping up. Also, the Kia EV9 large SUV is about to start exports and the promising Kia EV5 looks to land with a bang later this year.
And speaking of those recent city cars, the only models climbing in the table in July were small-to-compact EVs, which gives hope that small and efficient EVs will play a leading role in a future BEV-based automotive market, and that the roads won’t be just made of oversized and obese machines . The middle of the table saw Koreans Kia and Hyundai score record results. That was thanks to good results from the Ioniq 5 & 6 in the case of Hyundai, and the Niro, EV6, and EV9 in the case of Kia.
Li Auto’s rise has been paused, staying in 7th, but expect the Chinese brand, without a doubt the hottest startup brand in 2023, to continue shortening the distance to #6 Mercedes.
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