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keyword:Caroline Chen28 result(s)

Press Releases
Global NEV Sales Reached 2.87 Million Units for 3Q22 as BYD Trailed Closely Behind Tesla in BEV Segment, Says TrendForce

2022/11/24

Emerging Technologies

TrendForce’s latest research finds that global sales of new energy vehicles (NEVs), which encompass battery-electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and fuel-cell vehicles (FCVs), rose by 70% YoY to 287 million units for 3Q22 Of the quarterly total, BEV sales accounted for 2147 million units and registered a YoY growth of 75%, whereas PHEV sales accounted for 714,000 units and registered a YoY growth of 57% In the global ranking of BEV brands by vehicle sales for 3Q22, Tesla took first place with 344,000 units While Tesla managed to maintain its market share at 16%, its lead over second-placed BYD in sales figure had narrowed further BYD sold 259,000 BEVs in 3Q22, posting a massive YoY growth of 182% It is also worth noting that the gap between Tesla and BYD in BEV sales has been smaller than 100,000 units for two quarters straight SGMW and Volkswagen respectively stayed at third and fourth in the ranking, showing no change from the previous quarter As for fifth to 10th, TrendForce especially points out that these places were all taken by Chinese brands Looking at the global top 10 BEV brands for 3Q22, MG Motor (that has been acquired by SAIC Motor) and Geometry entered this group for the first time mainly thanks to the robust demand from China Conversely, Hyundai, Kia, and XPeng Motors were pushed out of the top 10 XPeng stated that the deliveries of its new electric SUV G9 would ramp up this October Whether XPeng will remain in the group of top 10 for 2022 depends on its performance in the fourth quarter Turning to the global ranking of PHEV brands by vehicle sales for 3Q22, BYD was at the top with 279,000 units and held a market share of 391% As for other PHEV brands, they still were unable to raise their market shares above 10% even though they posted a QoQ increase in vehicle sales Looking at the two German luxury car brands that are involved in the PHEV segment, Mercedes-Benz rose to second place in the ranking because of a QoQ gain for vehicle sales in both the home market and China BMW saw falling sales for its PHEVs in Europe, so it posted a decline in units and slipped down in the the ranking Chinese brand AITO entered the group of the global top 10 PHEV brands for the first time in 3Q22 and was immediately placed fifth AITO is a brand under Seres and is in close cooperation with Huawei, and its vehicle models feature many technologies from Huawei as well Going forward, the market performances of AITO’s vehicles will actually be an important indicator of Huawei’s progress in the development of an automotive business Moving into 4Q22, TrendForce believes that autumn releases of new vehicle models and year-end promotional activities will be the main drivers of car sales worldwide Consumers have been waiting for new vehicle models or new generations of the existing vehicle models This is one of the reasons why some carmakers saw declining vehicle sales in 3Q22 Therefore, these same carmakers could still get a boost in annual vehicle sales from their performances in the fourth quarter As for the Chinese NEV market, it will stay fairly hot in 4Q22 as car brands operating there continue to provide incentives for vehicle purchases Furthermore, Chinese consumers still want to take advantage of their government’s NEV subsidy program before its termination For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Global NEV Sales Reach 2.19 Million Units in 2Q22, TESLA Market Share Falls to 15.9%, Says TrendForce

2022/08/16

Emerging Technologies

The new car market remained under the shadow of supply chain shortages and the pandemic in 2Q22 but new energy vehicles (NEVs including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) still outperformed gasoline vehicles and maintained positive growth According to TrendForce data, total sales of NEVs in 2Q22 reached 2192 million units, 535% YoY Sales of battery electric vehicles (BEV) reached 1608 million units, 649% YoY, and sales of plug-in hybrid electric vehicles (PHEV) were 580,000 units, 29% YoY In BEV brand rankings, although TESLA still tops the list, its market share has dropped sharply and the company’s single-quarter market share has dropped from 201% in 1Q22 to a new low of 159% Due to the loss of production capacity coming from TESLA's Shanghai plant in April caused by China's lockdown measures and the fact that mass production has yet to begin at TESLA's Berlin plant and Texas plant, capacity allocation has become a headache for Tesla At present, in addition to industriously increasing the mass production capacity of its new plants, Tesla is also upgraded its Shanghai plant in July to increase production capacity However, TrendForce believes that it is becoming increasingly difficult for TESLA to recover greater market share as traditional automakers are narrowing the gap with TESLA including in accelerating vehicle launches, increasing the variety of models, strengthening factory manufacturing capabilities, and accelerating iterations of assisted driving systems Second-ranked BYD has provided a wealth of options in terms of car models and its global market share has risen from 93% in 1Q22 to 112% Chinese brands landed six of the top 10 ranks in 2Q22 due to their huge market advantages Among the top 10 brands that do not rely on China as their most important market are Hyundai and KIA Their primary markets for BEVs are South Korea, Europe, and North America It is worth mentioning that luxury automakers BMW and Mercedes-Benz have climbed to 12th and 14th place after accelerating their transition to BEVs In terms of PHEVs, BYD ranked 1st with sales of 173,000 units in 2Q22 and a market share of 298% Furthermore, in addition to another automaker which focuses on PHEVs, Li Auto, making it onto the ranking, the top 10 also includes MG (acquired by Shanghai Automobile) and LYNK & CO (a joint venture established by Geely Automobile and Volvo), which have taken advantage of booming demand in China’s domestic market Contrarily, PHEVs in the European market have experienced negative annual growth for two consecutive quarters, inhibiting the growth of European brands PHEVs are hybrids that still emit carbon during in use, but are considered a good alternative for reducing carbon emissions in large and high-emission vehicles Jeep, owned by Stellantis, has remained in the top 10 for four consecutive quarters after turning intently to PHEV electric vehicle technology Although many obstacles remain for the production processes of the automotive market, TrendForce expects conditions to gradually improve in 2H22 The growth trend of NEVs will remain unchanged and the overall sales forecast remains optimistic The penetration rate of NEVs in the overall automotive market is expected to reach 13% in 2022 For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
EVs and Charging Industry Poised to Take Off as the World Chases Decarbonization and Net Zero, Says TrendForce

2022/07/18

Emerging Technologies

According to TrendForce research, sales of electric vehicles (EVs) that can be externally charged or refueled such as BEVs, PHEVs, and FCVs are estimated to exceed 25% of global new vehicle sales by 2025 The main driving force in the market comes from accelerated worldwide decarbonization In order to meet the goals of carbon neutrality, nations and corporations will eliminate internal combustion vehicles that are highly dependent on fossil fuels and also major carbon emitters Many industries have ascended along with EVs and charging facilities are one of the largest non-vehicle business opportunities The extensiveness of charging facilities is key to the sustainable growth of EVs in any given country According to TrendForce's observations, national budgetary allocations will accelerate towards supporting the construction of charging facilities and establishing systems and standards In addition, the ratio of chargers per EV has also been separated from evaluation benchmarks based solely on quantity of chargers constructed Instead, proper planning is to be carried out according to different locations and specifications which means there are many developmental aspects of charging facilities worth noting, not just quantity constructed According to TrendForce, the development of charging technology is closely linked with vehicles and facilities including high-voltage fast charging, vehicle-to-grid (V2G), and Plug & Charge, all of which require vehicle and facility collaboration In addition, the imminence of global net zero not only accelerates the production and sales of EVs, it has also focused attention on power sources for supplying EVs Therefore, the use of renewable power generation in charging stations has also become an important trend Taiwan plans to ban the sale of internal combustion vehicles in 2040 and the "pledge to zero-emissions vehicles" signed at the COP26 United Nations Climate Change Conference also aims to achieve zero emissions for new cars and vans worldwide by 2040 and zero emissions in leading markets before 2035 This period will see a surge in the development of the EV and charging industries TrendForce will premiere our webinar "Charging Battle for a Low-Carbon Future, Key Deployment in the Electric Vehicle Industry" at 10:00AM on July 13 (Wednesday) The event will be attended by TrendForce Research Manager Caroline Chen and two industry representatives who will share their experience in the current development, key issues, and future trends related to EVs and extend their perspective into the growth prospects of charging facilities For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Bucking Trends NEV Market Grew in 1Q22 with Global Sales Exceeding 2 Million Units, Says TrendForce

2022/05/16

Emerging Technologies

According to TrendForce data, total sales of new energy vehicles (NEVs including battery electric vehicles, plug-in hybrid electric vehicles, and fuel cell vehicles) in 1Q22 was 2004 million units, an annual growth rate of 80% Battery electric vehicles (BEV) demonstrated the strongest growth with sales reaching 1508 million units Plug-in hybrid electric vehicles (PHEVs) sold 493,000 units Growth in NEV sales did not come easy, as global auto market sales (regardless of powertrain type) fell by 7% YoY in 1Q22 due to factors such as the chip shortage, Russian-Ukrainian war, and China's pandemic lockdown and prevention measures In terms of BEV brands, Tesla’s sales in 1Q22 exceeded 310,000 units, ranking first with a market share of 205% Chinese automaker BYD ranked second with 143,000 units and a market share of 95% BYD announced in April that it would stop producing fossil-fueled vehicles and transform fully into a NEV manufacturer Its BEV sales rose sharply by 271% in 1Q22 compared to the same period last year Wuling, a subsidiary of SAIC-GM, has been ranked second since the launch of the Wuling Hongguang MINI in 2020 but dropped to third place in 1Q22 The main contributor to this was the multitude of models positioned as miniature and low-priced launched in the past year such as the Chery Ant and Changan Benben As similar products arrived on the market, sales competition hindered growth In terms of PHEVs, BYD once again broke its quarterly sales record Sales volume in 1Q22 reached 142,000 units, with a market share of 288% As more PHEV models gradually appear in the market, it has become increasingly more difficult to capture a large market share It is worth noting that the sales volume of PHEVs in the European market was lower in 1Q22 both when compared with the same period last year and when compared to 4Q21, affected the performance of some European brands TrendForce expects that most automakers will adopt a strategy of prioritizing the production of EVs Therefore, continued growth in the sale of NEVs is expected in 2022 However, automakers will be under greater cost pressure this year In particular, the Russian-Ukrainian war has greatly increased the cost of power batteries This has caused automakers to increase their prices Some countries including China will withdraw car purchase subsidies which dampens the market for low-priced mini-cars that previously supported the rapid growth of NEVs Factors such as global inflation will become variables in the future growth momentum of NEVs For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

Press Releases
Russian-Ukrainian War Rages On, Affecting Renault, Hyundai, and Volkswagen, Says TrendForce

2022/03/23

Emerging Technologies

Due to the Russian-Ukrainian war, automotive factories currently located in Russia have shut down successively and stopped importing vehicles, TrendForce asserts In addition, Russia has stated that if foreign-funded enterprises choose to permanently suspend business or withdraw from the market during this period, the Russian government will nationalize their business assets Most automotive brands have factories in Russia and now face the dual pressures of international public opinion and corporate losses According to TrendForce investigations, after Renault-Nissan acquired the Russian brand LADA, its market share reached 32%, making it the largest automotive brand in Russia followed by Hyundai-Kia at 23% and Volkswagen at 12% According to TrendForce, since Renault is the largest shareholder of local automaker AVTOVAZ and Russia is the company's second largest market, whether AVTOVAZ is nationalized or sales are lost, the overall impact on Renault cannot be underestimated In addition, even if production can continue, the depreciation of the ruble will greatly increase the cost of importing components Soaring costs not conducive to automotive industry recovery The large number of components and the long supply chain inherent in the automotive industry makes mitigating geopolitical risk difficult Almost all international or regional events will affect the normal operation of this industry The Russian-Ukrainian war will not only affect automaker assets, supply chains, sales, and revenue in Russia and around the world in the short term but, in the long term, geopolitics will influence business planning, competiveness, and technology options More broadly, geopolitical and economic conflicts are derailing automakers' plans to recover from the pandemic and chip shortages According to TrendForce, there are three major factors impeding the recovery of the automotive industry and these factors will further affect automobile sales in 2022 First, the production of vehicle components in Ukraine has halted, affecting the production of complete vehicles Volkswagen indicated that it intends to move production capacity to North America and China due to the shortage of vehicle wiring harnesses Second, Russia produces various upstream raw materials such as nickel and palladium for vehicle manufacturing Due to supply constraints, various costs have risen sharply and some car manufacturers have begun to increase the price of complete vehicles Third, inflationary pressures have risen sharply, leading to rising costs of living and a reduction of consumer spending power For additional insights from TrendForce analysts on the latest tech industry news, trends, and forecasts, please visit our blog at https://insidertrendforcecom/

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