Electric vehicle sales globally by model 2022

The Tesla Model Y was the world’s most popular plug-in electric vehicle with worldwide unit sales of roughly 771,300 in 2022. That year, deliveries of Tesla's Model 3 and Model Y have surpassed 1.2 million, which was a year-over-year increase of 36.77 percent for Tesla's best-selling models.

Competition increases in electric vehicle manufacturing

While two out of the five best-selling plug-in electric vehicle (PEV) models were Tesla-branded, the battery electric vehicle manufacturer faced competition from Asian brands in 2022. China-based BYD overtook Tesla as the best-selling PEV brand that year, relying on a large offering of plug-in hybrid electric models. The Volkswagen ID.4 was the only European PEV model in the top ten.

Technology drives automotive electrification

Electric vehicles are growing in popularity. Consumers have become more interested in plug-in electric vehicles following important technological developments. Technology has significantly increased the range of electric vehicles and public charging infrastructure, meaning that plug-in vehicles are becoming more accessible and practical. However, while technological advances have contributed to the success of the market, the lack of public awareness surrounding electric vehicles, range anxiety and the geographical distribution of charging infrastructure could lower demand.