Tesla, BYD, Toyota and Mercedes-Benz emerged as the big winners in the global automotive industry last year, as China extended its position as the dominant market for new vehicle sales.
The Tesla Model Y proved perfect for exploiting the growing global demand for family-friendly electric transport, while Chinese giant BYD had three models in the global EV top 10 – a better result than any European firm recorded. “The Model 3 lost its crown to the Model Y because the latter is an SUV and what most of the customers, even in the EV market, are looking for,” says Felipe Munoz, senior analyst at Jato Dynamics.
