Surprising new car sales trend shows the big players are falling behind

AutoExec Summary

Sales of electric vehicles are increasingly dominated by young Chinese brands such as Tesla, BYD, and BAIC, which have been producing cars for less than 30 years. In the first seven months of 2019, Tesla led with over 183,000 sales, while traditional giants like Toyota and Volkswagen lagged behind with only 75,784 combined sales. The demand for EVs is primarily driven by China, where incentives have made EVs a significant portion of vehicle sales, contrasting sharply with Australia’s low uptake.

Brands mentioned: Tesla, BYD, BAIC, SAIC, Geely, JAC, Chery, Great Wall, Changan, Dongfeng, Toyota, Volkswagen, Chevrolet, BMW, Nissan