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.
Global powerhouses Toyota and Mercedes both scored major successes last year.
