BYD and Geely dominate Israeli electric vehicle market, accounting for 46.6% of sales in 2023

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4th December 2023 – (Jerusalem) According to the Israel Vehicle Importers Association, two major Chinese car brands, BYD and Geely, have emerged as frontrunners in the Israeli electric vehicle (EV) market, capturing an impressive 46.6% share of gross sales in the country during the first 11 months of 2023.

Leading the EV sales chart from January to November, BYD sold a total of 14,948 electric units in Israel. The majority of these sales were attributed to the subcompact crossover SUV, Atto 3. Meanwhile, Geely secured the second position by selling 6,884 units of their popular Geometry C compact crossover.

In third place, U.S. electric automaker Tesla made a significant impact with the sale of 6,334 electric cars. Notably, South Korea’s Hyundai Motor followed closely behind, having sold 4,408 electric cars during the same period.

In terms of overall numbers, Chinese electric cars dominated the Israeli market, with a total of 25,837 units sold in the first 11 months. This accounted for an impressive 55.1% share of the 46,854 EVs sold in the country during that time frame.

Among gasoline-powered cars, Chery Automobile, a Chinese automaker that recently entered the Israeli market in late 2022, made a strong impression. Achieving the sixth position, Chery sold an impressive 11,003 cars during the first 11 months.

The dominance of BYD and Geely in the Israeli EV market reflects the growing popularity and acceptance of Chinese electric vehicles globally. With their continued focus on innovation, affordability, and environmentally friendly transportation solutions, these brands have managed to capture a significant share of the market.

Israel’s increasing adoption of electric vehicles is driven by several factors, including government incentives, a robust charging infrastructure, and a strong commitment to reduce greenhouse gas emissions. These factors have created a favourable environment for electric vehicle manufacturers to thrive in the country.

As the electric vehicle market continues to evolve, competition among automakers is expected to intensify. Established players like Tesla and Hyundai will face increasing pressure from Chinese manufacturers as they continue to expand their presence and launch new models in Israel and other global markets.