Top Performers and Lagging Brands Revealed in Electric Car Market

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

According to a report from the International Council on Clean Transportation (ICCT) released this Thursday, 21 of the world's largest vehicle manufacturers' electric vehicle (EV) plans and offerings were evaluated. The findings depict a dynamic landscape where some carmakers are making remarkable strides while others struggle to keep up.

Significant advancements have been made by companies such as Mercedes-Benz and MG, showcasing their capabilities in the low-emission transport sector. However, familiar brands like Mazda, Honda, and Nissan are facing challenges, slipping further down the rankings compared to their peers.

This report aligns with recent developments in Australia, where new fuel-efficiency standards were passed into law, intending to drive automakers towards greater adoption of low-emission models from the next year. Australia’s elevated focus on electric vehicles could elevate the country’s standings in future comparisons.

The ICCT conducted its Global Automaker Rating 2023 by examining the strategic vision, market presence, and technological achievements of 21 prominent automotive manufacturers. While Tesla secured the top spot with robust sales, BYD, despite lower purely electric vehicle sales, remains close behind with a strong portfolio that includes many plug-in hybrids.

BMW secured third place, and Mercedes-Benz's climb to the fourth rank was noteworthy, partly owing to its innovative recycling and repurposing of EV batteries. The Chinese company SAIC, which oversees the MG brand, achieved the fifth position with commendable growth in electric vehicle sales.

On the other end of the spectrum, brands from Japan and India didn't fare as well. Suzuki, Mazda, and Nissan occupied the lowest ranks, with Suzuki being the least impressive contributor to the zero-emission vehicle market according to the study’s criteria. These brands, while showing increased electric vehicle sales, didn’t offer a broad range of low-emission models or managed high energy consumption, contributing to their lower scores.

Stephanie Searle, ICCT's chief program officer, emphasized the critical nature of these rankings. She believes nearly all passenger vehicles must transition to zero-emission models by 2035 to mitigate global warming effects. "Automakers lagging in technology investment could find themselves overtaken by more forward-thinking competitors," she stated.

Global momentum is also influenced by rigorous transport regulations in Europe, the UK, US, and Canada, where electric vehicle sales are expected to surge rapidly in the upcoming years. Notably, there was a 40% global increase in EV sales between 2022 and 2023, with Australia seeing a dramatic rise of 161% from a lower base compared to other nations.

Starting January next year, the Australian government plans to implement a New Vehicle Efficiency Standard. This new policy will set emission limits for vehicle brands, including passenger and commercial vehicles, potentially transforming the market landscape in the country.

This article references findings from an original report by the International Council on Clean Transportation (ICCT).

Published:Friday, 31st May 2024
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Clear

Delays in Australia's Strategic Fleet Raise Maritime Security Concerns

16 Mar 2026: Paige Estritori

The Australian government's plan to establish a strategic fleet of Australian-flagged ships has encountered delays, raising concerns about the nation's maritime resilience and security. The initiative, designed to bolster Australia's shipping capabilities and provide vessels for crises, emergencies, or defence support, has missed its initial deadlines, prompting industry experts to highlight growing vulnerabilities in trade and national security. - read more

First Home Buyer Loans See Significant Uptick with Government Initiatives

15 Mar 2026: Paige Estritori

Recent data from the Australian Bureau of Statistics (ABS) indicates a notable increase in first home buyer loans, with a 6.8% rise in the December quarter of 2025, totaling 31,783 new loans. This marks the most substantial growth since late 2023 and reflects the effectiveness of recent government interventions aimed at assisting first-time buyers. - read more

Victorian First Home Buyers Drive National Market Growth

15 Mar 2026: Paige Estritori

Victoria has emerged as a frontrunner in Australia's first home buyer market, accounting for nearly one-third of the nation's new first home buyer loans. In the December 2025 quarter, the state experienced a 3.5% increase in these loans, totaling 10,283. This growth reflects the effectiveness of recent government initiatives and the resilience of Victorian buyers amid a dynamic housing landscape. - read more

5% Deposit Scheme Drives Significant Uptake Among First Home Buyers

15 Mar 2026: Paige Estritori

The federal government's 5% Deposit Scheme, launched on October 1, 2025, has experienced a remarkable 75% increase in uptake, with 22,921 guarantees issued in the four months following its implementation. This surge underscores the scheme's effectiveness in facilitating homeownership for first-time buyers across Australia. - read more

Australian Share Market Suffers $120 Billion Loss Amid Middle East Unrest

14 Mar 2026: Paige Estritori

Recent developments in the Middle East have had a profound impact on global financial markets, with Australia's share market experiencing significant losses. Over the past week, the S&P/ASX200 index declined by 1%, resulting in a $120 billion reduction in market capitalisation. This downturn marks the most substantial weekly loss since April 2025. - read more

Click for more Finance News