BYD Sells More Electric Cars Than Tesla

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BYD has finally succeeded: it has become the world’s leading automobile manufacturer in terms of sales. Already, Elon Musk is stepping down from his throne and handing over the sceptre to the Chinese group. You’re here must settle for second place.

The American company exceeded expectations with a record fourth quarter of 484,507 cars delivered (including 461,583 Model 3 And Model Y and approximately 23,000 Model S And Model X ) against the 483,173 forecast by analysts. This allows it to remain in first place in the 2023 rankings, but not in what the Americans call Q4 (October-December).

2023 is still the year of Tesla

BYD sold a total of 526,409 cars of zero emissions during the last three months of the year. To do this, the brand exploited two main factors: a wider range, with models that are much more affordable than those of You’re Here and sales in its own country, by far the largest in the world.

BY D ACT 3

BYD ATTO 3: the best-selling electric car in Europe

In 2023, BYD sold a total of 3.02 million electrified cars, including 1.4 million “plug-in” cars and just over 1.6 million 100% electric cars. Tesla, on the other hand, exceeded the target of 1.8 million cars set at the beginning of the year.

Sales fourth quarter 2023 Annual sales 2023
You’re here 484 507 >1.8 million
BYD 526 409 >1.6 million

What will happen in the future

The excess during the last quarter was announced. BYD’s growth is impressive, and the company continues to expand by constantly seeking new markets. BYD shows growth of more than 70% from one year to the next and has no plans to slow down.

Tesla Model 3 (2023)

In September, Tesla restyled the Model 3, which, along with the Model Y, represents 95% of the brand’s sales

Tesla will also continue its growth, both by taking advantage of the general increase in demand for electric cars around the world and with the launch of the Cybertruck. Tesla’s contribution will, however, be marginal (at least initially) given the lackluster production rates.

In summary, Tesla plans to sell 2.2 million of cars in 2024, i.e., a growth rate of 22% (lower than 38% in 2023). With these numbers, it’s easy to think that BYD will maintain the lead throughout the year that has just begun.

Things could change in 2025, when in addition to the full-fledged Cybertruck, Tesla is expected to release the Model 2 a car destined to do big numbers. But next year, the competition will certainly not sit idly by.

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