[RahulNagaraj]

According to reports, Chinese carmaker BYD has beaten Tesla to take over the title as the world's largest electric vehicle automaker by volume. In Q4 2023, the Chinese carmaker registered 5,26,400 units of all-electric vehicle deliveries compared to Tesla's 4,84,500 units.

Tesla CEO, Elon Musk, had laughed off BYD as competition - has gradually grown to become one of the biggest players in the global electric vehicle segment.



The Chinese carmaker's takeover was inevitable, considering its home market has 1 billion more people than Tesla's home market. Also, BYD offers a much wider range of models at different price points, with most of the popular offerings being at the lower end of the cost range.

Having said that, Tesla did manage to deliver more BEVs over the full 2023 calendar year - 1.8 million units, in comparison to BYD's 1.6 million units. However, looking at the current trend, this could change in 2024.

Source: Electrek

Link to Team-BHP news

[volkman10]

Tesla is the world's largest BEV manufacture in 2023.

In 2023, Tesla sold 15% more electric cars than BYD. Here's how and why.

BYD, unlike Tesla, also makes other vehicles that are not fully electric. In addition to the well-known zero-emission cars, the company also offers a large number of plug-in hybrids. Adding up both categories, BYD sold 3.02 million "new energy vehicles," as the brand puts it, in 2023.
This is obviously a much larger number of units than the 1.81 million vehicles Tesla delivered in the same period.
However, BYD's detail indicates that it has sold 1.44 million plug-in hybrids and 1.57 million all-electric cars. Therefore, Tesla's total is still 15% higher than BYD's.

Who has the growth potential?

While Tesla posted a good 38% increase compared to its 2022 results, its Chinese rival's sales increased by 73%. The difference in growth rates shows that the American brand is moderating its growth and reaching a peak.

BYD, on the other hand, is finally taking off not only in the local market but also abroad. With a more complete range that includes 14 different electric models belonging to the A, B, D, E segments and the C and D segments of the SUVs. Basically, the most popular segments around the world. Tesla offers 4 models that comprise the D and E segments and the D and E SUVs, as well as the upcoming Cybertruck which has no global potential.

It is also important to mention the different positioning of each car manufacturer. Although it has cut prices several times over the past 12 months, Tesla has positioned itself as a semi-premium manufacturer that caters to customers in developed economies: the United States and Canada, Europe, Korea, Australia and New Zealand, Taiwan, Hong Kong, and China.

BYD's wide range is suitable for both developed and emerging markets. This is probably its biggest selling point compared to Tesla. It allows many people around the world to drive electric. As Tesla's rumored next hatchback doesn't arrive, BYD will continue to earn the opportunity to sell its cars in markets such as India, Latin America, Southeast Asia, Africa, and Central Asia. Emerging markets account for about one-fifth of global light-duty vehicle sales.

From the above it is likely that BYD will overtake Tesla with its electric cars by the end of this year. In addition to its growing presence in emerging markets, the company is also gaining traction in Europe.

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[volkman10]

Tesla reclaims EV crown from BYD amid overall sales drop.

But, BYD's quarterly drop means Tesla, opens new tab took back the sales title based on first-quarter deliveries for Tesla of 386,810, a decline of 20.2% from the prior quarter and 8.5% from a year ago.

However, Tesla taking back the sales crown illustrates its global clout will not be easily challenged, especially as both companies expect a slowdown in Chinese EV sales growth this year.
BYD sold 626,263 units of all vehicle types in the first quarter, up 13.4% from a year earlier, but down 33.7% from a record quarterly high of 944,779 in the fourth quarter.

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