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Tesla Is Getting Beat By China's BYD on EV Sales

Dow Jones01-02

BYD sold more than 520,000 all-battery vehicles in the fourth quarter, while Tesla delivered just over 480,000

BYD is now beating Tesla on EV sales.BYD is now beating Tesla on EV sales.

Tesla Inc. has been knocked off its perch as the electric vehicles leader, after delivery data showed that China-based auto giant BYD Co. is now beating Tesla in the EV game.

BYD said over the long weekend that it sold 190,754 battery electric vehicles in December, up 70.4% from the same period a year ago.

Including the 170,150 EVs sold in November and the 165,505 EVs delivered in October, BYD sold 526,409 EVs during the fourth quarter.

Tesla reported Tuesday fourth-quarter deliveries of 484,507 vehicles, up 19.5% from a year ago and above the FactSet consensus of 473,000, but 8% below BYD’s total.

Tesla’s stock edged down 0.5% in morning trading Tuesday, narrowing an earlier premarket loss of as much as 1.4%.

Meanwhile, BYD’s U.S.-listed shares fell 2.9%.

In the third quarter, BYD had sold 431,738 EVs while Tesla delivered 435,059.

And for 2023, BYD delivered 1.575 million EVs, while Tesla’s 2023 delivered 1.809 million EVs.

Tesla’s stock had soared 101.7% in 2023, while BYD’s U.S.-listed shares gained 11.3%. In comparison, the iShares MSCI China ETF dropped 14.2% in 2023 while the S&P 500 index advanced 24.2%.

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  • Clearly tesla doesn't have the production capacity of byd. Production numbers isn't the only matrix. Important nonetheless. Tesla will continue to grow capacity.   The war isn't over. The market isn't just one on one for now as there pie is growing bigger as there's room for both. 
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