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Last Quarter 2023: BYD Overtakes Tesla - and Becomes the People's Electric Car
For the first time in a quarter, Chinese electric car and battery manufacturer BYD sold more electric vehicles than Californian industry pioneer Tesla: In the last quarter of 2023, the Chinese company sold 526,409 pure electric vehicles, while Tesla had to let the Far East competitor take the lead despite a sales record of 484,507 vehicles. Nevertheless, the Californians lead for the entire year, and the Musk brand fulfilled its promise of delivering over 1.8 million vehicles, primarily including the Model 3 and Model Y.
This was also influenced by the fact that both Tesla and BYD boosted their sales with massive discounts. Alongside the 1.4 million plug-in hybrids and 1.6 million pure BEVs, BYD still appeared to be on the verge of surpassing Tesla, increasing by a hefty 62 percent. Recently, the manufacturer, which started as a battery maker in 1995, announced the construction of a factory in Hungary to increase its market share in Europe with lower prices. In Germany, between January and November, only 3,428 cars were sold. Although Volkswagen had not yet provided final figures on e-car sales, the Wolfsburg-based company sold just 531,000 e-vehicles by the end of September—a figure that Tesla and BYD achieved in a single quarter.
Translated automatically from German.
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