(Global) _Chinese automaker BYD claims the leading spot in the world of electric vehicles, as 2023 wraps up, which was one dominated by Tesla.
With over 1.81 million deliveries in 2023, slightly above its goal of 1.8 million, Tesla maintained its lead over BYD’s sales of 1,574,822 electric passenger cars. Nevertheless, BYD moved up a notch with 526,409 sales during the fourth quarter of the year (October to December) as opposed to Tesla’s “over 484,000” claimed deliveries.
This earmarks the first time Tesla has lost the leading position in the sale of electric vehicles worldwide since it overthrew Nissan at a certain point in 2015 or 2016. When plug-in hybrid electric vehicles (PHEVs), which run on gasoline or electricity, are taken into account, BYD claimed 942,651 sales in the fourth quarter of 2023, or 3.01 million sales overall.
Sales of BYD electric passenger cars rose by 73% last year, or 62% when hybrid models are taken into account, whereas Tesla’s growth was just 38%. In 2018, 97,871 electric passenger vehicles sold by BYD, which only offers plug-in hybrid and all-electric vehicles, as opposed to 244,920 electric vehicles sold by Tesla.
Following the announcement of 320,875 and 935,950 electric passenger vehicle deliveries, by BYD and Tesla for the entire year 2021, respectively. Although many other multinational automakers have not yet released their sales figures, BYD has grown rapidly with sales in 2023, qualifying as one of the top 10 automobile manufacturers in the world.
Additionally, it is predicted to have been China’s best-selling automaker in 2023, having surpassed Volkswagen early in the battle to lead the country’s new vehicle sales for at least 15 years. VW has not yet released its final Chinese sales data for 2023. Chinese media sites (via CNEVPOST) claim that BYD dealers in China will receive paid up to 666 yuan ($AU140) for each car they deliver, even if showrooms fall short of their own sales goals.
The fast worldwide expansion of the Chinese electric vehicle behemoth over the last 18 months into countries like Australia and Europe, along with the introduction of several new models ranging from high-end four-wheel drives and luxury SUVs to affordable electric city hatchbacks, accounts for the company’s rise.
In comparison, Tesla only introduced one brand-new vehicle in 2023: the Cybertruck pickup. This model is anticipated to remain exclusive to North America, is two years behind schedule, and is still in the early stages of manufacturing. Its price has also increased by up to $45,000 since it was first shown.
Although it was unveiled in late 2023 in Australia, Europe, China, and other regions, the revised Tesla Model 3 car has not yet been put up for sale in North America, the company’s home market. BYD reported selling 97,245 vehicles in export markets, or those outside of China, from October to December 2023, up from just 38,732 vehicles sold in January to March 2023.
Drive will provide an analysis of Australian statistics for Tesla and BYD following the release of the auto industry’s monthly ‘VFACTS’ sales figures tomorrow, January 4, 2024. Tesla has claimed 43,924 deliveries in Australia in the first 11 months of 2023, compared to 10,975 for BYD, which did not have more than one model in its local lineup until October.
As to analysts, BYD’s original business, batteries, is responsible for its rise. Being some of the priciest components of an EV, BYD may save a significant amount of money by producing them internally. Many of BYD’s rivals get their batteries from other producers.
Sales increased by 70% in December alone thanks in part to BYD’s ability to slash prices considerably at the end of 2023 because to its battery business.
