Tesla (TSLA) Maintains Crucial Position Despite EV Challenges, Eyes on Robotaxi; BYD’s Rising Margins Propel it into Purchase Territory
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- Tesla (TSLA) and BYD (BYDDF) are the world’s largest electric-vehicle makers.
- BYD’s vehicle sales raced ahead of Tesla’s in 2022, but Tesla regained the title in Q1 2024.
- Both EV giants reported big first-quarter delivery declines vs. the fourth quarter, partly due to seasonal weakness in China as well as stalling EV demand globally.
As the world’s largest electric vehicle makers, Tesla and BYD face off in a fierce competition. This article delves into their sales, strategies, and future prospects in the ever-evolving EV market.
Tesla Vs. BYD Sales
Elon Musk expects Tesla deliveries to rise in 2024, despite a sharp decline in Q1 deliveries. Tesla delivered 386,810 vehicles in Q1, down from Q4 2023’s record 484,507 EVs. The majority of Tesla sales are for the crossover Model Y. On the other hand, BYD announced first-quarter sales of 626,236 EVs, up 13.4% vs. a year earlier. BYD looks set to reclaim the BEV crown from Tesla in Q2.
Tesla, BYD Cutting Prices
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