volkman10
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Re: BYD overtakes Tesla to become the world's largest EV maker by volume
BEV manufacture in .
In , Tesla sold 15% more electric cars than BYD. Here's how and why.
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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 .
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?
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While Tesla posted a good 38% increase compared to its 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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Tesla is the world's largestmanufacture in .In , Tesla sold 15% more electric cars than BYD. Here's how and why.
Last edited by volkman10 : 9th January at
17:47
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China&#;s BYD has overtaken Tesla as the world&#;s biggest electric vehicle seller. In the final quarter of , BYD outsold Tesla in EV cars by 526,000 to 484,000 in yet another sign of China&#;s growing clout in the automotive industry.
Chinese automakers have long dominated the huge domestic market, but the country now rivals Japan as the world&#;s biggest car exporter, having overtaken Germany, South Korea, and the U.S. in recent years.
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