In 2023, BYD has surpassed Tesla to become the world's leading seller of electric cars. This significant achievement reflects BYD's commitment to innovation and the growing demand for electric vehicles. As the automotive industry continues to shift towards sustainable transportation, BYD's success underscores the company's position as a key player in the global market for electric cars. This milestone serves as a testament to BYD's dedication to advancing the adoption of electric vehicles and reinforces its influence in shaping the future of the automotive industry.
Tesla and BYD both set sales records in 2023 – and delivered close to five million cars combined – but the title of the world's top seller of electric cars has changed hands.
Chinese car giant BYD dethroned Tesla to become the world's number-one seller of electric cars in the final three months of last year as it continues its rapid global expansion.
Tesla's Performance
Tesla retained its lead over the 2023 calendar year, reporting approximately 1.81 million deliveries – just ahead of its target of 1.8 million – compared to 1,574,822 BYD electric passenger vehicles sold.
However in the fourth quarter of the year (October to December) BYD took the number-one position for the first time, with 526,409 sales against Tesla's "over 484,000" reported deliveries.
It is believed to be the first time Tesla has lost the global electric-car sales crown since it claimed the top spot from Nissan at some point in 2015 or 2016.
BYD's Achievement
When sales of BYD's plug-in hybrid vehicles (PHEVs) – which can drive on petrol or electric power – are included, the company reported 942,651 sales in the fourth quarter of 2023, or 3.01 million across 2023.
Sales of BYD electric passenger vehicles increased by 73 per cent last year – or 62 per cent when its hybrids are included – compared to 38 per cent growth for Tesla.
In 2018, BYD – which exclusively sells plug-in hybrid and purely-electric cars – reported 97,871 electric passenger vehicles as sold, compared to 244,920 Tesla electric cars.
The gap in annual sales between the two car giants has been as wide as 615,000 vehicles in 2021, after BYD and Tesla reported 320,875 and 935,950 electric passenger vehicle deliveries respectively across the calendar year.
BYD is believed to have placed among the Top 10 selling car makers globally in 2023, however many other global car giants have yet to publish their sales results.
Global and Chinese Market Presence
It is also estimated to be China's top-selling car maker last year, after overtaking Volkswagen – which has led the Chinese new-car sales race for at least 15 years – early in 2023. VW is yet to announce its final Chinese sales figures for calendar-year 2023.
BYD dealers in China will reportedly be paid up to 666 yuan ($AU140) for each vehicle they delivered – even if showrooms missed their own sales targets – according to Chinese media outlets (via CNEVPost).
Sales Strategies
The growth of the Chinese electric-car giant comes amid its rapid global expansion over the past 18 months into markets such as Australia and Europe – plus its roll-out of dozens of new models, from $20,000 electric city hatchbacks to high-priced four-wheel-drives and luxury SUVs.
In contrast, Tesla launched just one all-new model in 2023, the Cybertruck pick-up – which is two years behind schedule, still in an early phase of production, up to $45,000 more expensive than originally announced, and not expected to be sold outside North America.
An updated Tesla Model 3 sedan was introduced late in 2023 in Australia, Europe, China and other markets, but it is yet to go on sale in Tesla's home of North America.
In export markets – those outside China – BYD reported 97,245 vehicles as sold from October to December 2023, compared to just 38,732 from January to March 2023.
Summary
As we await the release of sales results from other global car giants and further developments in the electric car landscape, BYD's ascendancy stands as a defining moment in the evolution of the automotive industry.
The competition between Tesla and BYD will undoubtedly continue to shape the future of electric mobility, driving innovation and pushing boundaries as these industry titans vie for supremacy in the dynamic world of electric vehicles.
(This article is sourced from drive.com.au and curated by Thetransporteronline24)
