Monday, June 17, 2024

Polaris of Enlightenment

Monday, June 17, 2024

Polaris of Enlightenment

BYD breaks sales record – could take over the lead from Tesla

Published 1 January 2024
- By Editorial Staff
BYD's Destroyer 07 model at Auto Shanghai 2023.

In China, BYD, one of the leading manufacturers of electric cars, has set a new sales record in the fourth quarter of 2023 with over 526 000 electric cars sold. This success, reported to the Hong Kong Stock Exchange, challenges Tesla, which has long dominated the electric car market.

Tesla is expected to report a delivery of 473,000 cars in the same period, according to data from LSEG. While Tesla still holds a strong position in the US, BYD’s success highlights the growing competition in the electric vehicle industry and the potential for changes in market leadership.

Tesla’s CEO, Elon Musk, has focused on increasing the company’s deliveries, but it faces challenges such as price pressure and regulatory changes. BYD’s sales success is a clear sign of the rapid development and increasing competition in the electric vehicle sector, indicating an intense future for the industry.

Monday’s figures also show that BYD sold a total of over 3 million cars in 2023.

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