Tesla was surpassed by BYD again: Chinese companies became the world’s largest sellers of electric vehicles in the fourth quarter – Tesla (NASDAQ: TSLA), BYD (OTC: BYDDF), BYD (OTC: BYDDY)

Chinese electric vehicle giant BYD Co., Ltd. BYD BYD Dongfeng transcend Tesla Inc. Tesla By the fourth quarter of 2024, it will once again become the world’s largest seller of battery electric vehicles (BEV).

What happened: Tesla reported on Thursday that it delivered 495,570 pure electric vehicles in the three months to the end of December, significantly lower than the 595,413 pure electric vehicles sold by BYD during the same period.

Although BYD beat Tesla in the fourth quarter, the US electric vehicle giant delivered 1,789,226 pure electric vehicles in 2024 and maintained its position as the best-selling pure electric vehicle brand of the year. At the same time, BYD only delivered 1,764,992 pure electric vehicles in 12 months, 24,234 units less than Tesla.

Why it’s important: BYD replaced Tesla as the world’s largest seller of pure electric vehicles for the first time in the last quarter of 2023.

2024 is the first year Tesla’s annual vehicle deliveries will fall (1.1%) from the previous year. In 2023, Tesla delivered 1,808,581 vehicles globally. To achieve growth from last year, the company must deliver at least 514,926 vehicles in the three months to the end of December. However, the company couldn’t even crack the 500,000 target.

At the same time, according to previous reports, BYD’s pure electric vehicle sales in 2024 will increase by 12% compared with the same period last year.

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Photo taken from Shutterstock

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