BYD is The New EV King; Trumps Tesla in 2023 Q4 Sales

BYD sold more than 5 lakh electric cars in the last quarter of 2023, far surpassing the sales numbers of Tesla

In the realm of electric cars, Tesla needs no introduction. It is a giant.

Tesla is more than a popular entity; it is a torchbearer of sorts. It functions as a car company operating at an intersection of tech, engineering and automotive. 

All of which is wrapped around some pretty high-level engineering. This perhaps explains why Tesla is a brand name known to people across the world today. 

Having said that today,  BYD is no different. It has done to shaping the Chinese EV market what Tesla has done at a global level.  

Few organisations have shaped the dynamics of electric mobility in China the way BYD has, a brand that is true to its actual name: Build Your Dreams. 

But the fact is, as of today, BYD as a leading EV carmaker is not lagging behind Tesla. Not by any means, truth be told.  

No hearsay. No big talk; pretty much spitting out facts. So where exactly is BYD taking the fight and perhaps even leaving Tesla with some catching up to do for the lack of better expression? 

BYD Sales Trump Tesla

For starters, leading business publications have begun reporting in the last month or two that the Chinese auto giant has been nipping at Tesla’s heels a bit. But how is that? 

For starters, the biggest turning of the tide, if one must put it like that, is that where it stands at present, then BYD is the highest seller of EVs- not Tesla.  

Revered business and economics publication Business Insider stated in no uncertain terms: “The Chinese automaker reported fourth-quarter EV sales of 526,409 cars. That far surpasses what Tesla is expected to deliver in Q4 — around 476,000 cars — according to a December 14 note from Deutsche Bank.

This would be the first time BYD surpassed Tesla in quarterly deliveries”.  

That said, this impacts BYD in more ways than one and in an utterly positive manner. 

For starters, BYD superseding Tesla in the last few months points to a surge in the image of the Chinese carmaker in the space of the global EV market. 

Secondly, it does suggest and now with numbers backing the claim that there is finally a company not from the US that is emerging as a premium car maker in the space of electric vehicles, bypassing a giant like Tesla. 

For insofar, as the moment one spoke about the world’s most successful and widely known carmaker in the EV space, the name of Tesla sprung up akin to what one thinks of American sports in the context of the Super Bowl. 

Moreover, in the contemporary framework, the consumer of EVs today has another renowned name in the form of BYD that is not Tesla. 

Truth be told, in some ways, the rise of BYD also promotes the rise of Chinese soft power besides also upping the case of the oriental land vis-a-vis its American counterpart. 

Does it not? 

On then the other hand, Tesla, whose sales figures are said to only rise in the next quarter with regards to Model S and Y as are the projections for the first quarter of 2024, would like to hit back and strongly so. 

Industry experts are also of the view that somewhere proliferation of EV car production has also helped BYD usurp Tesla as far as the current battle stands. Would you agree? 

Watch out for this highly competitive space for more EV updates.