China’s BYD poised to overtake Tesla as world’s biggest seller of electric vehicles

[beijingwalker]

China’s BYD poised to overtake Tesla as world’s biggest seller of electric vehicles​

China’s best-selling car brand came within a whisker of toppling Tesla last quarter after factory downtime led to the US automaker’s first delivery decline in more than a year. PHOTO: REUTERS
UPDATED

October. 3 2023

HONG KONG - BYD is poised to overtake Elon Musk’s Tesla as the world’s biggest seller of electric vehicles (EVs) as the Chinese automaker’s global sales push gains greater traction.

China’s best-selling car brand came within a whisker of toppling Tesla last quarter after factory downtime led to the US automaker’s first delivery decline in more than a year.

BYD sold 431,603 fully-electric vehicles in the three months ended Sept 30, up 23 per cent from the second quarter. Tesla shipped 435,059 cars globally in the quarter - with the 3,456 gap between the two the narrowest yet.

“BYD will sell more fully electric passenger vehicles than Tesla in the fourth quarter,” said Taylor Ogan, chief executive officer of Shenzhen-based hedge fund Snow Bull Capital, which owns shares in both automakers.

Including hybrids, BYD sold a total 822,094 vehicles for another record quarter, helping it cement its lead as China’s best-selling car brand.

Known for selling affordable cars to the masses, BYD has made progress in broadening its appeal, aiding its sales surge. The company has added two luxury EV brands, Yangwang and Fang Cheng Bao, to penetrate the 1 million-yuan (S$191,000) price category, more than double some of its earlier higher-end vehicles. It also pushed two cheaper models, the Seagull and Dolphin, to undercut its rivals.

Growing exports are also aiding the company, which also makes its own batteries and semiconductor chips, as it eyes a larger chunk of overseas sales to supplement its dominance in China.

Exports accounted for 9 per cent of BYD’s third-quarter sales, up from 5 per cent the previous quarter, according to Bloomberg Intelligence analyst Joanne Chen.

“This will be a key volume driver next year as BYD expands its global presence with more new EVs,” she said.

Both BYD and Tesla, however, are under scrutiny from European officials, who have launched an investigation into Chinese subsidies for EVs, which they claim put European automakers at a disadvantage.
Tesla’s deliveries missed estimates by around 20,000 units as it prepared its factories to make a refreshed Model 3 sedan and the yet-to-be-released Cybertruck. Still, Elon Musk’s company affirmed its annual target to sell 1.8 million vehicles. BYD remains on track to sell around 3 million vehicles, including hybrids.

The automaker also reintroduced its base Model Y crossover sport utility vehicle with rear wheel drive in the US market at a lower price, after it fell short of Wall Street delivery estimates. Tesla also made some tweaks to its Model Y in China, though left the price unchanged. BLOOMBERG

China’s BYD poised to overtake Tesla as world’s biggest seller of electric vehicles

The Chinese automaker’s global sales push is gaining greater traction. Read more at straitstimes.com.

www.straitstimes.com

 

[beijingwalker]

China's EV makers see jump in deliveries, Tesla lags in Q3​

 

[Get Ya Wig Split]

Chinese bootleg’d trash

 

[beijingwalker]

Chinese bootleg’d trash

You are such a trash.

 

[beijingwalker]

Yousabitch

You keep moaning, loser.

 

[Bilal9]

You keep moaning, loser.

Tesla's products are highly overpriced (especially on the higher end).

It's a shame we can't get BYD stateside.

Chinese bootleg’d trash

Passing furtive drive-by comments of no value - have you ever driven one?

How valuable is your opinion?

 

[DoTell]

Chinese bootleg’d trash

A piece of advise in case you have suicidal thoughts: Try another way to kill yourself. Because death by hating is a very painful way to go

 

[SaadH]

Tesla's products are highly overpriced (especially on the higher end).

It's a shame we can't get BYD stateside.



Passing furtive drive-by comments of no value - have you ever driven one?

How valuable is your opinion?

High priced and low in quality. Things start falling apart after a couple years of usage, have owned two teslas and they've had their share of problems and crap quality.

 

[Bilal9]

High priced and low in quality. Things start falling apart after a couple years of usage, have owned two teslas and they've had their share of problems and crap quality.

Yes. People buying Teslas have honeymoons for the first few months, then problems start rearing their head.

Not all of these issues can be resolved by Tesla.

And the Tesla lawyers make sure with the legalese and fine print you have to sign (during purchase) that Tesla is absolved from major liability lawsuits.

 

[beijingwalker]

BYD inches closer to global EV dominance as Tesla sales dip​

Last quarter, BYD came remarkably close to surpassing Tesla in sales figures, largely due to factory downtime that led to Tesla's first delivery decline in over a year. In the three months ending on September 30,

BYD successfully sold 431,603 fully-electric vehicles, marking a 23% increase from the previous quarter. In comparison, Tesla shipped 435,059 cars worldwide during the same period, with a mere 3,456-vehicle gap between the two, the closest margin to date.

Updated On Oct 4, 2023 at 08:43 AM IST

Including hybrid models, BYD achieved a total of 822,094 vehicle sales, setting another record-breaking quarter and further cementing its status as China's top-selling car brand.​

BYD is closing in on Tesla's position as the world's largest electric vehicle (EV) seller, with the Chinese automaker gaining momentum in its global sales campaign.

Last quarter, BYD came remarkably close to surpassing Tesla in sales figures, largely due to factory downtime that led to Tesla's first delivery decline in over a year. In the three months ending on September 30, BYD successfully sold 431,603 fully-electric vehicles, marking a 23% increase from the previous quarter. In comparison, Tesla shipped 435,059 cars worldwide during the same period, with a mere 3,456-vehicle gap between the two, the closest margin to date.

Taylor Ogan, CEO of Snow Bull Capital, a Shenzhen-based hedge fund holding shares in both companies, confidently predicted, "BYD will sell more fully-electric passenger vehicles than Tesla in the fourth quarter."

Including hybrid models, BYD achieved a total of 822,094 vehicle sales, setting another record-breaking quarter and further cementing its status as China's top-selling car brand. Known for offering cost-effective vehicles to a broad audience, BYD has expanded its market appeal.

The company introduced two luxury EV brands, Yangwang and Fang Cheng Bao, targeting the 1 million-yuan (USD 137,000) price category—more than double the cost of some of its earlier high-end vehicles. Additionally, it launched two budget-friendly models, the Seagull and Dolphin, undercutting competitors in pricing.


BYD's growth in exports is also contributing to its success. The company, which manufactures its batteries and semiconductor chips, is eyeing a larger share of overseas sales to complement its dominance in the Chinese market.

Exports constituted 9% of BYD's third-quarter sales, a notable increase from the previous quarter's 5%, according to Bloomberg Intelligence analyst Joanne Chen, who noted, "This will be a key volume driver next year as BYD expands its global presence with more new EVs."

Both BYD and Tesla, however, are facing scrutiny from European authorities investigating Chinese subsidies for EVs, which European automakers claim put them at a disadvantage.

Tesla's deliveries fell short of estimates by approximately 20,000 units as the company reconfigured its factories to produce a refreshed Model 3 sedan and the forthcoming Cybertruck. Despite this setback, Elon Musk's company reaffirmed its annual target of selling 1.8 million vehicles. Meanwhile, BYD remains on track to achieve sales of around 3 million vehicles, including hybrids.

In response to market dynamics, Tesla reintroduced its base Model Y crossover SUV with rear-wheel drive in the U.S. market at a lower price point, aiming to meet demand and regain market momentum. Additionally, Tesla made some adjustments to its Model Y in China while maintaining the same price structure.

BYD inches closer to global EV dominance as Tesla sales dip - ET Auto

Last quarter, BYD came remarkably close to surpassing Tesla in sales figures, largely due to factory downtime that led to Tesla's first delivery decline in over a year. In the three months ending on September 30, BYD successfully sold 431,603 fully-electric vehicles, marking a 23% increase from...

auto.economictimes.indiatimes.com

 

[Stranagor]

 

[jhungary]

Tesla's products are highly overpriced (especially on the higher end).

It's a shame we can't get BYD stateside.



Passing furtive drive-by comments of no value - have you ever driven one?

How valuable is your opinion?

I actually would say that to BYD. I have a BYD dealership around the corner in prospect which is 10 min from where I lived, and I checked out and sat on one of these car, there are no comfort and not much driver assist on the base version, and is 100km less in range

Build quality is more or less basic, and it's $5000 less than a Tesla, not a fan of Tesla, but I would hard thought to know why anyone would choose a BYD instead of Tesla

I think even MG 4EV can outsell this here, I mean I am not a cheap person, but if I were, I would probably go for $45k MG EV than BYD. I mean this is essentially the same quality and build as MG EV but it's 6K more than it

If I were to buy a Chinese car now, I would probably choose MG over BYD

 

[beijingwalker]

I actually would say that to BYD. I have a BYD dealership around the corner in prospect which is 10 min from where I lived, and I checked out and sat on one of these car, there are no comfort and not much driver assist on the base version, and is 100km less in range

Build quality is more or less basic, and it's $5000 less than a Tesla, not a fan of Tesla, but I would hard thought to know why anyone would choose a BYD instead of Tesla

View attachment 958065


View attachment 958066

I think even MG 4EV can outsell this here, I mean I am not a cheap person, but if I were, I would probably go for $45k MG EV than BYD. I mean this is essentially the same quality and build as MG EV but it's 6K more than it

View attachment 958067

If I were to buy a Chinese car now, I would probably choose MG over BYD

Too many "I"s as usual, here is talking about global market share, not you.

 

[jhungary]

Too many "I"s as usual, here is talking about global market share, not you.

Well, when you talk about "Global" market, what you really are talking about Chinese market...

So, yes, we are talking about global market sale, not you.

Or if you think and yes, I am being a global customer, it's about me, not you, as BYD needs to impress me and people like me, not you.

Is that clear?

 

[beijingwalker]

Well, when you talk about "Global" market, what you really are talking about Chinese market...

Global market includes China, you don't know ?