Tesla Tesla has led and continues to lead the global electric car market, but its reign could be numbered. On the one hand, Tesla’s sales are stagnating and Elon Musk does not seem to have much interest in changing the situation.
On the other hand, BYD is selling more cars than ever. At the moment, it is the world’s second largest manufacturer of 100% electric models, but it is getting closer to Tesla’s numbers and could end up surpassing the American brand.
Tesla sales have stagnated and BYD sells more electric cars than ever
Since Tesla began mass-producing the Tesla Model S in 2012, its sales have continued to grow. Last year it achieved its best results, selling more than 1.80 million fully electric cars and becoming the world’s first manufacturer of such vehicles. However, now Their sales have stagnated and his reign is threatened.
There is another manufacturer that has also grown wildly over the last few years and could now take Tesla’s toast with its electric cars. It is BYDthe Chinese giant that is growing by leaps and bounds in its local market and also in Europe; in 2023, the Asian company sold more than 1.57 million electric vehicles worldwide and this year its sales continue to grow.
Meanwhile, Tesla’s sales have stagnated and are expected to peak in 2023. For the time being, Elon Musk’s firm continues to lead the global electric car market, but according to data from InsideEVsin the second quarter of 2024 has sold 443,956 units, which is 5% less than in the same quarter of the previous year, while BYD (both BYD and the rest of the group’s brands) has sold 426,039 zero-emission vehicles, that is, 21% more than in the same period in 2023.
By the fourth quarter of 2023, BYD had already sold more electric cars than Tesla, but in the year-to-date, the Chinese brand was still far behind the American brand. If the trend of the second quarter continues this year, it is likely that BYD ends up overtaking Tesla in all four quarters.
So far, Tesla has sold 830,766 electric cars and BYD 726,153, i.e. 7% less for the American brand and 18% more for the Chinese brand in the year-on-year comparison.
Added to this is everything BYD is doing to continue improving its sales figures, which contrasts with Elon Musk’s plan to turn Tesla into a robotaxi and artificial intelligence brand.
As of today, Tesla is still making money, but it is becoming less and less as Elon Musk dismantles the brand and moves away from cars, so the change of hands of the electric throne seems inevitable.
Beyond Tesla’s sales decline, the second quarter of 2024 brings another piece of bad news for Europe’s largest automotive group: Volkswagen GroupSo far this year, the German company has sold 1.4% fewer electric vehicles than in the same period in 2023 (316,438 units) and has been overtaken by two Chinese groups: Geely-Volvo and SAIC, becoming the fifth largest manufacturer of electric cars in the world.
It is clear that China is going all out and that, at least in the electric car market, Chinese brands intend to crush the westernersSo much so that by 2030, one in three electric cars in the world will be Chinese, according to experts.
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Source: www.motorpasion.com
