Chinese car manufacturer BYD officially overtakes Tesla in sales of electric vehicles

Chinese car manufacturer BYD officially overtakes Tesla in sales of electric vehicles
Chinese automotive giant BYD has overtaken Elon Musk’s Tesla for the most sold electric vehicles (EVs) in the last three months of 2023.

BYD sold a record 526,000 battery-only vehicles globally, whereas the American manufacturer sold 484,500 in the same time period.

Tesla did sell significantly more vehicles over the whole 12-month period. However, this was the first quarter that the Chinese competitor has outpaced Tesla.

BYD concluded 2023 by being listed among the global top 10 of car sales for the first time. In the Chinese market, BYD retained its position as the best-selling car brand and manufacturer.

December saw sales of 341,043 units, a 45% increase, culminating in a total of 3,024,417 vehicles sold throughout the year, a substantial 61.9% surge from the previous year.

In terms of the company’s global reach, BYD's international market presence grew significantly in 2023, with exports growing by 334.2% to 242,765 units.

BYD vehicles are now available in over 70 countries on six continents.

The company’s most popular models include the SEAL, SEAL U, Dolphin, and the Han.

Through its range of vehicles, BYD has increased its standing on the global stage, evolving from leading China's EV market to becoming the top global seller at the end of the 2023.

Following its recent success, BYD stated that it will continue to accelerate the transition towards a greener future and contribute to its vision to ‘Cool the Earth by 1°C’.

Originally founded in 1995 as a rechargeable battery maker, BYD now works within a range of sectors, including electric vehicles, rail transit, new energy, and electronics.

BYD has over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India.

Would you be interested in buying a BYD EV? What are your thoughts on the company overtaking Tesla in terms of sales at the end of 2023? Leave your comments below.

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