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Tesla sales also declined last quarter, but it still took the electric vehicle sales throne from BYD

ChinaElectric CarBYD announced on the 2nd that its electric vehicle delivery volume in the first quarter of this year declined sharply by 42% compared with the fourth quarter of last year, leading toTeslaReclaim the global electric vehicle sales throne.

Due to sluggish demand in the Chinese market, fierce competition and the Spring Festival, BYD sold only 300,114 pure electric vehicles last quarter, significantly lower than 526,409 units in the fourth quarter of last year, and even lower than Tesla’s 484,507 units. Fourth quarter of last year. and many more. If gasoline-electric hybrid vehicles and hydrogen vehicles are included, BYD’s total sales last quarter reached 626,263 vehicles, an increase of 13% compared with the same period last year.

Tesla’s sales also declined in the first quarter, but still stood at 386,810 units, which was 86,000 units more than BYD. However, Tesla is also facing increasing pressure, including increased competition and older models, so BYD may defeat Tesla again in the coming months.

Tesla sales in China have weakened, largely due to fierce competition and the fact that many Chinese automakers have been able to launch new models. Tesla’s main models are still the Model 3 and Model Y, and it is not expected to launch new affordable models before the end of 2025.

With the slogan “electricity is cheaper than oil”, BYD has reduced the prices of almost all its models since the beginning of this year. Competitors Geely Automobile and SAIC-GM-Wuling have also reduced their prices.

Analysts pointed out that the price war in China’s auto market may become a vicious circle, because once the industry cuts prices, consumers will expect the car price to continue to fall, and will lower the price before buying. Will wait till fall. As a result, price cuts will only result in lower sales.

BYD is subject to competition not only from traditional carmakers and electric vehicle start-ups, but also from Huawei andMilletTechnology giants are also planting their flags in the electric vehicle market.

car(tagstotranslate)tesla

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