Dr Ahmad Sabirin Arshad’s Post

China's EV giant, BYD, has taken the lead in global electric vehicle sales, surpassing Tesla in the first eight months of 2024. With over 2.2 million vehicles sold, BYD has solidified its position as the world's top EV maker. Tesla, led by Elon Musk, follows closely with over 1.1 million vehicles sold. Notably, six of the top ten EV sellers are Chinese companies, highlighting the rapid growth and dominance of the Chinese EV industry.

Tesla sales fell slightly in 2024, the first annual decline in the company’s history, as rivals in China, Europe and the United States introduced dozens of competing electric models, giving buyers more choice. BYD, which has nearly caught up to Tesla as the world leader in sales of purely battery-powered cars, sold 1.76 million electric vehicles in 2024, an increase from 1.6 million the year before. Unlike Tesla, BYD also sells plug-in hybrids that use gasoline and electricity, which have become popular in China. Last year, the company sold 2.49 million hybrids, a huge jump from 1.44 million in 2023. https://lnkd.in/eiGUgXQD

China's BYD ranked No. 1 in EV sales, with more than 2.2 million vehicles sold between January and August 2024. Elon Musk's Tesla ranked No. 2, with over 1.1 million vehicles sold. Among the top 10 EV sellers, six are Chinese EV companies, and three are German brands. Source: Global Times #EV #electricvehicles #salesvolume

BYD, China's leading electric vehicle (EV) manufacturer, experienced a significant decline in sales during the first quarter of 2024. Their sales dropped by 43% compared to the fourth quarter of 2023, resulting in Tesla reclaiming the title of the world's largest EV seller. 👉 BYD sold 300,114 EVs in the first quarter of this year, a decrease from their previous record of 526,409 units sold in the last quarter. However, their first-quarter sales still showed a 13.4% increase compared to the same period last year. 👉 Meanwhile, Tesla's first-quarter deliveries totaled 386,810 vehicles, marking a decline of 20.2% from the previous quarter and 8.5% from the same period last year. Despite this decrease, Tesla regained its position as the top-selling EV brand based on first-quarter sales figures. #tesla #BYD #EV #Brandupdates #Global #Markedium

While it is true, that yes, this did happen, Tesla remains a great short! "Tesla, still the world’s second-largest EV manufacturer, is facing increasing pressure as its flagship Model 3 and Model Y sales have fallen. In the first eight months of 2024, Tesla sold 1.104 million vehicles, a 5.8% decline from last year. The company’s global market share also dropped to 11%, down 3.1% compared to the same period in 2023." "Tesla’s struggles are particularly pronounced in Europe, where sales fell by 16.2%, and in North America, where sales dropped by 8.4%. Meanwhile, China’s Geely Group surged into third place in global EV sales, delivering 761,000 units, a 52.8% increase, solidifying its position both in China and abroad. Other top automakers, including Volkswagen Group, SAIC Motor Group, and Changan Group, continue to trail behind."

BYD beats Tesla in quarterly sales for the first time as demand soars for hybrid EVs BYD’s third-quarter sales jumped 24 per cent to 201.12 billion yuan (US$28.2 billion), beating Tesla’s US$25.18 billion revenue in the same period

🚨BYD closing in on Tesla ☑️BYD’s record-breaking year - BYD sold 4.25 million passenger cars in 2024, with 1.76 million being fully electric (up 41% year-over-year). - December 2024 was especially strong, totaling 509,440 plug-in and EV sales (207,734 EVs), driven by government subsidies and buyer incentives. ☑️Tesla’s slowing momentum - Tesla sold 1.79 million EVs in 2024, a 1.1% decrease compared to 2023—its first decline in over a decade. - Fourth-quarter incentives (free charging, 0% financing, low-priced leases) boosted Tesla’s numbers but couldn’t offset the slow start to the year. ☑️Looking ahead to 2025 - BYD’s annual revenue is expected to exceed $100 billion for the first time, fueling further EV investment and global expansion. - If BYD continues on this trajectory, it could potentially surpass Tesla in 2025, solidifying its position as a major global automotive powerhouse. For the full report, checkout https://lnkd.in/d6pVJyNg

BYD’s year-end sales surge closes out a record 2024, but was it enough for the EV lead? BYD’s aggressive year-end sales push worked. China’s leading EV maker sold a record number of electric cars in 2024, but was it enough to take the global EV sales crown from Tesla? It was a close one. Here’s the breakdown. Did BYD’s EV sales surge take the EV crown in 2024? Since it stopped making https://lnkd.in/gzbYjBt2

🚗 BYD’s Stock Growth: A Wake-Up Call for Europe? 📈 BYD’s recent stock surge highlights its growing global influence and brings key implications for the EU EV market: 1️⃣ Price Advantage: BYD’s cost-efficient production could disrupt European automakers with affordable, tech-packed EVs. 2️⃣ Faster Competition: Legacy brands like VW and BMW now face intensified pressure to innovate and cut costs. 3️⃣ Consumer Shift: With stricter EU emissions rules, BYD’s vehicles may accelerate EV adoption across Europe. 💡 Is this a turning point for the European EV market? Share your thoughts below! 👇 #EV #BYD #EuropeanMarket #ElectricVehicles

Electric car sales globally are exploding & their prices becoming affordable to more people in more countries around the world. Tesla is focussed on the richer, more developed countries while BYD & China’s other EV automakers are competing with Tesla in the richer, developed countries while China is vacuuming up the rest of the less developed & poorer countries globally which Tesla is not focussed on, or price competitive in. The traditional automakers have taken over many x-Tesla customers in the luxury car space, but Tesla is “going mainstream”, by lowering their prices & increasing the range their EVs can travel. BYD & other Chinese EVs are expanding at hyper speed & taking market share in the majority of counties globally, including Australia who doesn’t have domestic automakers, hence Australia is buying the cheapest EVs possible, which is harming Tesla & traditional EV automakers. From a high level, EVs are scaling fast on a global scale, their range is going up fast, while battery/EV prices are dropping like a stone. This global EV price/volume war & EV distance/range war will continue! Automakers, Auto Dealer Owners & bankers will need an integrated strategic EV roadmap to “hedge” these “urgent” risks! My strategic EV roadmap is over 30 yrs old! Happy to help!