Vincentius Liong/Leong 梁国豪’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.

Chinese Electric Vehicle maker BYD reported third-quarter revenue that topped that of behemoth rival Tesla for the first time. ➡️ On Wednesday, BYD reported revenue for the three months ended Sept. 30 of 201.12 billion yuan (US$28.24 billion), up 24% from a year ago. That exceeded Tesla’s revenue of US$25.18 billion reported for the same period. ➡️ It’s a first for the Beijing-based EV giant as its solid performance came despite the EV downtrend in mainland China. The company sold a record number of passenger vehicles in August. Read more: https://cnb.cx/3Ap3s2r Credit: CTTO, CNBC International #EV #BYD #Tesla #revenue

BYD Outpaces Tesla in Revenue: BYD reported record revenue of $28.2B in Q3 2024, surpassing Tesla’s $25.2B in the same period #BYDvsTesla Earnings and Sales Record: BYD’s net income hit a new high of $1.6B with sales of 1.12M electric and plug-in hybrid vehicles #EVGrowth Tesla’s Profit Lead: Tesla still outpaces BYD in profit with $2.2B, largely due to its fully electric focus and AI potential #TeslaFocus Hybrid Sales Drive BYD’s Growth: BYD’s hybrid lineup gives it a resilience Tesla lacks as consumer demand for full EVs cools #HybridAdvantage Supply Chain Edge: BYD’s in-house production boosts cost efficiency, while Tesla faces model fatigue with a limited EV-only lineup #VerticalIntegration Geopolitical Challenges: EU tariffs affect Chinese EVs in Europe, but China’s subsidies help BYD maintain strong domestic sales #TradeTensions Outlook for Q4: BYD is set to meet its 4M vehicle sales target, aided by high demand in China and year-end purchasing surges #Q4Growth

Despite China’s overall economy coming down with a bad cold last year, its EV companies are still raring to go — and even upstaging the world’s most valuable auto company. Tesla reported its first annual sales drop in over 10 years, while its biggest Chinese competitor BYD posted annual sales that comfortably beat expectations. #EV #Tesla #BYD #thedailyupside https://hubs.ly/Q031cD7q0

🚗💥 BYD Company, Tesla’s rival, reported a 21% increase in Q2 electric vehicle sales, reaching 426,039 units, just 12,000 fewer than Tesla's. Tesla is expected to announce a 6% decline in Q2 deliveries due to fierce competition in China and lower demand for older models. In May, new energy vehicles made up 46.7% of total car sales in China, setting a new record! 🌟 Stay tuned for more at tradezing.com #BYD #Tesla #Nio #ElectricVehicles #EV #Innovation #AutomotiveIndustry #MarketTrends #TradeZing

🚗⚡ BYD beats Tesla in quarterly revenue for the first time! ⚡🚗 China’s top automaker, BYD, reported a 24% revenue surge to 201.1 billion yuan ($28.2 billion) for Q3, surpassing Tesla's $25.2 billion for the same period. This marks the first time BYD has outpaced Tesla in revenue since the two began competing globally in EV sales. While Tesla is focused on scaling up the Cybertruck and its partial-automation systems, BYD is charging forward with a lineup of new models that keep the market excited. 🌍📈 #BYD #Tesla #EVMarket #ElectricVehicles #Innovation https://lnkd.in/dwzzhntX

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

Global #ElectricVehicle Market 2024: Rise of #China puts Tesla and #Europe under pressure. The global #EV market has seen an impressive takeoff in the first half of 2024. ▪ According to EV-volumes.com, two manufacturers dominate: BYD and Tesla . ▪ Together, these industry leaders accounted for more than 30% of the global electric vehicle market in the January-May period, highlighting their key role in the transition to the #ElectricVehicle. #BYD the undisputed leader. ▪ With a market share of 21%, BYD has sold 1.19 million vehicles worldwide. ▪ Its dual focus on all-electric (#EV) and plug-in hybrid (#PHEV) vehicles is key to its success, with PHEV sales up 54% in May compared to last year. ▪ In addition, BYD's affordable pricing strategy helps reach a wide range of consumers, enabling the company to expand its reach beyond China's borders and become a global player in the electric vehicle space.

[What slowdown?] #EV sales are still booming for most automakers. "For every sign of an EV slowdown, another suggests an adolescent industry on the verge of its next growth spurt. In fact, for most automakers, even the first quarter was a blockbuster. Six of the 10 biggest EV makers in the US saw sales grow at a scorching pace compared to a year ago — up anywhere from 56% at Hyundai-Kia to 86% at Ford" reports Bloomberg. Tesla's gap year leaves an opportunity for other OEMs. This is the case for Hyundai and GM, with their successful strategy: aggressively introduce affordable EV models to achieve economies of scale. Demand for EVs stands high, supported by favorable government policies and technological innovations; many long-term forecasts remain unchanged. More in our latest newsletter → https://lnkd.in/ekv6pGgY #graphite #EVs #batteries #electrification

In Q4 2023, China’s BYD created a stir by surpassing Tesla in sales, leading many to anticipate further decline for the once-dominant EV giant in 2024. However, the latest Q1 2024 data unveils a significant 43% decrease in BYD sales from the previous quarter. In contrast, Tesla’s sales experienced a somewhat lesser decline of 20%. #tesla #byd #ev