BYD IS ON THE VERGE OF SURPASSING TESLA AS THE LEADING ELECTRIC CAR MANUFACTURER, HAVING SOLD 431,603 UNITS IN Q3 2023
During the third quarter of 2023, BYD sold 4,31,603 pure electric cars globally, a substantial 23 percent increase over the same period the previous year.
In an unexpected turn of events, Chinese automaker?BYD, backed by famous investor Warren Buffet, is getting closer to challenging Tesla’s dominance in the worldwide electric vehicle (EV) market.
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According to Bloomberg, BYD sold 4,31,603 pure electric cars globally during the third quarter of 2023, a remarkable 23 percent increase over the same period last year. This record puts BYD just 3,456 sales behind Tesla, which delivered 4,35,059 vehicles over the same period.
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This data implies that if BYD maintains its progress into the fourth quarter, it might overtake Tesla, signaling a significant shift in the EV production scene. This would be the first time Tesla has ceded its status as the leading EV maker since dethroning Nissan in 2019.
However, there are several elements to consider that might influence this race, such as potential overnight price cuts in the US and Tesla’s newly released Model 3 makeover, which could damage sales and perhaps prevent BYD from taking the lead in the following quarter.