BYD’s aggressive year-end gross sales push labored. China’s main EV maker bought a report variety of automobiles in 2024, however was it sufficient to take the worldwide EV gross sales crown from Tesla? It was an in depth one. Right here’s the breakdown.
Did BYD’s EV gross sales surge take the EV crown in 2024?
Because it stopped making automobiles totally gas-powered automobiles in 2022, BYD has taken the worldwide auto market by storm.
With one other 509,440 passenger automobiles bought final month, BYD set a brand new gross sales report with over 4.27 million NEVs bought in 2024. BYD’s gross sales crossed the five hundred,000 mark for the third straight month after launching an aggressive year-end gross sales marketing campaign, together with free insurance coverage on choose fashions.
Like many Chinese language automakers, BYD reviews new vitality automobile (NEV) gross sales, together with plug-in hybrids (PHEVs) and totally electrical automobiles (EVs). BYD bought over 4.27 million passenger NEVs in whole in 2024, a rise of 41% YOY.
With 207,734 totally electrical automobiles bought in December, BYD’s EV gross sales reached 1,764,992 in 2024, up 41% from the earlier 12 months.
Earlier at present, Electrek reported that Tesla missed This fall 2024 expectations, delivering 495,570 automobiles within the fourth quarter. Compared, BYD bought 595,413 EVs within the fourth quarter, up 13% from This fall 2023.
| This fall 2024 | 2024 EV Gross sales | 2024 EV Manufacturing | |
| BYD | 595,413 | 1,764,992 | 1,777,965 |
| Tesla | 495,570 | 1,789,226 | 1,773,443 |
Regardless of this, with 1,789,226 automobiles delivered in whole final 12 months, Tesla nonetheless topped BYD’s 1.76 million to take care of the worldwide EV gross sales crown in 2024.
In terms of EV manufacturing, alternatively, BYD edged out Tesla by about 4,500 items. BYD produced 1,777,965 EVs final 12 months in comparison with Tesla’s 1,773,443.
Though the race with Tesla is catching the headlines, BYD’s world gross sales progress is inflicting legacy automakers to make drastic strikes. After promoting extra automobiles than Nissan and Honda for the primary time in Q3, the Japanese automakers at the moment are teaming as much as survive the each “100 years” business shakeup.
With its sights set on much more progress in 2025 because it begins native manufacturing in abroad markets, BYD is shortly closing in on Ford and others.
The corporate expects gross sales to quickly decide up in areas like Europe, Southeast Asia, and Latin America, with native manufacturing beginning quickly.
BYD’s abroad NEV gross sales surged 72% in 2024 to 417,204 because it launched custom-tailored EVs in key world markets.
BYD mentioned in 2025, “The Chinese language dragon will transfer ahead all the best way.” Though it’s best recognized for its low-cost EVs, like its best-selling Seagull (which begins at below $10,000 in China), BYD is increasing with new pickup vans, good SUVs, and luxurious electrical automobiles. One factor is for positive: BYD will probably be a reputation to proceed watching this 12 months.
Supply: BYD, Tesla
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