Temporary Tesla production slowdown helped BYD close gap to just 3,456 units in Q3
only a handful of years ago as it tried to ramp-up Model 3 production, the firm is now the world’s biggest EV company in terms of output and has frequently topped the overall vehicle sales charts in Europe. But here comes China’s BYD to spoil that happy ending.
Sales figures just in for the three months to September reveal that Tesla sold only 3,456 more EVs than BYD in Q3, moving 435,049 units to the Chinese firm’s 431,603. That’s the closest the automakers have ever come, and can be partly attributed to downtime atBut that’s far from the only explanation. BYD had already closed the gap on Tesla through the second quarter of 2023, having lost ground in Q1.
“BYD will sell more fully electric passenger vehicles than Tesla in the fourth quarter,” Taylor Ogan, CEO of Snow Bull Capital, told BYD’s 431,603 figure relates only to EV sales – add in hybrid output and it shifted 822,094 vehicles, making it China’s top-selling car brand. But more interestingly, 9 percent of BYD’s output in Q3 was shipped out of China, up from 5 percent in the previous quarter.BYD is, of course, under the beady eye of EU officials who are investigating Chinese state subsidies for EVs and how they potentially disadvantage Western carmakers.
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