Chinese automaker BYD continues its rise in the electric vehicle market, leaving Tesla behind at home. Data from insurance records in the first week of March revealed how the competition between the two companies is taking shape in China.
BYD does not give Tesla a chance in the Chinese market
Tesla received 13,800 insurance records in China last week. Although this represents an increase of 11.29% compared to the previous week, the decline in the company’s overall performance continues. The company’s sales in February decreased by 11.16% compared to the previous year, falling to 26,777 units.
A decrease of 20.55% was recorded compared to January. Tesla’s exports of vehicles produced in China also experienced a significant decrease. Exports from the Shanghai factory remained at only 3,911 units, which represents an 87.06% decrease compared to the same period last year.
Reliable source Mark Gurman said that Apple is actively working on an AirPods model with a camera.
BYD maintained its leadership in the market with 57,400 insurance registrations last week. However, this figure indicates an 8.01% decrease compared to the previous week. Despite this, the company’s February sales reached 322,846 units, increasing by 163.95% compared to the same period of the previous year. Compared to January, there was a 7.42% increase.
BYD’s growth moves were not limited to sales figures. The company’s new in-car technology strategy announced last month will bring autonomous driving capabilities to a wider customer base. The company’s premium brand Denza’s new SUV model N9 is expected to be released on March 21. All these developments showed us that BYD has strengthened its superiority over Tesla in China.
