Chinese electric vehicle manufacturer BYD has defeated its American competitor for the first time in history. According to a report released this week, the Asian company registered 526,409 electric vehicles, breaking its own quarterly sales record. Meanwhile, it’s worth noting that Tesla also set a new record by selling a total of 484,507 vehicles during the same period in 2024. Here are the details…
BYD Stands Out with a Wide Vehicle Portfolio
With the new figures, BYD has surpassed the 3 million sales mark, including electric vehicles and plug-in hybrids, while Tesla managed to sell over 1.8 million electric vehicles in 2023.
Experts believe that the Chinese automaker has the advantage of a broader model portfolio, offering everything from compact models like the BYD Dolphin Mini to larger SUVs like the BYD Tan, covering various market segments.
In contrast, Tesla primarily relies on two models, with the Model 3 and Model Y making up the vast majority of its sales.
According to reports from Reuters based on company-related sources, BYD is so pleased with the new results and finally surpassing its biggest competitor that it plans to reward its dealers in China.
The automaker is expected to allocate 2 billion yuan to its dealers to meet its sales targets for 2023. However, this amount has not been randomly determined; a payment plan equivalent to 666 yuan per car sold has been outlined.
The number 666, which is quite controversial in the West, is considered a positive symbol in China, as it closely resembles the word “great” in the country’s language.
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