Tesla Is Once Again the World’s Best-Selling EV Company


This post is by Marcus Lu from Visual Capitalist


See this visualization first on the Voronoi app.

Chart showing quarterly BEV sales between BYD and Tesla

Quarterly BEV Sales: Tesla vs BYD

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. China’s BYD made waves for outselling Tesla in Q4 2023, prompting many to believe that the once dominant EV king would fall further behind in 2024. However, figures for Q1 2024 are now out, and they reveal a dramatic 43% decline in BYD sales from the previous quarter. Meanwhile, Tesla reported a slightly less painful 20% drop in sales. To see how this battle is playing out, we visualized the global BEV sales of both companies over the past several years. Exact figures can be found in the table below.
QuarterTeslaBYD
2022 Q1310,048143,223
2022 Q2254,695180,296
2022 Q3343,830258,610
2022 Q4405,278329,011
2023 Q1422,875264,647
2023 Q2466,140352,145
2023 Q3435,059431,603
2023 Q4484,507526,409
2024 Q1386,810300,114
The steep drops reported in Q1 2024 are the latest sign that consumer appetite for fully electric vehicles has slowed, prompting both companies to escalate their ongoing price war. In February 2024, BYD responded to Tesla’s repeated price cuts with its own round of discounts.

BYD Offers a Significantly Lower Entry Point

As shown in the above graphic, starting prices for some of BYD’s electric cars are incredibly low. In China, the BYD Seagull now starts at 69,800 (Read more…)