Tesla was not the only one to inspire the market with a delivery record: Chinese competitor BYD was also able to put more vehicles on the road than ever before in the second quarter of 2023. The two giants are going head-to-head in the Chinese market.
• Tesla inspires with delivery record
• BYD increases sales by more than 90 percent
• Combustion shutdown pays off for BYD
Tesla sets new delivery record
The US e-car manufacturer Tesla has done it again: In the second quarter of 2023, the group presented Elon Musk set a new record with 479,700 vehicles produced and 466,140 delivered. According to the news agency “Reuters”, experts had already expected a new high in advance, but the official figures were still higher.
The competition never sleeps
The Chinese Tesla competitor BYD was also able to set a record: According to “CnEVPost”, the conglomerate put 703,561 vehicles on the streets in the past quarter, including 700,244 cars – more than in any quarter before. According to the portal, the company’s delivery figures rose by 95.32 percent compared to the same period last year. With regard to passenger cars, the plus is even 98 percent. In the first half of the current year, BYD sold 1,255,637 vehicles.
Optimistic target for the full year 2023
In 2023 as a whole, the group wants to sell at least three million cars, as BYD chairman Wang Chuanfu explained in March 2023, according to CnEVPost. To achieve this goal, BYD would have to sell an average of around 290,000 cars per month. In the best case, the company even wants to sell 3.6 million copies. Of these, 2.8 million vehicles are to be brought to the Chinese market, and the remaining 800,000 cars are to be sold overseas, an insider told the portal.
While Tesla only has e-cars in its range, here at BYD the data also includes plug-in hybrids in addition to fully electric cars.
Change of strategy has paid off
BYD’s change of strategy seems to have paid off. Just last year, the company stopped producing vehicles with pure combustion engines in order to focus on plug-in hybrids and pure electric cars. According to “Investor’s Business Daily”, BYD is also trying to gain a foothold in the market with cheaper entry-level models. For example, the budget models Yuan Pro and Song Pro were presented at the end of May, and deliveries of the compact Seagull began in the same month. With the Denza N7, however, they also want to serve the premium segment. According to “electrive.net”, the premium crossover is to be manufactured as part of a joint venture with Mercedes-Benz and delivered from July.
Tesla falls behind BYD in China
So things are going well for BYD in the home market, while Tesla cannot achieve pole position in the People’s Republic. Although the Musk Group has been the global leader in the electric car market for the past twelve months, BYD was able to secure the gold medal in China in the past quarter. The reason: Tesla’s growth in China is lagging behind that of BYD, as “Barron’s” reports. Among other things, this is related to Tesla’s high-price range, while the Chinese competitor offers models from different price segments. In addition, Tesla vehicles are not only produced in the Gigafactory Shanghai for the Chinese market, but are also exported to Europe and Canada. Nevertheless, the two e-groups in the Middle Kingdom are in an exciting neck-and-neck race and are far ahead of rivals such as Xpeng and NIO, whose delivery figures were down on the previous year, according to the weekly magazine. Only Li Auto was able to increase deliveries by about 200 percent in the second quarter of 2023.
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