Tesla beats BYD to be the World’s Best-Selling EV Company Again
$Tesla(TSLA.US$ $BYD COMPANY(01211.HK$ $NIO Inc(NIO.US$ $XPeng(XPEV.US$ The article reported that the figures for battery electric vehicle Q1 2024 delivery data is 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 reclaimed the quarterly World's Best Selling EV title.
My Take: BYD has lowered the EV margin so low that it made us wonder if the company was selling with huge government subsidies. It was reported that BYD is one of the Chinese companies under EU investigation for unfair subsidy. Read here:
BYD, SAIC & Geely Failed to Give sufficient info for EU Anti-subsidy Investigation
BYD, SAIC & Geely Failed to Give sufficient info for EU Anti-subsidy Investigation
In China, the BYD Seagull now starts at 69,800 yuan ($9,700), while the Yuan Plus (BYD’s Model Y competitor) starts at 119,800 yuan ($16,000). On the other hand, Tesla’s cheapest model (RWD Model 3) costs 245,900 yuan ($34,000). It’s interesting to note that the cheapest Model 3 in the U.S. costs $38,990, according to reporting from CNN.
Source:
$BYD COMPANY(01211.HK$ $BYD Co.(BYDDF.US$ $S&P 500 Index(.SPX.US$ $Nasdaq Composite Index(.IXIC.US$ $Tesla(TSLA.US$ $VOLKSWAGEN A G(VWAGY.US$ $NIO Inc(NIO.US$ $Li Auto(LI.US$ $XPeng(XPEV.US$ $General Motors(GM.US$ $Ford Motor(F.US$ $Rivian Automotive(RIVN.US$ $MERCEDES-BENZ GROUP AG(MBGAF.US$ $TOYOTA MOTOR CORP(TOYOF.US$ $GEELY AUTO(00175.HK$ $Stellantis NV(STLA.US$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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104003810 : good news but dropping
SPACELIGHT : Why?
ZnWCOP 104003810: Other EV stocks like Nio, Xpeng, BYD etc are dropping too.
72734102 : Tesla outsold BYD by 85,900 EV’s
ZnWCOP SPACELIGHT: I can see that the article worries you.