Tesla vs BYD: BYD is the better buy.
Tesla Vs. BYD Sales In 2023
Tesla
Q2 deliveries: 466,140 EVs ( +83% yoy, +10.2% qoq).
BYD
Q2 BYD deliveries: 700,244 NEVs (+98% yoy, +27.4% qoq). That includes 352,163 BEVs.
Tesla Vs. BYD Earnings In 2023
Tesla
Q2 earnings: USD2.7 billion (+20% yoy)
Q2 revenue: USD24.9 billion (+47% yoy)
Q2 gross margin: 18.2% from 2Q2022's 25.0%
BYD
Q2 earnings: USD0.936 billion (+145% yoy)
Q2 revenue: USD19.2 billion (+67% yoy)
Q2 gross margin: 18.3% from 2Q2022's 14.4%
Tesla vs BYD
BYD's deliveries, earnings and revenue are growing at a faster rate compared to Tesla. It sold more NEVs than Tesla. It is behind In BEVs. But, BYD is rapidly catching up with Tesla.
Tesla Q3 production will likely come down slightly, which Musk says is for factory retooling. Other indications suggest a noticeable decline. The Shanghai, Berlin and Austin plants were already well below capacity.
Tesla expanded into the lower margin mass market segment. Q3 gross margin will likely continue to fall with the new segment and price cuts.
BYD's gross margin has risen the past year, while that of Tesla has fallen. In fact, BYD's gross margin for 2Q2023 surpassed that of Tesla. Its gross margin is likely to continue to rise as it expanded its product line to the fatter margin premium and ultra-premium segments. It is also using the lower cost sodium-ion battery for its low end segment.
Hence, BYD is the better buy compared to Tesla.
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bullrider_21OP : Somebody compared Tesla vs Nio. Instead of comparing apple with apple, he is comparing apple with orange. Comparing a profitable with a non-profitable company. Of course, the profitable company is the bullish one.
Dreamforever : BYD is the former Xiali. Depends on cheapness and volume. I don't have much technology or vision. It would be shameful to compare them all together. It's just as ridiculous as the ratio of numbers between the US military and the Korean People's Army.
Dreamforever : A cheap Tesla that cuts corners on material like BYD will never be able to do it. After all, many people in China are still very poor and only buy cars that cost less than 100,000 or a little more.
bullrider_21OP Dreamforever: Musk laughed at BYD in 2011. He is not laughing anymore.
bullrider_21OP Dreamforever: Are you still living in the past? Are you still in the year 2000?
SPACELIGHT : I'm a Tesla groupie, ain't moving. If BYD is your liquor, walk the walk, drink the kool-aid.
Dreamforever bullrider_21OP: save your words. different living environment,different view. musk just don't want make quarrel with Chinese govermnet or company because he need Chinese's positive views good for selling his tesla.
73016939 Dreamforever: Yes, Tesla has the highest sales volume in China