Tesla, long the undisputed market leader in the field of electromobility, faces a new challenger in 2024. The Chinese e-car giant BYD has set an impressive sales record and is coming Tesla dangerously close with its sales figures. While Tesla had to accept a decline in deliveries for the first time in a decade, BYD is reporting strong growth - especially in plug-in hybrids.
Tesla: Decline in sales despite growth in China
Tesla delivered worldwide in 2024 1.79 million vehicles a decrease of 1.1 percent compared to 2023. The fourth quarter was particularly disappointing, with the company missing its self-imposed target of 515,000 vehicles and "only" just 495,600 units delivered.
Successes in China:
Despite the global downturn Tesla a record high in China of over 657,000 deliveries (+8.8 percent) in China. This means that around 37 percent of all Tesla-sales on the Chinese market.
Problems in Europe:
In Germany and other European markets Tesla markets, on the other hand, are struggling with weaker sales figures, which had a negative impact on the global result.
BYD: Record sales thanks to hybrid boom
BYD, China's largest manufacturer of electric vehicles, reported impressive sales figures for 2024. 4.25 million vehicles delivereda growth of over 41 percent compared to the previous year.
- Fully electric vehicles: BYD sold 1.76 million pure e-carsonly 30,000 less than Tesla.
- plug-in hybrids: The biggest growth drivers were plug-in hybrids with almost 2.5 million vehicles sold (+73 percent). The share of these vehicles rose from 48% to 58%, while the share of fully electric models fell from 52% to 42%.
Strategic differences: Tesla vs. BYD
- Tesla: Continues to focus exclusively on all-electric vehicles and is aiming to become the world's leading electric car manufacturer with its models. Model Y, Model 3, Model S and Model X offer maximum range and efficiency.
- BYD: Uses a two-pronged strategy and combines all-electric models with plug-in hybrids to appeal to different target groups.
BYD's expansion plans and challenges
BYD is just starting to export its vehicles. While Tesla is established in markets such as Europe and the USA, BYD has not yet punitive tariffs in the EU which have been levied on Chinese electric cars since the end of 2024. These tariffs are intended to offset the alleged unfair competition from Chinese subsidies. In the USA, punitive tariffs have already made market access more difficult for Chinese brands.
Conclusion: An exciting race for market leadership
With only 30,000 vehicles difference in pure electric cars, BYD is closer to Tesla than ever before. While Tesla continues to focus on all-electric mobility, BYD is showing that plug-in hybrids can also be a key growth driver. The coming years will show whether Tesla can maintain its leading position or whether BYD will take the lead thanks to its broader product range and aggressive growth strategy.
Keywords: Tesla, Tesla Model Y, Tesla Model 3, Tesla Accessories, Tesla Store, Shop4Tesla, Tesla News, BYD, BYD electric cars, Tesla sales, e-mobility, BYD plug-in hybrid, Tesla China, electric car market
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