In 2024, Tesla’s sales fell 1%, marking its first decline in over a decade, while BYD’s sales surged to 1.76 million.
Tesla’s Sales Decline
In 2024, Tesla experienced a 1% decline in sales, delivering 1.79 million vehicles—its first drop in over a decade. Despite price cuts, the company struggled to maintain its dominance in the electric vehicle market as BYD reported nearly matching sales figures at 1.76 million EVs.
BYD’s Market Surge
BYD flourished in 2024 with a 41% increase in total vehicle sales, exceeding 4.2 million. Primarily focused on the Chinese market, BYD has gained traction over competitors like Volkswagen and Toyota due to heightened demand for hybrids and supportive government incentives for electric vehicle adoption.
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