3, BYD reported record August sales of 174,915 EVs and plug-in hybrids, up 185% vs.
Of course, Tesla still leads in all-electric vehicles, but BYD’s passenger EV sales did swell to 180,296 in Q2, significantly narrowing the gap. giant by just over 100,000 vehicles, seizing the EV crown. So BYD didn’t just overtake Tesla, it raced past the U.S. Less than 3,000 were exported, though overseas sales are expected to climb. In Q2, BYD sold 355,021 NEVs, surging 256% from a year earlier and jumping 24% vs. Tesla Shanghai was shut down for most of April, with limited production until early June. Tesla produced 258,580 vehicles in Q2 vs. Tesla reported Q2 deliveries at 254,695, slightly below views for about 256,000. The automaker set a massive 2023 delivery goal while a sweeping international expansion is just getting underway. Earnings are booming with sales surging and several new models being released. Tesla stock rebounded this past week from its 50-day line to move back above its 200-day moving average, arguably offering an aggressive buy point.īYD stock bounced back a little after plunging in the prior week as longtime investor Warren Buffett, whose Berkshire Hathaway ( BRKB) has disclosed small share sales.īYD the company is going from strength to strength.
While a lot of attention falls on startups such as Rivian Automotive ( RIVN), Lucid ( LCID), Nio ( NIO), Xpeng ( XPEV) and Li Auto ( LI), as well as traditional automakers pushing into EVs, such as General Motors ( GM) and Ford Motor ( F), Tesla and BYD are setting the pace. ( BYDDF) are both fast-growing EV giants.