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BYD expected to equal Tesla's global sales

By Sun Chi | | Updated: 2023-12-20 14:57
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Visitors look at models from BYD, a Chinese auto manufacturer, during an event ahead of the opening of the Munich auto show IAA Mobility 2023, on Sept 4. [Photo/Agencies]

BYD's global shares by shipments (excluding Denza) have almost caught up with that of Tesla in the third quarter of this year as both of them have accounted for 17 percent of the world's total pure electric vehicle market, according to recent data from the market research company Counterpoint, financial news provider CLS reported on Tuesday.

Data showed that, in the third quarter of 2023, Tesla delivered a total of more than 435,000 vehicles, and BYD delivered 431,600 pure electric vehicles, only about 3,500 vehicles lower than Tesla - almost flat.

However, Tesla's deliveries in the third quarter fell by 6.7 percent quarter-on-quarter, while BYD's deliveries of pure electric models increased by 22.5 percent quarter-on-quarter. According to this trend, even though Tesla's deliveries rose in China in October and November after the Model 3 replacement, BYD is still expected to surpass Tesla in the fourth quarter and become the global pure electricity sales champion.

In terms of vehicle models, the most popular vehicles in the world are Tesla Model Y and Model 3, and BYD Yuan Plus, Dolphin and Seagull.

Counterpoint analyst Soumen Mandal said China still accounts for 58 percent of the global pure electric vehicle market, compared with 12 percent of the United States, and Germany is the third-largest pure electric vehicle market.

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