Chinese EV giant BYD overtakes Tesla with annual sales topping $100 billion US
The Chinese competitor of Tesla Byd recorded a 73 % jump in profit of the fourth quarter of Monday and said that his annual revenues for 2024 exceeded the sign of the United States from $ 100, exceeding the American car manufacturer.
The Chinese electrical vehicle manufacturer recorded a record of 777.1 billion yuan ($ 107 billion, or $ 153 billion cdn) of revenue last year while sales of electric and hybrid vehicles increased by 40 %.
In comparison, Tesla’s 2024 revenues were almost $ 97.7 billion USA ($ 140 billion cdn).
The report on Monday late coincided with the launch of Byd at the beginning of this week of its Qin L EV sedan, a medium -sized model similar to the model 3 of Tesla but just over half the price.
The net profit of Byd last year was about 40 billion yuan ($ 5.6 billion in the United States), growing by 34 % compared to the previous year.
Last week, the company announced that it was launching an EV Super Fast charging system that according to how much it is filled as much as a filling in the pumps.
The share of the lion, almost 80 % of last year’s byd sales were related to their automotive activities. Byd reported that he sold around 4.3 million electric vehicles and pure hybrids last year.
Almost 29 % of the company’s sales were in markets outside the great China, including Hong Kong and Taiwan, last year, slightly increasing from 27 % of the previous year.
The car manufacturer quickly expanded its exports, even if he has not yet tried to sell in the United States, where the president of the United States Donald Trump has committed to raising rates on cars imports. BYD deals with a 17 % rate on exports of electric vehicles to the European Union.
Tesla’s sales and market share in Europe decrease again
European sales of Tesla electric cars were almost cut in half during the first two months of this year compared to a year earlier, even if the general battery cars market has grown, according to the European Automobile Producters Association.
In addition to a line of models that ages, the decline in sales is also blamed in part of the approval of CEO Elon Musk of the far -right party of Germany in the national elections last month, his embrace of marginal political movements and a gesture during a Trump event in January that many have seen a Nazi greeting.
As the competition grows and a slowdown in European economies hinders total cars sales, Musk’s Electric (BEV) brand has sold 42.6 percent less cars in Europe so far, the data of the European car manufacturers association (Acea) showed Tuesday.
Tesla commanded 1.8 percent of the total market and 10.3 percent of the BET market in February, decreasing from 2.8 percent respectively and 21.6 percent last year.
He sold less than 17,000 cars in the countries of the European Union, Great Britain and European, compared to over 28,000 in the same month of 2024.
Tesla must also face a series of challenges in Europe, before the launch of its new medium -sized SUV Model Y this month. The electric vehicle manufacturer has a smaller and aged training while the traditional rivals of the car manufacturer and new Chinese participants continue to launch new, often cheaper electric models.
