Tesla vs BYD Q1 2023: EV Sales, Revenue, Gross margin and Market Cap

BYD's NEV sales may be higher than Tesla but in term of BEV sales and market cap, Tesla exceed BYD by large margin. For revenue and gross margin, Tesla is slightly higher than BYD. Someone reported Tesla has lost its dominance in profitability to it's rival is not true.

Quote:

NEV, PHEV and BEV Sales :

Tesla's first-quarter deliveries were higher than BYD's 264,647 passenger BEVs, but lower than the latter's 552,076 NEVs, including PHEVs. The US EV maker delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units a year earlier and up 4.34 percent from 405,278 in the fourth quarter. Note: NEV=PHEV+BEV

Tesla vs BYD Q1 2023: EV Sales, Revenue, Gross margin and Market Cap

Gross Margin:

Tesla's gross margin was 19.3%. Although Tesla generated strong revenue in Q1, gross profit declined by 17% YoY to $4.5 billion.

BYD's gross margin was 17.86 percent in the first quarter, up 5.46 percentage points from the same period last year, although it was 1.14 percentage points lower than the fourth quarter.

Revenue:

Revenue from Tesla’s automotive segment stood at nearly $20 billion, an 18% YoY increase.

BYD reported revenue of RMB 120.17 billion ($17.34 billion) in the first quarter, up 79.83 percent year-on-year.

Market Cap:

Based on March 2023 Statista market cap data, Tesla topped while BYD ranked 4th.

$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$

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ZnWC

I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.

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