BYD, Nio, Zeekr Achieve Record Deliveries.Can Tesla turn things around?

Tesla's ( TSLA ) Chinese rivals accelerated growth in June, while Tesla's second-quarter deliveries are expected to slip. Startup electric car company Azalea Motors ( NIO ) beat its second-quarter sales estimates and posted its largest quarter-over-quarter sales increase. Azera also reported record June and second-quarter sales on Monday.

Xiaopeng Auto ( XPEV ) and Ideal Auto ( LI ) also posted sales gains in June and the second quarter, while the recently launched Zeekr ( ZK ) set sales records for both. Chinese electric vehicle and battery giant BYD (BYDDF) also posted record June and second-quarter sales. BYD sold 341,658 vehicles in June, up 35 percent from a year ago and up 3 percent from 331,817 in May.

This just surpassed the previous record of 341,043 units set in December. For the quarter, BYD sold 986,720 vehicles, also a record, up 57 percent from 626,263 in the first quarter. BYD won the title in the fourth quarter of 2023. Tesla regained the title in the first quarter of 2024, but could soon lose it again. Elon Musk has refocused on self-driving cabs as well as robotics and artificial intelligence, while Tesla has cleared key hurdles to launching FSD in China.