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Correct comparison of Tesla and BYD 4Q2024 deliveries
Someone wanted to take credit away from BYD, so he wrote an article:
Correct mindset: Comparing Tesla and BYD Q4 2024 delivery
Correct mindset: Comparing Tesla and BYD Q4 2024 delivery
He deliberately left out the growth rates.
Tesla has lost the title of the world's top battery electric vehicle producer to Chinese juggernaut BYD.
In 2024, Tesla made 1,773,443 (down 1% year-on-year) battery electric vehicles. (Since Tesla only makes BEVs, that's also its total production number for the year.) BYD, meanwhile, churned out 1,777,965 (up 12% yoy) EVs, about 4,500 more than Tesla did.
For 4Q2024 deliveries, BYD was again ahead. BYD delivered 595,413 (up 13.1% yoy) BEVs in Q4, while Tesla said it delivered 495,570 (up 2% yoy) BEVs during the same period.
But Tesla took the lead in 2024 annual deliveries. Tesla delivered 1,789,226 cars last year (down 1% yoy), while BYD delivered 1,764,992 BEVs (up 12% yoy).
With BYD's faster growth rate, it is poised to take the crown for 2025 annual deliveries of BEVs.
Tesla's deliveries will be weak because of weak demand, increased competition and withdrawal of EV credits by the Trump administration. The rumoured low cost Model Q will not be enough to increase its sales by 30% from last year.
BYD Was The Top EV Maker In 2024, Beating Tesla
https://www.moomoo.com/community/feed/113761901674502?share_code=01S821
Tesla makes a lot of profit because it has many profit streams, EV tax credit, sale of regulatory credits to other automakers who need to meet emissions standards and FSD packages. Tesla receives a lot of regulatory credits because it only makes battery electric vehicles.
https://www.moomoo.com/community/feed/113761901674502?share_code=01S821
Tesla makes a lot of profit because it has many profit streams, EV tax credit, sale of regulatory credits to other automakers who need to meet emissions standards and FSD packages. Tesla receives a lot of regulatory credits because it only makes battery electric vehicles.
Tesla also makes money from FSD packages. This fact has not been reported by the public media. These packages will upgrade your vehicles to robotaxis when the technology becomes avaliable. The problem is the technology didn't become available so Tesla owners paid thousands of dollars for a product which didn't exist and Tesla earned 100% profit on each FSD package.
BYD never had these profit streams. Moreover, it previously focused on the numbers to gain market share rather than profit.
But this is changing with BYD's premium and ultra-luxury segments.
Top BEV producer in 2024
1. BYD 1,777,965
2. Tesla 1,773,443
1. BYD 1,777,965
2. Tesla 1,773,443
Somebody wanted to make BYD look bad by including ICE cars and hybrids. But it only made Tesla look worse. Toyota is still number 1. BYD jumped up the table in the past year, further away from Tesla which stayed around the same place.
Top automaker in 2023
1. Toyota.
10. BYD.
14. Tesla.
1. Toyota.
10. BYD.
14. Tesla.
Top automaker in 2024
1. Toyota.
BYD will jump a few places with 4,272,145 units (up 41.3% yoy).
Tesla will fall further behind with 1,789,226 units (down 1% yoy).
1. Toyota.
BYD will jump a few places with 4,272,145 units (up 41.3% yoy).
Tesla will fall further behind with 1,789,226 units (down 1% yoy).
It's not true that only BYD cut prices. Tesla also cut prices agressively and gave zero-interest financing for its EVs to meet its full year target. But it fail to do so.
In China, the correct term New Energy Vehicles is used for clean energy vehicles to take into account hydrogen fuel cell EVs.
I have repeated this several times. If you still don't know. I have nothing to say.
NEVs = BEVs (battery electric vehicles) + PHEVs (plug-in hybrid EVs) + HFCEVs
If HFCEVs = 0, then NEVs = BEVs + PHEVs
If PHEVs = 0, then NEVs = BEVs
If PHEVs = 0, then NEVs = BEVs
Since Tesla only makes 1 type of electric vehicle, it just calls it EV.
Somebody always like to say BYD bumps up its sales with PHEVs. Hybrids are still EVs.
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Discussing
Trump 2.0 Era: What's the next opportunity in the markets?
▪️Could Trump's crypto policies potentially benefit the crypto market? ▪️Might his tariff policies have a positive effect on Chinese stocks
Michael McCarthy CCO
Jan 3 11:57
Ask a strategist - Trump's first day
TehChino : but u can't deny the fact that byd cars are produced under china govt subsidies
bullrider_21 OP TehChino : Tesla received USD4.9 billion in government support.
https://www.moomoo.com/community/feed/113726435688454?share_code=01PqCU
Money Thrill TehChino : In Europe there is an preference for Tesla. But expensive for simple citizen. With new car under 30K can make a great difference. But European gouvernement shall put taxes on BYD, except if they are prouced in Europe. And they shall take over production lines from European carmakers because these are in difficulties now. Many factories are closing?
snoopy123 : if it's anything to go by, i think most in Singapore can vouch for seeing more BYD cars on the roads (more mass-market appeal) as compared to Tesla (more atas = higher price point)..![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
it's a bit like having more Toyota cars on the roads versus Mercedes Benz in the not so long ago..
i wonder what the "ground situation" is like in China..