In 2023, the battle for the leadership of electric vehicles will basically be between Tesla and BYD. However, in the end, Tesla won the global electric vehicle sales championship through the sales of Model 3 and Model Y. Although BYD took a turn in the final quarter, Overtaking, but ultimately ranked second with sales of approximately 1.57 million.

 

  Tesla and BYD are currently the leaders in the global electric vehicle market, but their business models can be said to be very different. BYD still focuses on the traditional model, and sells electric vehicles ranging from Seagull to high-end models. coverage, and the original factory continues to sell PHEV/Hybrid models, while Tesla has a completely new model, including production, sales, and after-sales, which are different from traditional car companies, and Tesla’s current models are completely All are pure electric vehicles.

 

  According to data released by Tesla, because its super factories in California, Texas, Berlin, Germany, and Shanghai, China were at full capacity, 1,808,581 electric vehicles were sold throughout the year, including Model Y and Model 3. About 1.73 million vehicles were sold, which became the main reason why Tesla won the championship.

 

  As for BYD, it sold 3,024,417 new cars in 2023, setting a record high, but 1,438,084 of them were PHEV/Hybrid models, accounting for 47.73% of sales. As for pure electric vehicles, the sales volume was 1,574,822. Although BYD's pure electric vehicle sales surpassed Tesla's in the fourth quarter, Tesla still leads BYD in pure electric vehicle sales by more than 200,000 in the full-year comparison.

  Both sides have different advantages and disadvantages. First let’s talk about Tesla:

 

  Advantage:

 

1. Sales of Model 3 surged after the minor facelift, becoming a new sales growth point;

2. It is expected that Model Y will also launch a facelift in the second quarter to boost sales;

3. The production capacity of the four super factories is sufficient to meet consumer demand;

4. Cybertruck begins delivery;

5. Model 2 may be released in 2024 and priced below $25,000.

 

  Disadvantages:

 

1. The decline in global demand for electric vehicles may affect performance;

2. There are doubts about the production and delivery of Cybertruck and Model 2;

3. The discontinuation of Model Y models before the facelift may affect its sales performance.

  Let’s talk about BYD:

  Advantage:

 

1. China’s continued subsidies can push up the stock of electric vehicles;

2. Low-priced electric vehicles can further increase international sales;

3. The trend of international oil prices;

4. BYD’s own production capacity and supply chain control.

 

  Disadvantages:

 

1. The growth rate of electric vehicles in China is lower than expected;

2. The average product price and profit are not as good as Tesla.

 

  So in fact, there is still a question about who will win in 2024, but no matter which company it is, we cannot deny that their products are one of the best currently.