It looks like Tesla’s going to have some competition in China. BYD just sold 162,000 vehicles in July, more than tripling that of last year.
Tesla Sales Vs. BYD Sales
And looking at Tesla in the second quarter, they delivered about 254,000 vehicles under the 256,000 estimate. And that was down about 18% from the 310,000 vehicles they delivered in the first quarter.
And get this, in Q2, BYD sold about 355,000 new energy vehicles, which was up 256% from a year ago. And that was up 24% from the first quarter numbers. Crazy.
And just to clarify that, guys, that new energy vehicle number, 355,000, that includes hybrids as well. So not all in electric vehicles (EVs).
If we’re looking at pure electric vehicle (EV) sales, BYD did 180,000, roughly in the quarter. So right now, when it comes to pure electric vehicles, they’re a little bit behind Tesla.
But they just launched a brand new vehicle called the Seal sedan in late July that’s going to start delivering in August, that is going head to head with the Tesla Model 3 and it’s $10,000 cheaper.
So that is what I’m looking at moving forward here between the battle of BYD and Tesla.