BYD sold 128,196 battery electric vehicles (BEVs) in June 2023, up 84.34 percent from 69,544 units in the same month last year and up 7.18 percent from 119,603 units in May.
This is updating a comparison of BYD and Tesla from May 2023.
BYD sold 616,000 BEVs in the first half of 2023. Tesla sold 888,000 BEV in the first half of 2023. BYD will need to sell an average of about 290,000 units per month in the second half of the year if it is to reach its annual sales target of 3 million units.
Tesla sold 144% BEVs relative to BYD in the first half of the year. Tesla does not have monthly numbers but tends to skew towards more deliveries in the last month of the quarter.
In Q22023, BYD had 356,545 BEV sales versus Tesla at 466,140. Tesla sold 131% BEVs relative to BYD in the second quarter of 2023.
If Tesla has 1060000 sales in the second half and BYD has 840000 (averaging 140,000) then Tesla would be at 126% of BYD BEV sales for the second half.
Tesla has an average selling price of $46000 while BYD BEVs are about an average price of $25000.
If Tesla has 2 million units sold in 2023 and BYD has 1.5 million BEVs sold in 2023 then Tesla would have $92 billion auto revenue and BYD would have $37.5 billion in BEV revenue. Tesla would have 245% of the BEV revenue of BYD. BYD including hybrid car revenue will be about 75 billion in total 2023 sales.
BYD sold about $25 billion worth of battery electric vehicles in 2022 while Tesla sold about $80 billion. BYD total 2022 revenue was about $60 billion. Tesla was about 320% of BYD BEV sales revenue in 2022.
BYD has an average selling price slightly below KIAs and Tesla has average selling prices around the Mercedes C class. Mercedes sold about 2 million cars in 2022. Hyundai has average selling price in the USA of about $35000. Hyundai and Kia sold almost 7 million cars in 2022. Hyundai sold 4 million cars in 2022.
Hyundai has a market valuation of $50 billion while Mercedes has a market valuation of $110 billion. BYD has a market valuation of $100 billion. Tesla has $878 billion market valuation. BYD has 4% of its revenue for net income while Tesla is at 11-13% of revenue for net income.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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My understanding is that enormous numbers of BYD cars are purchased and then wind up in huge fields in China. Part of the reason for this is just to boost sales numbers. There are some videos on YouTube apparently documenting this. Also, it would appear they are prone to spontaneously combust, frequently taking out other vehicles and even buildings nearby. I haven’t attempted to verify it from other sources but, again, the YouTube videos seemed convincing (and distressing).
Apparently there is little regulation of parts suppliers, and even large manufacturers will buy components made in small, unregulated shops that can, themselves, take numerous shortcuts on reliability and safety.
Purportedly, the problem is even worse regarding electric bikes.