Elon Musk’s company leads vehicle sales in the world, but BYD is close behind and could surpass it. How is the electric car market?
Tesla, Elon Musk’s electric car company, has already manufactured 5 million vehicles in almost 20 years of life and 1.4 million of that total occurred in 2022, while, for this year, the figure is expected to reach 1.8 million. Without a doubt, she is a leader in the field, although business has not been going so well lately and BYD (Build Your Dreams), a Chinese brand, is fighting for her reign.
And the company was about to surpass Tesla in the third quarter of 2023 in sales. BYD has sold a total of 1.05 million and was 275,602 units behind Teslawhich between January and September has a total of 1.32 million.
In fact, shares of BYD, a company listed in Hong Kong, rose 1.7% on the stock market due to its solid results, while Tesla fell 17%. However, the shares of Elon Musk’s company have risen twice as much as those of the Chinese company so far this year. Investors are awaiting the presentation of its third quarter results.
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Also, as was said, Tesla aims to sell almost 1.8 million electric cars throughout the year, while BYD it would be around 1.5 million cars.
follows it in sales Volkswagen Group, which between January and June sold a total of 321,600 electric units. It is almost 300,000 units away from BYD and more than 500,000 units away from Tesla.
Another notable company is Grupo Saic, a Chinese manufacturer that owns MG, which has sold a total of 309,000 units of electric cars in the first half of the year. While the Stellantis Group, as of June, has registered a total of 169,000 cars worldwide, about 152,600 cars less than Volkswagen, about 447,810 cars less than BYD and 720,015 cars less than Tesla.
Source: Ambito
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