BYD Outsells Tesla in 2022, Delivering 1.86 Million Units, Mainly in China

[beijingwalker]

BYD Outsells Tesla in 2022, Delivering 1.86 Million Units, Mainly in China​

Its December EV sales rose 4% to 235,197 units.​

Tech Times 03 January 2023, 10:01 am

BYD set a new monthly sales record for electric vehicles (EVs) in December 2022.

This solidifies the company's position as the world's leading seller of cars powered by non-fossil fuels and proves investor Warren Buffett's Berkshire Hathaway right to have trust in BYD.

Shenzhen-based automaker BYD reported to the Hong Kong stock market that December sales of its all-electric automobiles increased by 4% from November to 235,197 units.

In a report by South China Morning Post (SCMP), BYD's 2022 sales more than quadrupled to 1.86 million units, most of which were sold in China.

Booming sales to taxi fleets and budget-conscious individuals show how layoffs in China's tech sector and the pandemic-ravaged economy drive buyers toward cheaper, locally-built EVs instead of imported models or global names like Tesla.

Economic Edge​

As the Chinese economy slows, "BYD is a beneficiary of the consumption downgrade," said Eric Han, senior manager at Shanghai-based advising company Suolei.

Vehicles in the mass market segment are popular among China's middle class because they are considered a good bargain.

Compared to Tesla and other rivals like Nio and Xpeng, whose technology-packed models retail for more than 300,000 yuan ($43,500) apiece, the average price of a BYD is between 100,000 yuan and 200,000 yuan ($14,500-$29,000).

Consumers tightened their belts, especially on big-ticket products like vehicles, due to China's zero-Covid policy. Notably, the lockdowns within the nation led to the halt of orders throughout the mainland in 2022 and wrecked the world's second-largest economy.

"EVs priced below 200,000 yuan are popular among white-collar consumers because they want to save money," according to Tian Maowei, sales manager at Yiyou Auto Service in Shanghai.

BYD's high-performance batteries are often regarded as being on par with those used by luxury automakers, making the company's electric and plug-in hybrid vehicles hot sellers in China.

Against Tesla​

When it overtook Elon Musk's Tesla as the market leader, BYD (which had its origins as a battery company) broke monthly sales records for ten months in a row since March 2022.

As of Dec. 8, 2022, Berkshire Hathaway held 14.9% of the BYD shares listed in Hong Kong.

As a result of delivering just 405,278 EVs throughout the globe in the last three months of 2022, Tesla saw its stock price fall by an all-time low, missing Wall Street's quarterly sales expectation by 6%.

While the 1.31 million units shipped worldwide last year were up 40% from the previous year, it was still 29% behind BYD's revenues.

BYD was established in 1995 by Chinese tycoon Wang Chuanfu, and the company has been manufacturing automobiles since 2003. Its primary market is mainland China, but the company also has ambitions to enter other markets.

When it comes to luxury electric vehicles on the mainland, Tesla is still far and away in the lead.

More than 390,000 Model 3 and Model Y cars were shipped out of the company's Gigafactory in Shanghai to Chinese clients in the year's first 11 months. It is an increase of 21.5% compared to the company's full-year sales of 321,000 units in 2021.

BYD Outsells Tesla in 2022, Delivering 1.86 Million Units, Mainly in China

Its December EV sales rose 4% to 235,197 units.

www.techtimes.com

 

[F-22Raptor]

BYD Outsells Tesla in 2022, Delivering 1.86 Million Units, Mainly in China​

Its December EV sales rose 4% to 235,197 units.​

Tech Times 03 January 2023, 10:01 am

BYD set a new monthly sales record for electric vehicles (EVs) in December 2022.

This solidifies the company's position as the world's leading seller of cars powered by non-fossil fuels and proves investor Warren Buffett's Berkshire Hathaway right to have trust in BYD.

Shenzhen-based automaker BYD reported to the Hong Kong stock market that December sales of its all-electric automobiles increased by 4% from November to 235,197 units.

In a report by South China Morning Post (SCMP), BYD's 2022 sales more than quadrupled to 1.86 million units, most of which were sold in China.

Booming sales to taxi fleets and budget-conscious individuals show how layoffs in China's tech sector and the pandemic-ravaged economy drive buyers toward cheaper, locally-built EVs instead of imported models or global names like Tesla.

Economic Edge​

As the Chinese economy slows, "BYD is a beneficiary of the consumption downgrade," said Eric Han, senior manager at Shanghai-based advising company Suolei.

Vehicles in the mass market segment are popular among China's middle class because they are considered a good bargain.

Compared to Tesla and other rivals like Nio and Xpeng, whose technology-packed models retail for more than 300,000 yuan ($43,500) apiece, the average price of a BYD is between 100,000 yuan and 200,000 yuan ($14,500-$29,000).

Consumers tightened their belts, especially on big-ticket products like vehicles, due to China's zero-Covid policy. Notably, the lockdowns within the nation led to the halt of orders throughout the mainland in 2022 and wrecked the world's second-largest economy.

"EVs priced below 200,000 yuan are popular among white-collar consumers because they want to save money," according to Tian Maowei, sales manager at Yiyou Auto Service in Shanghai.

BYD's high-performance batteries are often regarded as being on par with those used by luxury automakers, making the company's electric and plug-in hybrid vehicles hot sellers in China.

Against Tesla​

When it overtook Elon Musk's Tesla as the market leader, BYD (which had its origins as a battery company) broke monthly sales records for ten months in a row since March 2022.

As of Dec. 8, 2022, Berkshire Hathaway held 14.9% of the BYD shares listed in Hong Kong.

As a result of delivering just 405,278 EVs throughout the globe in the last three months of 2022, Tesla saw its stock price fall by an all-time low, missing Wall Street's quarterly sales expectation by 6%.

While the 1.31 million units shipped worldwide last year were up 40% from the previous year, it was still 29% behind BYD's revenues.

BYD was established in 1995 by Chinese tycoon Wang Chuanfu, and the company has been manufacturing automobiles since 2003. Its primary market is mainland China, but the company also has ambitions to enter other markets.

When it comes to luxury electric vehicles on the mainland, Tesla is still far and away in the lead.

More than 390,000 Model 3 and Model Y cars were shipped out of the company's Gigafactory in Shanghai to Chinese clients in the year's first 11 months. It is an increase of 21.5% compared to the company's full-year sales of 321,000 units in 2021.

BYD Outsells Tesla in 2022, Delivering 1.86 Million Units, Mainly in China

Its December EV sales rose 4% to 235,197 units.

www.techtimes.com

Tesla sold 1.3M EVs

BYD sold 911K EVs

Stop using PHEVs to pump BYDs number

 

[beijingwalker]

Tesla sold 1.3M EVs

BYD sold 911K EVs

Stop using PHEVs to pump BYDs number

Can you read?

BYD's 2022 sales more than quadrupled to 1.86 million units, While the 1.31 million units shipped worldwide last year were up 40% from the previous year for Tesla, it was still 29% behind BYD's revenues.

 

[F-22Raptor]

Can you read?

BYD's 2022 sales more than quadrupled to 1.86 million units, While the 1.31 million units shipped worldwide last year were up 40% from the previous year for Tesla, it was still 29% behind BYD's revenues.

Half of BYDs sales are PHEVs which Tesla will never sell. BYD had a great year, but they did not sell more BEVs than Tesla in 2022.

 

[beijingwalker]

Half of BYDs sales are PHEVs which Tesla will never sell. BYD had a great year, but they did not sell more BEVs than Tesla in 2022.

Many news channels from different countries reported the same result, you can write to all of them to complain and demand a correction.
By the way, most Teslas are also made in China, Tesla is a foreign brand but it's Chinese cars' half brother, almost all the parts are from the Chinese suppliers.

 

[F-22Raptor]

Many news channels from different countries reported the same result, you can write to all of them to complain and demand a correction.
By the way, most Teslas are also made in China, Tesla is a foreign brand but it's Chinese cars' half brother, almost all the parts are from the Chinese suppliers.

Because they don’t do enough research to understand the difference between PHEVs and BEVs. They see a headline number BYD reports and roll with it.

Tesla sold more BEVs than BYD in 2022. That’s a fact. Not to mention Tesla is far more profitable than BYD.

 

[beijingwalker]

Because they don’t do enough research to understand the difference between PHEVs and BEVs. They see a headline number BYD reports and roll with it.

Tesla sold more BEVs than BYD in 2022. That’s a fact. Not to mention Tesla is far more profitable than BYD.

So just write to them to complain, they all reported the same result, ignoring a genius like you.

 

[silverox]

BYD's car, now looks good, but ten years ago, BYD's car looked very bad

 

[kankan326]

US government: Does BYD boss has daughter or son?

 

[beijingwalker]

US government: Does BYD boss has daughter or son?

Very American approach.

 

[K_Bin_W]

US government: Does BYD boss has daughter or son?

Hehe - Let's kidnap her/him....

 

[SaadH]

Because they don’t do enough research to understand the difference between PHEVs and BEVs. They see a headline number BYD reports and roll with it.

Tesla sold more BEVs than BYD in 2022. That’s a fact. Not to mention Tesla is far more profitable than BYD.

Does that also include carbon credits that Tesla sold and includes in it's income?

 

[从八品主簿]

Many news channels from different countries reported the same result, you can write to all of them to complain and demand a correction.
By the way, most Teslas are also made in China, Tesla is a foreign brand but it's Chinese cars' half brother, almost all the parts are from the Chinese suppliers.

Tesla sold 1.3M EVs

BYD sold 911K EVs

Stop using PHEVs to pump BYDs number

It is true that pure electric vehicles have not surpassed Tesla. However, the Chinese market is currently the world's most accepting market for hybrid vehicles. Compared with vehicle electrification, the Chinese market may care more about intelligence

 

[REhorror]

Just read the news, is it over for our boy Yilong Mask?

 

[Beast]

Just read the news, is it over for our boy Yilong Mask?

Yes. Tesla is doomed. They even need to give discount. Lol..

@F-22Raptor poor thing. What happened to your Tesla $800 per shares prediction? Now is USD 108, Tomorrow will be $99 only.