Is Tesla really ridiculous compared to BYD in China?

Tesla may have achieved the feat of securing second place among the best-selling cars in China, but the climb to the top position remains steep.

As the world’s largest market for electrified vehicles, China continues to be the best indicator of trends. Therefore, the weekly figures reported by our colleagues at CarNewsChina are interesting for more than one reason. During the period from June 24 to June 30, 2024, Tesla reported 14,100 registrations, reflecting an 18.97% drop compared to the 17,400 units from the previous week and an 18.50% decrease compared to the 17,300 from the previous year.

China is not immune to the global trend of stagnating electric vehicle sales; these figures are therefore not alarming but remain concerning if taken at face value. Upon closer inspection, we see, for example, that new entrants are grabbing significant market share each week. Yes, the competition is here, and it shows no sign of letting the American manufacturer rest. For instance, sales of NIO surged by 44% week-over-week and 68% year-over-year! And what can we say about Xiaomi, which sells 3,200 units of its single car, the SU7, each week, accounting for nearly a quarter of Tesla’s sales.

Tesla, the best of the rest!

However, China remains the stronghold of one manufacturer, the giant BYD, which sold 75,800 cars this week, or 5.4 times more than Tesla! The world’s leading seller of electrified vehicles, on track to also become the leader in electric cars, is currently untouchable. Incredible for a brand with such low recognition in Europe, even though sponsorship of the Euro Football should help remedy that to some extent.

But before mocking Tesla, a few reminders are in order. First and foremost, Tesla receives no subsidies from the Chinese government. Sure, there are likely some small transfers to thank the American manufacturer for employing Chinese labor at its Shanghai Gigafactory, but nothing compared to the flood of Yuan that fills the coffers of local manufacturers. Moreover, Tesla only sells 4 models of electric cars, whereas BYD offers thermal, hybrid, plug-in hybrid, and electric vehicles. They also have buses, trucks, construction equipment, and more.

Far from being ridiculous, Tesla can boast of being the only foreign manufacturer in the Top 10 of Chinese sales. If only it could be the same in Europe…

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