Tesla vs BYD: The Volkswagen Group was unable to maintain its lead.
The sale of battery-electric vehicles (BEVs) increased significantly once more in the second quarter of 2023.
In this article, we will examine the global sales figures for the three biggest automakers (OEMs)—Tesla, BYD, and Volkswagen Group.
The three OEMs all saw an increase in performance year over year, but the rankings remained the same as they were in Q1. With 466,140 units sold and a very significant 83 percent rise year-over-year, Tesla is the market leader, Electric car models: Tesla has recalled three of its electric car models.
With 352,163 units, BYD is the second-largest player, but its growth rate is even greater than Tesla’s (up 95% year-over-year). Given that BYD attained almost 76 percent of Tesla’s volume, compared to 71 percent a year ago, the gap between the two appears to be closing.
The Volkswagen Group, with 180,239 sales units and a growth rate of 53% from the previous year, is the third OEM. Although the German manufacturer’s performance are encouraging, the data shows that it is unable to grow as swiftly as Tesla and BYD. The relative distance is growing as a result.
Results of BEV sales in Q2 2023: Tesla vs BYD
- Tesla: 466,140 (up 83% year-over-year)
- BYD (cars): 352,163 (up 95% year-over-year) or 76% of Tesla’s result Difference to Tesla: 113,977 (up 53% year-over-year)
- Volkswagen Group: 180,239 (up 53% year-over-year) or 39% of Tesla’s result
Tesla sold approximately 900,000 units in the first half of the year, while BYD sold more than 600,000. Currently, the Volkswagen Group has sold over 300,000 units, which is roughly half of BYD’s volume.
With a very strong growth rate, BYD soon might be able to challenge Tesla, but probably not yet in 2023.
BEV sales results in Q1-Q2 2023:
- Tesla: 889,015 (up 57% year-over-year)
- BYD (cars): 616,810 (up 91% year-over-year) or 69% of Tesla’s resultDifference to Tesla: 272,205 (up 13% year-over-year)
- Volkswagen Group: 321,091 (up 48% year-over-year) or 36% of Tesla’s resultDifference to Tesla: 567,924 (up 63% year-over-year)
For comparison, in 2022, Tesla delivered more than 1.3 million electric vehicles (up 40% from the previous year), BYD sold more than 0.9 million (up 184%), and Volkswagen Group sold more than 0.57 million (up 26%).