BYD Sells 4.6 Million Units Last Year, Surpasses Tesla to Become Top Electric Vehicle Seller

Tesla's Q4 Sales Fall Short of Market Expectations
BYD Set to Secure Top Spot in Annual Global Sales
BYD Sees Rapid Surge in Overseas Deliveries

AFP Yonhap News

BYD is expected to surpass Tesla and claim the top spot in global electric vehicle sales for the first time. While Tesla's annual sales last year are projected to fall short of market expectations, BYD has reportedly achieved its annual target of 4.6 million units.

According to Bloomberg on January 1 (local time), BYD sold 4.6 million new energy vehicles last year, meeting its annual sales goal. This figure, which was revised downward last September, represents a 7.7% increase from the previous year. New energy vehicles include both pure electric vehicles and plug-in hybrids.

The market now considers BYD to have overtaken Tesla as the number one electric vehicle seller based on last year's sales. This is the first time BYD has surpassed Tesla in electric vehicle sales. Previously, Tesla posted on its website that its fourth-quarter electric vehicle deliveries last year would fall short of analysts' consensus estimates. On January 2 (local time), Tesla plans to announce that its fourth-quarter deliveries last year totaled 440,900 units, an 11% decrease from the same period the previous year.

BYD's sales were driven by overseas markets. BYD's overseas deliveries in 2025 are expected to reach 1.05 million units. This trend is projected to continue this year as well. According to a report published by Citigroup in November last year, BYD raised its overseas sales target to between 1.5 million and 1.6 million units by 2026.

However, the electric vehicle market has recently faced challenges. The Chinese government has reduced its electric vehicle purchase subsidies, and the launch of numerous new models has intensified competition. In addition, the tariff war with the United States is creating obstacles for overseas expansion plans.

Nevertheless, experts believe BYD maintains a competitive edge. According to analyst forecasts compiled by Bloomberg, BYD's total new energy vehicle sales are expected to increase to 5.3 million units this year. The launch of new models and the unveiling of new technology platforms are cited as factors that will further strengthen BYD's competitiveness.

In contrast, despite Tesla CEO Elon Musk's optimistic outlook on autonomous driving, the company's sales are expected to remain sluggish. This is due to a sharp decline in sales at the beginning of this year as global production lines for the Model Y were restructured. Furthermore, demand has declined as Musk became embroiled in controversy during the Trump administration, and the expiration of the U.S. government's electric vehicle purchase subsidies last September is also considered a negative factor.