Is Tesla really losing to BYD, or just playing a different game?
Tesla China and BYD competition is reportedly tipping toward the Chinese automaker. Many assume it is due to the Elon Musk hate seemingly spreading across the globe. However, Musk might not be that much of a factor. Plus, Tesla China might just be playing a different game.
CPCA (China’s Passenger Car Association) data shows that Tesla Giga Shanghai’s deliveries have dipped. Last month, Tesla’s shipments dropped by 49% to 30,688 vehicles, around the same levels as July 2022, when the American carmaker delivered 28,217 units.
Tesla China’s sales records are constantly compared to the country’s biggest NEV maker, BYD. While Tesla’s market share in China has been evening out, BYD’s has steadily risen.
However, it must be noted that Tesla only sells two fully electric vehicles in China. In contrast, BYD’s lineup is extensive and has varying price ranges. The Chinese automaker also offers local customers fully electric and hybrid offerings. Not to mention, BYD is a home-grown brand in China.
Tesla’s Model Y Transition
Tesla Giga Shanghai is currently retooling to prepare for the new Model Y “Juniper” production. The company is retooling multiple factories in different regions across the globe for the new Model Y, which would have impacted Tesla’s recent sales.
For some people, Tesla’s dip in sales in China and other countries is a direct result of Elon Musk’s recent political activities. However, Tesla’s sales in South Korea and the United Kingdom say otherwise. The old Tesla Model Y topped South Korea’s import sales last month. Meanwhile, the Model 3 and Model Y were the second and third best-selling cars in the UK in February–after the Mini Cooper.
Tesla’s robust sales in South Korea and the UK hint that the company’s current sales dip is not permanent and Elon Musk’s political activities will not weigh the EV automaker down in the long term.
In addition, car sales might not be Tesla’s bread and butter in the future. While Tesla’s automotive business currently makes up a big chunk of the company’s financials, its stock price has always reflected its potential as a tech company more. So in the long run, comparing Tesla to BYD would be inaccurate.
The post Is Tesla really losing to BYD, or just playing a different game? appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-vs-byd-china-sales-elon-musk/
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