Chinese BYD surpasses Tesla in sales for 1st time

BYD posts Q3 revenues of $28.2B, beating Tesla’s $25.2B

By Gokhan Ergocun

ISTANBUL (AA) – Chinese automotive giant BYD outpaced its rival Tesla in car sales for the first time in the third quarter of 2024.

BYD reported revenues of 201.1 billion Chinese yuan ($28.2 billion) from July to September, surpassing Tesla’s $25.2 billion in the same period.

The Chinese automotive giant achieved over one million car sales in the third quarter, delivering 1.1 million units, while Tesla sold around 470,000 units.

Meanwhile, Western countries are taking steps against China’s rising automotive exports. The EU Commission announced additional customs duties on electric vehicle imports from China, and both the US and Canada have introduced a 100% tax on EV imports from China.

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