Tesla Rival BYD Reports Record 2024 EV Sales, Narrows Gap

Benzinga

BYD's December EV sales pushed its yearly total to over one million vehicles. Subsidies and discounts contributed to the surge as BYD competes with Tesla for the title of the world’s best-selling EV maker. BYD's vehicle sales jumped over 41% in 2024, driven by strong demand for hybrid models and price reductions in China, which sells 90% of its vehicles. Intense competition and government incentives fueled EV adoption, extending BYD's lead over brands like Volkswagen and Toyota. Tesla is set to release its quarterly sales figures later on Thursday.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02BYD's December EV sales pushed its yearly total to over 1 million vehicles.

00:06Subsidies and discounts contributed to the surge as BYD competes with Tesla for the title of the

00:11world's best-selling EV maker. BYD's vehicle sales jumped over 41% in 2024, driven by strong

00:18demand for hybrid models and price reductions in China, where it sells 90% of its vehicles.

00:23Intense competition and government incentives fueled EV adoption, extending BYD's lead over

00:28brands like Volkswagen and Toyota. Tesla is set to release its quarterly sales figures

00:33later on Thursday. For all things money, visit Benzinga.com slash GSTV.

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