China’s BYD on track to become the world’s top EV seller in 2025, overtaking Tesla

NEW YORK: China’s BYD is on track to become the world’s top electric vehicle (EV) seller in 2025, having sold 2.07 million EVs by November, overtaking Tesla, which had sold 1.22 million EVs by the end of September.

The US carmaker’s fourth-quarter sales are projected to drop to 449,000 vehicles, which would bring its total for the year to 1.65 million—a 7.7% decline from 2024. The number could be even lower, as Deutsche Bank forecasts a weaker fourth quarter with just 405,000 vehicles. According to the bank, Tesla’s sales could fall by about one-third in North America and Europe and by one-tenth in China.

Sales struggles of the US carmaker were linked to the end of a tax credit for US EV buyers in September and political controversies surrounding Tesla CEO Elon Musk, said industry analysts.

While BYD also faced challenges, including profitability in China due to price-conscious consumers, Fitch Ratings’ Director Jing Yang told AFP that the company’s geographical diversification will likely help it “navigate an increasingly complicated global tariff environment.”

Still, Tesla’s upcoming production of its autonomous robotaxi, the Cybercab, and lower-priced versions of its Model 3 and Y could boost its sales in the future. /TISG

Read also: China’s BYD on track to export a million vehicles in 2025

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