Despite a 1.1% decrease in global sales, Tesla remains the top EV seller in 2024, edging out Chinese competitor BYD. BYD's overall sales of 'new energy vehicles' (NEVs) surpassed Tesla's, but the Chinese automaker fell short in battery-only passenger vehicles.
US electric vehicle (EV) giant Tesla has recorded its first year of sales decline, but it wasn’t enough for Chinese rival BYD to emerge victorious. Throughout 2024, Tesla delivered 1,789,226 vehicles globally, a 1.1 per cent drop compared to its record figure of 1,808,581 in 2023. The 2024 tally is still an improvement on the 1,313,851 deliveries it achieved in 2022, which led to a 39 per cent increase the year after.
Last year’s decrease could’ve been larger had it not been for a record fourth quarter for Tesla, in which it delivered 495,570 EVs globally, breaking its previous high of 484,507 deliveries in the same period one year prior. The final-quarter surge was also enough for Tesla to fend off BYD for the global EV sales crown, with the Chinese carmaker delivering 1,764,992 battery-only passenger vehicles to global customers in 2024. While this was just 24,234 deliveries shy of Tesla, overall BYD delivered 4,272,145 ‘new energy vehicles’ (NEVs), which includes EVs and plug-in hybrids (PHEVs). For Tesla, the Model Y SUV and Model 3 sedan continue to be its volume products, accounting for 1,704,093 deliveries in 2024, or 95.2 per cent of its total. The two models are the only vehicles it sells in Australia, where its annual deliveries are soon to be announced – and it’s likely the annual tally will have dropped even further than in global markets. Tesla’s Australian sales have declined in nine of the 11 months so far this year, with the EV brand recording 34,754 deliveries to the end of November – 20.9 per cent lower than to the same point in 2023. The drop in Tesla’s deliveries this year has been a major driver in the cooling of EV sales growth in Australia; in contrast, hybrid and plug-in hybrid sales have risen sharpl
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