Overview
- BYD sold 2.07 million battery-electric vehicles by the end of November 2025, based on reported figures.
- Tesla reported 1.22 million deliveries through September, with estimates of roughly 450,000 in the fourth quarter pointing to a full-year total near 1.65–1.67 million.
- BYD shares rose strongly on the sales lead, though both BYD and Tesla logged underwhelming year-to-date performance compared with their home markets.
- BYD is expanding exports and building production in Europe and other regions to reduce tariff exposure and support growth.
- Tesla faced demand pressure after U.S. tax incentives expired and as some buyers pulled back following Elon Musk’s political engagement, with Deutsche Bank forecasting just over 400,000 Q4 deliveries.