Overview
- BYD has reported about 2.07 million electric vehicles sold through November, versus Tesla’s roughly 1.22 million through September, pointing to a likely year-end lead pending official totals.
- FactSet projects Tesla’s fourth-quarter deliveries near 449,000 and Deutsche Bank around 405,000, implying roughly 1.65 million units for 2025 and an annual decline.
- Tesla’s third-quarter surge reflected purchases pulled forward before the $7,500 U.S. incentive ended on September 30, followed by a demand adjustment in the fourth quarter.
- BYD is building manufacturing capacity abroad, including in Hungary, and is gaining traction in Europe, with Spanish sales surpassing 30,000 units since 2023.
- Tesla is leaning on autonomous technology as a growth driver, with analysts highlighting FSD and Elon Musk targeting April 2026 to begin Cybercab robotaxi production.