Tesla's Sales Rebound in Q4 2023, Rivian Struggles, BYD Overtakes as Top-Selling EV Maker

Despite increased competition and market share losses, Tesla still dominates half of the U.S. electric car market.

Tesla reported a rebound in sales during the last three months of 2023 after slashing prices and customers rushed to take advantage of tax breaks on electric vehicles.
Tesla's total deliveries for 2023 were 1.8 million vehicles, representing a 38% growth year over year.
Rivian, another electric vehicle maker, reported nearly 14,000 vehicles sold in the last three months of the year, but its shares fell as much as 11% after reporting fewer-than-anticipated deliveries in the fourth quarter.
China's BYD has overtaken Tesla to become the world's top-selling electric car maker, producing 3.02 million new energy vehicles in 2023, ahead of Tesla's 1.84 million.
Despite increased competition, Tesla still accounts for half the electric cars sold in the United States.