The Chinese automaker achieved a new monthly sales record in December, closing the gap with Tesla
A BYD released a report with its production and sales volume for December 2024, this Wednesday (1st January 2025). Here is the full text (714 kB). The Chinese manufacturer recorded a significant increase in sales of EVs (Electric Vehicles), reaching a total of 4.25 million of units sold in 2024.
This performance puts the company in fierce competition with for the title of best-selling electric vehicle manufacturer of the year.
BYD’s transition to exclusive production of non-fossil fuel vehicles, starting in 2022, contributed to record sales in December, with 509,440 passenger vehicles sold, including 207,734 EVs, marking a 41% increase year-on-year previous.
Meanwhile, traditional manufacturers such as Nissan Motor, Volkswagen and Stellantis face challenges, including falling sales in China and delays in the transition to electric vehicles.
Tesla, under the leadership of Elon Musk, is awaiting the release of sales figures for the 4th quarter, needing to deliver at least 515,000 electric cars to reach its annual target. Estimates suggest Tesla could achieve around 510,400 deliveries.
NEW MILESTONES
BYD, which surpassed Tesla in quarterly sales just once at the end of 2023, is consolidating itself as a dominant force in the global auto market. The company is close to surpassing Ford Motor Co. and Honda Motor Co. in annual sales, with revenues projected to exceed US$100 billion for the first time, benefiting mainly from the Chinese domestic market, supported by policies to encourage adoption of electric vehicles.
However, BYD’s international expansion faces challenges such as imposed by the European Union on Chinese electric vehicles. In Brazil, the company is under for allegations of working conditions analogous to slavery in the construction of a new electric vehicle factory in Camaçari, Bahia.
