Tesla delivered 443,956 vehicles in the second quarter, above Wall Street analysts' estimates of 439,302.
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Category: Quarterly Data
In the first quarter, Tesla delivered 386,810 vehicles while BYD delivered 300,114 BEVs.
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BYD sold 526,409 passenger BEVs in the fourth quarter, 8.65 percent higher than Tesla's 484,507 global deliveries.
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BYD has caught up with Tesla's 17 percent share of the global BEV market in the third quarter and is expected to overtake Tesla as the global leader in the fourth quarter, Counterpoint Research said.
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Tesla delivered 435,059 vehicles globally in the third quarter, down 6.67 percent from the second quarter. The decline was due to planned downtimes for factory upgrades, Tesla said.
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Tesla Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, beating market expectations of 437,400 and contributing 96 percent of deliveries.
Tesla (NASDAQ: TSLA) saw another record quarter of deliveries.
The US electric vehicle (EV) giant delivered 466,140 vehicles worldwide in the second quarter, up 83.02 percent year-on-year and up 10.23 percent from 422,875 in the first quarter, according to its overnight announcement.
It was also a new record for Tesla's EV deliveries and higher than the 448,400 units Wall Street analysts had expected.
Tesla's cheaper Model 3 and Model Y delivered 446,915 units worldwide in the second quarter, above market expectations of 437,400 units, contributing 96 percent of deliveries. A total of 19,255 Model S and Model X units were delivered, above expectations of 14,600 units.
Tesla produced 479,700 vehicles in the second quarter, including 460,211 Model 3 and Model Y, and 19,489 Model S with Model X.
Tesla's production and delivery gap was 13,560 units in the second quarter, down from 18,000 units in the previous quarter.
Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after it cut prices in China on January 6.
In early May, the company raised the prices of all Model 3s and Model Ys in China, all by 2,000 yuan ($275), an increase of less than 1 percent. The move was thought to be more aimed at dampening consumers' wait-and-see sentiment at the time.
In China, Tesla has a factory in Shanghai that produces the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.
Tesla does not officially announce its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.
Tesla's retail sales in China in April and May were 39,956 and 42,508, respectively, and its Shanghai plant exported 35,886 and 35,187 units in the two months, according to the CPCA.
The company's June sales figures in China are expected to be available in a few days.
BYD (OTCMKTS: BYDDY), one of Tesla's main competitors in China, delivered 703,561 new energy vehicles (NEVs) in the second quarter, including 700,244 passenger cars and 3,317 commercial vehicles, according to data released yesterday.
BYD's passenger vehicle sales in the second quarter included 352,163 battery electric vehicles (BEVs) similar to Tesla vehicles and 348,081 plug-in hybrid vehicles (PHEVs).
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BYD sells record 253,046 NEVs in Jun, sales in H1 exceed 1.25 million
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The US overtook Germany as the world's second-largest EV market in the first quarter, while China remained in the lead, Counterpoint said.
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In the first quarter, the US overtook Germany as the world's second-largest electric vehicle (EV) market, while China still holds the lead, market research firm Counterpoint Research said in a report yesterday.
Global passenger EV sales grew 32 percent year-on-year in the first quarter, with one in seven vehicles sold in the quarter being electric, the report said.
Global EV sales were largely driven by China with 56 percent of total EV sales in the first quarter coming from this market, said Abhik Mukherjee, a research analyst at Counterpoint.
In China, while overall passenger vehicle sales fell 12 percent in the first quarter, EV sales rose a remarkable 29 percent year-on-year, the report said.
The removal of subsidies for NEV purchases in China led to lower-than-expected EV sales in January.
Tesla cut prices on its models globally in January, and then other car brands announced similar price cuts on their models starting in February, which led to improved sales of EVs, the report said.
During the February-March period, nearly 40 automakers, including BYD, NIO, XPeng, Volkswagen, BMW, Mercedes-Benz, Nissan, Honda and Toyota, cut the prices of their vehicles by hundreds to tens of thousands of dollars, which eventually stoked a competitive price war in China, the report noted.
Initially, it was thought that the price war would soon be over and the automakers would benefit from increased sales. However, as the price war continues to stretch, several Chinese automakers have reported reduced earnings or even losses, according to the report.
Globally, battery electric vehicles (BEVs) accounted for 73 percent of all EV sales in the first quarter, while plug-in hybrid electric vehicles (PHEVs) made up the rest.
The top 10 EV models accounted for 37 percent of total passenger EV sales in the first quarter, with Tesla's Model Y remaining the world's best-selling model, followed by Tesla's Model 3 and BYD's Song, Counterpoint said.
In the first quarter, Tesla's Model Y became the world's best-selling passenger car model, even surpassing traditional fuel cars, according to the report.
By the end of 2023, global EV sales are expected to exceed 14.5 million units, said Soumen Mandal, senior analyst at Counterpoint, adding that US EV sales are expected to grow significantly this year with the implementation of the tax credit subsidy.
China NEV retail up 10.5% MoM to 580,000 in May, CPCA data show
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Tesla's first-quarter deliveries were higher than BYD's 264,647 passenger BEVs, but lower than the latter's 552,076 NEVs, including PHEVs.
Tesla saw record electric vehicle (EV) deliveries in the first quarter, as price cuts reinvigorated demand.
The US EV maker delivered 422,875 units worldwide in the first quarter, up 36.39 percent from 310,048 units a year earlier and up 4.34 percent from 405,278 in the fourth quarter, according to its announcement on April 2.
The deliveries exceeded Wall Street analysts' expectations of 421,200 units, with Tesla's cheaper Model 3 with Model Y deliveries exceeding expectations.
Tesla delivered 412,180 Model 3 and Model Y units worldwide in the first quarter, above market expectations of 408,500. A total of 10,695 Model S and Model X units were delivered, below expectations of 16,700.
Tesla produced 440,808 vehicles in the first quarter, including 421,371 Model 3 and Model Y, and 19,437 Model S and Model X.
"We continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC," Tesla wrote in an announcement.
The company will announce its first-quarter financial results after the market closes on Wednesday, April 19, and its management will hold a live webcast question-and-answer session at 4:30 pm US Central Time that day.
Tesla cut prices globally earlier this year, and its starting price for the Model 3 sedan came to an all-time low after its move in China on January 6.
In China, Tesla has a factory in Shanghai that makes the Model 3 and Model Y. It's the largest Tesla factory in the world, with an annual capacity of about 1.1 million units a year.
Tesla does not publish its deliveries in China, though the China Passenger Car Association (CPCA) publishes those numbers every month.
Tesla's deliveries in China in January and February were 26,843 and 33,923 units, respectively, and its Shanghai plant exported 39,208 and 40,479 units in the two months, according to the CPCA. March figures are expected to be available in the next few days.
BYD (OTCMKTS: BYDDY) and Tesla are the two biggest players in China's new energy vehicle (NEV) market, with the former producing plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs) and the latter producing only BEVs.
Tesla delivered more BEVs than BYD in the first quarter, but the latter's combined sales of PHEVs and BEVs were larger.
In the first quarter, BYD's NEV sales, including PHEVs and BEVs, were 552,076 units, up 92.81 percent year-on-year but down 19.22 percent from the fourth quarter of last year, according to data released yesterday.
BYD's passenger BEVs sold 264,647 units in the first quarter, up 84.78 percent year-on-year but down 19.56 percent from the fourth quarter.
BYD's passenger PHEVs sold 283,270 units in the first quarter, up 100.17 percent year-on-year but down 19.76 percent from the fourth quarter.
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