Tesla smashed it last quarter but China’s BYD did even better

By Laura He, CNN

Hong Kong (CNN) — BYD outpaced Tesla in the second quarter as the Chinese carmaker posted record sales of hybrid and electric vehicles.

Between April and June, BYD (BYDDF) sold more than 700,000 vehicles, almost double the number sold in the same quarter last year and setting a new quarterly record.

On Sunday, Tesla (TSLA) announced it had achieved its best quarterly results. The company produced nearly 480,000 vehicles and delivered over 466,000.

In June, BYD, which is backed by Warren Buffett, sold a total of 253,046 new energy vehicles, up 89% from a year ago, according to a company filing released Sunday. It was the best monthly sales it has ever achieved. New energy vehicles include both battery powered EVs and plug-in hybrids.

Tesla and BYD are among the bestselling EV makers in the world. BYD still lags behind Tesla globally in terms of pure EV sales. But in China, the Shenzhen-based company has raced ahead as the top brand.

In May, BYD sold around 119,000 pure EVs, more than double from the same period last year.

In comparison, Tesla’s Shanghai Gigafactory delivered 77,695 vehicles in May, up 142% from a year ago, according to the most recent statistics released by the China Association of Automobile Manufacturers.

The-CNN-Wire
™ & © 2023 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.