Chinese automaker BYD reported selling 526,409 fully electric vehicles (EVs) in the fourth quarter of 2023, potentially surpassing Tesla’s sales figures for the same period, Bloomberg reports.
BYD’s strong performance was boosted by aggressive year-end discounts, with December sales reaching 340,178 electric and hybrid vehicles, with 190,754 being fully electric. Analysts estimate that Tesla is expected to report around 483,200 units sold in the same quarter.
BYD’s total sales for 2023 reached 3.01 million units, contributing to its rapid growth and positioning it among the top 10 global car sales. Despite BYD’s strong sales performance in 2023, its shares declined by nearly 24%.
