Tesla loses EV-market lead to China’s BYD | REUTERS
The electric vehicle Market may have a new Champion China’s byd overtook Tesla on sales over the latest quarter the Warren Buffett backed firm delivered more than 526,000 cars in the October to December period that put it over 31,000 units ahead of its us rival price Cuts
Appear to have paid off for byd analysts say the firm seems willing to take a hit on profits in order to build market share and brand recognition Tesla’s drop to Second Place comes despite record deliveries over the quarter and it’s still ahead of byd over the full year
With 1.8 million deliveries the EV Pioneer increased discounts and stepped up other incentives in recent months that was a bid to boost sales before some of its models lose eligibility for US federal tax credits however Tesla faces growing scrutiny over the safety of its cars having recalled over 2
Million vehicles to install new safeguards in its driver assistance systems Tuesday also saw numbers from smaller Ral rivian it missed estimates for deliveries as high interest rates made cars increasingly expensive for consumers rivan shares plunged nearly 10% following the news
Tesla delivered a record number of electric vehicles in the fourth quarter, beating market estimates and meeting its 2023 target, but lost its spot as the top EV maker to China’s BYD.
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