BYD says they beat Tesla as best selling EV brand in Q4 2023

Tesla may be the most popular brand when it comes to electric vehicles (EVs), but its closest rival BYD is closing the gap fast.

Just a couple of days ago, BYD announced that it has sold over 3 million electrified vehicles in 2023, marking a significant 61.9% increase compared to last year's performance. More importantly, December saw sales surge to 341,043 units, a 45% increase which helped BYD sell a total of 3,024,417 electrified vehicles throughout the year.

With 3.02 million vehicles sold in 2023, BYD was able to overtake Tesla as the American company was only able to sell a total of 1.84 million units. However, BYD's total sales include 1.57 million battery electric vehicles (BEVs) and 1.4 million hybrids. This means Tesla is still the market leader for BEVs. But with BYD closing in, Tesla has to watch out for the Chinese automaker.

Also impressive was the fact that BYD overtook Tesla in BEV sales during Q4 2023. Based on the figures, BYD sold 526,000 EVs during the last quarter of 2023 while Tesla shifted 484,000 EVs in the same period.

For BYD, these achievements not only allowed them to become a global new energy vehicle (NEV) sales champion but also marked BYD being listed among the global top 10 car sales for the first time. In the Chinese market alone, BYD retained its position as the best-selling car brand and manufacturer.

One of the most significant factors to BYD retaining its position as well as beating Tesla in Q4 2023 EV sales is the brand's leap in exporting its vehicles. Just last year, the brand's international market presence surged with exports growing by 334.2% which translates to 242,765 units delivered. BYD was also able to reach over 70 countries across six continents.

In the local setting, BYD Philippines is now under the distributorship of AC Motors, Ayala Corporation's automotive division. Under its leadership, the automaker was able to drop the price of the Dolphin and launch the Atto 3 crossover EV. In the future, BYD Philippines plans to open more dealerships, launch more EVs, as well as put more charging stations in the country.