Home
Search History
Clear History
{{item.search_key}}
Hot Searches
Change
{{item.name}}
{{item.english_name}}
Subscribe eNews
Once A Week Once Every Two Weeks
{{sum}}
{{sum}}
Login

Please Login

Subscribe To Tags, See What You Want To See

Sign Up For Events, Expand your network

Unlock Private Messages, Participate In Interactions

 Register

Hi.{{userInfo.company_name_english||userInfo.truename_english}} Hi.{{userInfo.truename||userInfo.phone||userInfo.email}}

Applications

Coca-Cola Foundation grants US$15 million to tackle plastic waste in Asia

Foxconn reported to bid for Nissan

Berry’s dry packaging solution with PCR content for mortar

Products

Pallet/crate molds

Electric vehicle mold

Arkema and start-up develop gas separation membranes for carbon capture

Activities

  • Round Table at Fakuma 2023: “Plastic – Recyclable Rather Than Problem Material!”

  • ArabPlast 2023 – The Success Journey Continues………..

  • GREAT NEWS! INAPA 2023 IS COMING BACK 24 - 26 May 2023 at JIExpo Jakarta, Indonesia

Pictorial

Industry Topic

ASEAN: The Next Manufacturing Hub

Innovative and Sustainable Packaging

Green Plastics: News & Insights

CHINAPLAS

CHINAPLAS 2024 Focus

CHINAPLAS 2023 Focus

Exhibition Topic

Fakuma 2024 Highlights

CHINA FOCUS

K 2022 FOCUS

News Videos

5,000 people join SACMI's 105th ‘birthday party’

AOJIE-Professional custom plastic injection molds for households, motorcycles, and automotive parts

stretch film making machine

Conference Videos

【Mandarin session:Webinar playback】BASF:Tinuvin® NOR® 211 AR - High performing and value-in-use NOR® HALS® that can resist high levels of UV light, heat and acids

[Webinar playback] SABIC Webinar : Enabling a Circular Economy for Plastics Together

【Mandarin session:Webinar playback】The new generation application of Siriusvision inspection technology in the printing industry

Corporate/Product Videos

six cavity high speed aotumatic blowing machine

4cavity fully aotumatic blowing machine

5L-10L LG Close-packedHeating Automatic Blow MoldingMachine

Exhibition

Playback TECHHUB@CPRJ Live Streaming for CHINAPLAS

Events

Playback 5th Edition CHINAPLAS x CPRJ Plastics Recycling and Circular Economy Conference and Showcase

News
NEW
HOT
 Events
NEW
HOT
 Special
NEW
HOT
 Video
NEW
HOT
 Live
NEW
HOT
 eNews
NEW
HOT
 eBook
NEW
HOT
 Event Calendar
NEW
HOT
 Survey
NEW
HOT
 CHINA FOCUS
NEW
HOT

Home > News > Automotive

BYD overtakes Tesla in EV sales in first half of 2023, reports Finbold

Source：Adsale Plastics Network Date ：2023-09-12 Editor ：RC
Copyright： Original work. Please do not reprint.

The electric vehicle (EV) sector undergoes a significant transformation in terms of market share in 2023. While Tesla has been the leader in EVs for a long period, the first-half year experienced a remarkable global market share dynamic shift, with China-based BYD stealing the spotlight.

 

Finbold, a financial news platform which provides financial news on stock market, banking and other relevant sectors, acquired data on Plug-in EVs sales in the first half of 2023.

 

According to Finbold’s data, BYD sold over 1,191,405 EVs, representing an average of 198,567 units per month, in the first-half year. BYD’s unit sales surpassed Tesla’s 888,879 by 302,526 vehicles. The units include battery EVs and plug-in hybrid EVs.



EV sales chart_480.jpg

Finbold’s data reflect that BYD’s EVs sales surpassed Tesla’s in the first half of 2023.

 

Other top sellers include BMW, with 220,795 units; followed by GAC Aion at 212,090 EVs and Volkswagen sold 209,852 units.

 

Notably, among the top eight EV sellers, only manufacturers from China, Germany and the US are represented. Among them, China accounts for four manufacturers, or 50% of the list.

 

BYD’s strategic advantages in Chinese market

 

Finbold’s research found that several factors, specifically from the domestic market, have contributed to the Chinese brand’s success.

 

BYD has been committed to offer value for money. As the company’s vehicle models are priced lower than their foreign competitors, it coincides with local demand for homemade affordable products amid a slowing Chinese economy.


BYD EV_480.jpg 


BYD fulfils local customers' demand for homemade affordable products.

 

BYD demonstrates a high cost-efficiency in its production – it manufactures most components itself, and any others it does not produce are readily available from Chinese suppliers. With such cost reduction and high cost-efficiency, it is particularly advantageous during supply chain disruption in pandemic, which affected manufacturers like Tesla, the research says.

 

During the COVID-19 pandemic, BYD’s strategic location in Shenzhen also contributes to its success as the city experienced fewer stringent lockdown measures than Shanghai, where Tesla operates its largest overseas plant.

 

In addition, like other Chinese EV manufacturers, BYD has thrived from incentives offered by the Chinese government such as subsidies and tax breaks, to encourage the adoption of low-emission vehicles.

 

Tesla’s action to catch up

 

On the other hand, like many other companies, one of the reasons that causes Tesla’s trailing behind BYD is the supply chain disruption due to pandemic, which affected its production numbers. However, the company aims to catch up with its competitors by commencing production at the Austin facility in the US.

 

The company has implemented several strategic measures to boost sales, including significantly reducing prices, especially for older models. CEO Elon Musk also hinted in July that the company may continue with such reductions in the future.

 

Finbold’s research also pinpoints that China ranks top among Tesla’s markets. The American EV leader has also reduced prices in the region while increasing discounts and other incentives to manage inventory and protect against competition and economic uncertainty.


 Like 丨  {{details_info.likes_count}}
BYD
Electric vehicles
Automotive
Tesla
 KRAIBURG TPE      
 Rongsheng Petrochemical Co., Ltd.      
 GUANGDONG HTASO NEW MATERIALS TECHNOLOGY CO.,LTD      
 TAIZHOU HUANGYAN AOJIE PLASTIC MOULD CO., LTD.      

The content you're trying to view is for members only. If you are currently a member, Please login to access this content.   Login

Source：Adsale Plastics Network Date ：2023-09-12 Editor ：RC
Copyright： Original work. Please do not reprint.

The electric vehicle (EV) sector undergoes a significant transformation in terms of market share in 2023. While Tesla has been the leader in EVs for a long period, the first-half year experienced a remarkable global market share dynamic shift, with China-based BYD stealing the spotlight.

 

Finbold, a financial news platform which provides financial news on stock market, banking and other relevant sectors, acquired data on Plug-in EVs sales in the first half of 2023.

 

According to Finbold’s data, BYD sold over 1,191,405 EVs, representing an average of 198,567 units per month, in the first-half year. BYD’s unit sales surpassed Tesla’s 888,879 by 302,526 vehicles. The units include battery EVs and plug-in hybrid EVs.



EV sales chart_480.jpg

Finbold’s data reflect that BYD’s EVs sales surpassed Tesla’s in the first half of 2023.

 

Other top sellers include BMW, with 220,795 units; followed by GAC Aion at 212,090 EVs and Volkswagen sold 209,852 units.

 

Notably, among the top eight EV sellers, only manufacturers from China, Germany and the US are represented. Among them, China accounts for four manufacturers, or 50% of the list.

 

BYD’s strategic advantages in Chinese market

 

Finbold’s research found that several factors, specifically from the domestic market, have contributed to the Chinese brand’s success.

 

BYD has been committed to offer value for money. As the company’s vehicle models are priced lower than their foreign competitors, it coincides with local demand for homemade affordable products amid a slowing Chinese economy.


BYD EV_480.jpg 


BYD fulfils local customers' demand for homemade affordable products.

 

BYD demonstrates a high cost-efficiency in its production – it manufactures most components itself, and any others it does not produce are readily available from Chinese suppliers. With such cost reduction and high cost-efficiency, it is particularly advantageous during supply chain disruption in pandemic, which affected manufacturers like Tesla, the research says.

 

During the COVID-19 pandemic, BYD’s strategic location in Shenzhen also contributes to its success as the city experienced fewer stringent lockdown measures than Shanghai, where Tesla operates its largest overseas plant.

 

In addition, like other Chinese EV manufacturers, BYD has thrived from incentives offered by the Chinese government such as subsidies and tax breaks, to encourage the adoption of low-emission vehicles.

 

Tesla’s action to catch up

 

On the other hand, like many other companies, one of the reasons that causes Tesla’s trailing behind BYD is the supply chain disruption due to pandemic, which affected its production numbers. However, the company aims to catch up with its competitors by commencing production at the Austin facility in the US.

 

The company has implemented several strategic measures to boost sales, including significantly reducing prices, especially for older models. CEO Elon Musk also hinted in July that the company may continue with such reductions in the future.

 

Finbold’s research also pinpoints that China ranks top among Tesla’s markets. The American EV leader has also reduced prices in the region while increasing discounts and other incentives to manage inventory and protect against competition and economic uncertainty.


全文内容需要订阅后才能阅读哦~
立即订阅
MAAG Bannner Ad (EN) Maguire Bannner Ad (EN)

Leave Comment

Submit

All Comments

No Comment

{{VueShowUserOrCompany(itme.user)}}

{{ toolTimes(itme.updated_at,'s') }}

{{itme.body}}

Reply   
Submit
{{VueShowUserOrCompany(itmes.user)}} {{ toolTimes(itmes.updated_at,'s') }} Reply

{{itmes.body}}

Submit
40+YEARS IN MAKING PLASTIC BAG MAKING MACHINE Suzhou Hechang Polymeric Materials Co., Ltd UV ABSORBER AND ANTIOXIDANT FACTORY

Recommended Articles

Automotive
Foxconn reported to bid for Nissan
 2025-02-07
Automotive
Get Ready: Low-altitude economy is here
 2025-01-24
Automotive
China’s car sales expect slow growth in 2025
 2025-01-21
Automotive
Eastman, Covestro and Ceres Holographics to commercialize HUD solution
 2025-01-17
Automotive
BASF launches flame-retardant PPA for EV applications
 2025-01-15
Automotive
Archer completes facility to mass-produce eVTOLs in the US
 2025-01-13
Sino-Pack 2025 home page banner 信百勒 英文横幅

You May Also Like

{{[item['category']['name'],item['category']['english_name']][lang]}}
{{VueShowUserOrCompany(item.author)}} {{VueShowDisplayName(item.author)}}
Sponsored
{{item.title}} {{item['summary']}}
{{itags.name}}
{{item.updated_at}}
 {{item.likes_count}}       {{item.comments_count}}
Master Mold plastic bumper mold LK button ad EN Earth Dream: Energy Saving, Quality Improvement, Efficiency
  • Must See
    • News
    Images
    Watch it
1
[Exclusive interview] Glocalization: Key to ENGEL’s success in Asia
2
Breaking: Borche to sell 60% stake to real estate developer
3
BASF launches flame-retardant PPA for EV applications
4
CHINAPLAS 2025: Gneuss presents versatile OMNI Recycling Systems
5
New bill introduced to tethered caps in California
1
high speed plastic bag making machine
2
plastic film blowing machine for PE, BIO COMPOSTABLE
3
Bottom seal folded bag making machine, interleave bottom seal bag making machine. shuttle system high speed email: info@silstar-cn.com, Whatspp: +86 18762817171
4
The appearance of new products of Ryan Tiansheng packaging machinery
5
rolling drawstring bag making machine, bag on roll plastic bag making machine. bag maker email: silstarmachinery@vip.163.com Whatsapp: +86 18762817171
1
GTE-35B Twin Screw Extruder with Water Cooling Strands Pelletizing
2
5,000 people join SACMI's 105th ‘birthday party’
3
six cavity high speed aotumatic blowing machine
4
5L-10L LG Close-packedHeating Automatic Blow MoldingMachine
5
GTE-75D Twin Screw Extruder: High-Efficiency Pelletizing Solution
  • Hot Specials

You May Be Interested In

Change
  • People
  • Company
loading... No Content
{{[item.truename,item.truename_english][lang]}} {{[item.company_name,item.company_name_english][lang]}} {{[item.job_name,item.name_english][lang]}}
{{[item.company_name,item.company_name_english][lang]}} Company Name    {{[item.display_name,item.display_name_english][lang]}}  

Polyurethane Investment Medical Carbon neutral Reduce cost and increase efficiency CHINAPLAS Financial reports rPET INEOS Styrolution Evonik Borouge Polystyrene (PS) mono-material Sustainability Circular economy BASF SABIC Multi-component injection molding machine All-electric injection molding machine Thermoforming machine

BYD overtakes Tesla in EV sales in first half of 2023, reports Finbold

识别右侧二维码，进入阅读全文
下载
x 关闭
订阅
亲爱的用户，请填写一下信息
I have read and agree to the 《Terms of Use》 and 《Privacy Policy》
立即订阅
Top
Feedback
Chat
News
Market News
Applications
Products
Video
In Pictures
Specials
Activities
eBook
Front Line
Plastics Applications
Chemicals and Raw Material
Processing Technologies
Products
Injection
Extrusion
Auxiliary
Blow Molding
Mold
Hot Runner
Screw
Applications
Packaging
Automotive
Medical
Recycling
E&E
LED
Construction
Others
Events
Conference
Webinar
CHINAPLAS
CPS+ eMarketplace
Official Publications
CPS eNews
Media Kit
Social Media
Facebook
Youtube
Adsale Group ｜  About Us ｜  Terms of Use ｜  Privacy Policy ｜  Contact Us ｜  Media Kit ｜  Consent Letter for Processing Personal Data ｜