Overview
- BYD reported 2,256,714 new EVs sold in 2025, a 28% year‑on‑year increase.
- Tesla delivered 1,636,129 vehicles for 2025, down about 9%, relinquishing the annual global lead to BYD.
- News reports credit BYD’s gains to price cuts supported by Chinese replacement subsidies plus expanded exports and new overseas production projects in Europe, Southeast Asia and Latin America.
- Tesla’s slump was linked to the September 2025 end of a U.S. purchase incentive, tougher competition, and boycott calls over Elon Musk’s political statements, with Q4 deliveries down 16% to 418,227.
- BYD’s ascent was rapid, from about 320,000 EVs in 2021 to roughly 1.76 million in 2024, while Tesla had posted an analyst forecast predicting about 1.64 million sales for 2025.