BYD sold 128,196 battery electric vehicles (BEVs) in June 2023, up 84.34 percent from 69,544 units in the same month last year and up 7.18 percent from 119,603 units in May.
This is updating a comparison of BYD and Tesla from May 2023.
BYD sold 616,000 BEVs in the first half of 2023. Tesla sold 888,000 BEV in the first half of 2023. BYD will need to sell an average of about 290,000 units per month in the second half of the year if it is to reach its annual sales target of 3 million units.
Tesla sold 144% BEVs relative to BYD in the first half of the year. Tesla does not have monthly numbers but tends to skew towards more deliveries in the last month of the quarter.
In Q22023, BYD had 356,545 BEV sales versus Tesla at 466,140. Tesla sold 131% BEVs relative to BYD in the second quarter of 2023.
If Tesla has 1060000 sales in the second half and BYD has 840000 (averaging 140,000) then Tesla would be at 126% of BYD BEV sales for the second half.
Tesla has an average selling price of $46000 while BYD BEVs are about an average price of $25000.
If Tesla has 2 million units sold in 2023 and BYD has 1.5 million BEVs sold in 2023 then Tesla would have $92 billion auto revenue and BYD would have $37.5 billion in BEV revenue. Tesla would have 245% of the BEV revenue of BYD. BYD including hybrid car revenue will be about 75 billion in total 2023 sales.
BYD sold about $25 billion worth of battery electric vehicles in 2022 while Tesla sold about $80 billion. BYD total 2022 revenue was about $60 billion. Tesla was about 320% of BYD BEV sales revenue in 2022.
BYD has an average selling price slightly below KIAs and Tesla has average selling prices around the Mercedes C class. Mercedes sold about 2 million cars in 2022. Hyundai has average selling price in the USA of about $35000. Hyundai and Kia sold almost 7 million cars in 2022. Hyundai sold 4 million cars in 2022.
Hyundai has a market valuation of $50 billion while Mercedes has a market valuation of $110 billion. BYD has a market valuation of $100 billion. Tesla has $878 billion market valuation. BYD has 4% of its revenue for net income while Tesla is at 11-13% of revenue for net income.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
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