Tesla: Falling from the top of the EV world
・4Q unit sales surpassed by China’s BYD
・Annual sales volume: Tesla: 1.8 million units; BYD: 3.01 million units
We will provide you with a summary of articles published on Bloomberg.
Tesla’s 4Q sales volume: 484,507 units
On January 2nd, 2023 4Q sales volume was announced at 484,507 units.
It narrowly achieved the analyst forecast of 480,000 units.
Meanwhile, Tesla is expected to achieve its 2023 target of 1.8 million units.
Breakdown of 4Q unit sales:
SUV Model Y and sedan Model 3 accounted for 95% of the total.
BYD’s 4Q sales volume: 526,409 units
BYD’s 4Q sales volume in China was 526,409 units.
BYD ranks first in the world in annual EV sales, selling 3.01 million units last year.
BYD has a relatively inexpensive and wide-ranging lineup.
Sales are increasing mainly in the Chinese market.
https://www.bloomberg.co.jp/news/articles/2024-01-02/S6MZUXDWX2PS00
China’s EV market: Many companies fail to achieve their targets
We will provide you with a summary of articles published on Bloomberg.
National Passenger Car Market Information Federation:
Only about one-third of Chinese manufacturers achieved their annual targets
1. NIO, Xiaopeng Motors, and Lingshu Motors have not achieved their targets for the second consecutive year
2. Advantages in both NEV and export are essential for Chinese manufacturers
Rider association/annual breaking news data:
On January 3rd, the Japan Railway Association released preliminary data.
Total NEV sales increased by 38% to 8.88 million units annually.
13 brands have announced their annual sales numbers.
However, only four brands achieved their goal.
BYD:
BYD set an ambitious target of 3 million units and sold 3.01 million units last year.
In October-December (4Q), its sales volume exceeded that of Tesla in the US.
BYD has a wide range of products in most price ranges.
As they expand their market share, they are putting pressure on small and medium-sized manufacturers.
LI AUTO：
Last year, LI AUTO sold 376,030 units, 25% more than its original goal of 300,000 units.
Geely Automobile:
It is the only conventional car manufacturer to achieve its annual sales target.
However, sales of Gokukan remain at 85% of the target.
Urlai Motors, Xiaopeng Motors, Lingshu Motors:
The target for 2023 was not achieved.
After failing to achieve targets for two years in a row, the company will revamp its management team and reduce personnel.
https://www.bloomberg.co.jp/news/articles/2024-01-05/S6RNHUT0AFB400
BYD: Establishes NEV production base in Hungary
We will provide you with a summary of articles published by JETRO.
BYD:
On December 22nd, the company announced the construction of a NEV assembly plant in Szeged, Hungary.
It is expected to create thousands of jobs locally.
In October 2016, we built a bus factory in Komarom City. In operation since April 2017.
NEV finished vehicle factory:
Adopt advanced equipment and automated production process.
Promote technological exchanges and innovation between China and Hungary.
BYD supports building local green supply chains.
Announcement from China Automobile Manufacturers Association:
～BYD’s results from January to November 2023
Production volume was 2,736,259 units, an increase of 66.2% compared to the same period last year.
Sales volume increased by 64.3% to 2,683,374 units.
https://www.jetro.go.jp/biznews/2024/01/4b534f91fd3aad53.html