Tan Kin Lian - Investment Journey
Tesla vs BYD
BYD did indeed overtake Tesla in terms of fully electric vehicle (EV) sales during the fourth quarter of 2023. Here's a quick breakdown of the situation:
- BYD sold 526,409 fully electric vehicles in Q4 2023, compared to Tesla's 484,507. This marks the first time that BYD has outsold Tesla in pure electric vehicle sales.
- However, Tesla still held the lead for the entire year of 2023, delivering a total of 1.8 million EVs compared to BYD's 1.6 million.
However, the stock price of BYD fared worse than Tesla during the past 6 months.
Both stocks fared badly during the past 6 months due to competition resulting in low margin in a market where demand had dropped, due to the weak economy.
Tan Kin Lian
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