After the American company Tesla, the Chinese company BYD has succeeded in becoming the company that sells the most electric vehicles in the world.

Last year, in the last quarter of 2023, BYD has sold a record 526,000 electric vehicles. With this, for the first time, BYD has succeeded in selling more electric vehicles than Tesla in any quarter.

In that quarter, Tesla sold 484,000 electric vehicles. However, even for Tesla, the number is the highest so far. With the high cost of loans, the demand for the American company Tesla’s vehicles has declined in the fourth quarter.

In the last quarter of the year, Tesla sold 40,000 fewer electric vehicles than the Chinese company, but in the year-round business, Tesla is in the lead. In 2023, Tesla sold 1.8 million electric vehicles.

Year-to-date, Tesla’s business has been better than analysts’ expectations. Compared to 2022, Tesla’s electric vehicle sales increased by 20 percent in 2023, the company said.

However, the projection made by Elon Musk at the beginning of last year could not be fulfilled. At the beginning of 2023, the owner of Tesla, Elon Musk, said that the company will sell 2 million electric vehicles in the year.

In order to attract customers, Tesla has repeatedly cut the price of electric vehicles. It is said that the success achieved by the Chinese company BYD in the last quarter is a warning sign for Tesla.