BYD overtakes Tesla？The battle for the interests of the two new energy giants continues

On the evening of October 30, BYD Company released its third-quarter results for 2024, in the first three quarters, the company achieved operating income of 502.25 billion yuan, an increase of 18.9%, and net profit of 25.24 billion yuan, an increase of 18.1%.

Looking at the third quarter results alone, BYD's revenue of 2.5 billion yuan in 2011 has surpassed Tesla's revenue of 179.4 billion yuan, which also means that BYD has become another "milestone" in the development of electric vehicles. As a leader in China's new energy vehicles, BYD's surpassing is not only an affirmation of its own strength, but also marks the rise of China's new energy vehicle industry in the global market.

First, BYD adopts the classic strategy of "rural encircling the city". The reversal of revenue, mainly due to the jump in sales, although BYD's single model of global sales less than Tesla, but in the total sales has quietly achieved surpassed. Byd accurately grasps the pulse of the market, targeting the main market in the low-end market and the new energy vehicle market, and is able to control costs, provide reasonable prices and cost-effective products to meet the budget of most car buyers. In China, the government can enjoy the purchase tax exemption policy for new energy vehicles, which has great appeal to consumers and greatly enhanced consumers' trust and purchase willingness. In addition, BYD constantly adjusts its product strategy according to market demand and launches a number of hot-selling models to meet the needs of different consumers. And cooperate with a number of well-known enterprises to jointly explore the market and increase market share.

Second, BYD continues to promote the "passenger car to the sea" plan and continues to expand its overseas influence. With the rapid development of the automobile industry, more and more car companies have begun to look at overseas markets, and BYD is no exception. Byd reportedly plans to make overseas deliveries account for nearly half of its global sales in the future. In order to achieve this goal, BYD actively explore the market and seek new growth points. On the one hand, BYD is constantly pushing to build factories overseas. At present, BYD has entered 96 countries and regions around the world, and has invested in the construction of new energy passenger car factories in Uzbekistan, Thailand, Brazil and Hungary. On the other hand, BYD has built its own fleet. The second ship of the fleet, Changzhou, was launched in Yantai, Shandong Province in October, which has truly achieved the reduction of transportation costs and the improvement of logistics efficiency.

Third, Tesla is showing signs of fatigue and its development momentum continues to slow down. If the Chinese market is BYD's base, North America is Tesla's home. But in contrast, Tesla's recent situation in the US market has been slightly awkward. Faced with the impact of the overall cooling of the new energy vehicle market, the objective factor is the weak charging infrastructure in the United States and the high price of new energy vehicles, which directly hit the purchase willingness of consumers. This situation makes Tesla's overall sales in the United States this year negative growth probability is greatly increased. On the other hand, due to the change of models less than expected, domestic car companies intensified competition, the current sales trend, it is expected that Tesla's sales in China this year may be less than expected.

There are also views that as the penetration rate of new energy vehicles continues to exceed 50%, fuel vehicles have been forced into a "corner", and it is predicted that the full electrification of China's passenger cars will be completed in the next 2 to 3 years. But don't forget, despite the rapid development of new energy vehicles, the status of fuel vehicles is still difficult to shake, its stability, endurance and some electric vehicles do not have the advantages, will make fuel vehicles in the passenger car market still have a place.

At present, BYD's momentum in the "Bit war" is fierce, and Tesla is slightly inferior. Some insiders also said that the single quarter data may be accidental, and it is necessary to observe the following half-year and annual data. With the continuous expansion of the global new energy vehicle market and the continuous progress of technology, whether BYD can maintain its leading position needs to continue to look forward to.