During the third quarter of 2022, Tesla maintained its dominance in the market for selling fully electric cars Bevs, recording a vast advantage over Volkswagen by almost 200 thousand sold cars. However, the alarm is ringing loudly for billionaire Elon Musk owing to the BYD, which saw growth. Additionally noted, it forced the sales and advanced slowly from Tesla.
According to a report from INSIDEEVS, Tesla set a record for pure electric vehicle sales in the third quarter by selling 343830 vehicles, an increase of 42% on an annual basis. However, the “Ghost” of BYD is still pursuing the American auto industry, as its sales increased by 182% all at once during the same period.
Its total sales of all-electric vehicles reached 258610 vehicles, compared to only 14,9300 vehicles from the German company, with an annual increase of 22%, to become the difference between Volkswagen and Tsla, the leader, 194350 vehicles increased 63% on an annual basis. This Chinese company’s phenomenal growth allowed it to surpass Volkswagen and move up to the second position.
In the third quarter of this year, BYD closed the gap with Tesla by 43%, and based on current expectations, the Chinese company will not experience a crisis in passing its sales barrier of 350 thousand electric cars, which threatens the American company’s throne. However, what will happen after 2022 is unclear.
Tesla has sold 908573 vehicles since the start of 2022, a 45% yearly increase compared to BYD’s 582130 vehicles, a 214% annual increase, and Volkswagen’s 36,6400 vehicles, a 22% annual increase.
It is difficult to predict how the “race” will progress because all three manufacturers have the potential for rapid growth: BYD observes that there is a high local demand and expands to other markets (including Europe), while Tesla has two new capacitor manufacturers and new models under development.
German electric car sales will fall in the third quarter of 2022 due to Chinese competition.
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