TECH - Tesla May Be Staring At Big Q1 Sales Miss But Could Still Reclaim EV Crown From Buffett-Supported Chinese Competitor BYD | Benzinga
Chinese electric-vehicle start up BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF), which toppled Tesla, Inc. (NASDAQ:TSLA) as the world’s biggest battery EV manufacturer in the fourth quarter, reported Monday that its Q1 deliveries increased year-over-year but declined from the previous quarter.
What Happened: BYD said its first-quarter BEV sales came in at 300,114, up 13.40% year-over-year, the Warren Buffett-backed company said in a filing with the Hong Kong stock exchange. On a quarter-over-quarter basis, BEV sales slumped 43% from the 526,409 units it sold for the fourth quarter of 2023.
Including plug-in hybrid EVs, BYD sold 624,398 cars in the first quarter, up about 14% from the 547,917 units it sold a year ago, but down 33.8% from the 942,651 units sold in the fourth quarter of 2023.
In March alone, BYD sold 139,902 BEVs and 161,729 PHEVs, taking its total ...