Official sales reports from BYD and Tesla for the first half of 2025

BYD's 2024 NEV Sales Jump 41% to 4.27 Million, Closing in on Tesla Amid Record December Sales

Jan 2, 2025, 08:09 PM

Chinese electric vehicle maker BYD saw its new energy vehicle (NEV) sales soar 41.26% year-on-year to over 4.27 million units in 2024, according to company filings. The company's December sales reached a record 514,809 NEVs, including 207,734 battery electric vehicles (BEVs) and 301,706 plug-in hybrid electric vehicles (PHEVs), marking the third consecutive month with sales above 500,000 units. BYD produced a total of 466,441 vehicles in December. The company's rapid growth, bolstered by strong PHEV demand—which grew 72% year-on-year—and overseas expansion—with December overseas sales of 57,154 units and annual overseas sales reaching 417,200 units in 2024—has narrowed the gap with Tesla in the global electric vehicle market. In total, BYD sold 1.764 million BEVs and 2.5 million PHEVs in 2024. Tesla reported a 1.1% decline in global sales for 2024, the first annual decline in over a decade, delivering 1.789 million vehicles. In the fourth quarter, BYD's BEV sales surpassed Tesla's, selling 595,000 units compared to Tesla's 495,570 units. Tesla's sales in China increased 8.8% to a record high of over 657,000 cars in 2024, with December sales reaching 93,766 units.