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font-style: italic; color: grey; line-height: 23px; } .tt-post { border: 0px solid #489bd4 !important; -webkit-box-shadow: 0 0px 0 0 #eaeaea !important; -moz-box-shadow: 0 0px 0 0 #eaeaea !important; box-shadow: 0 0px 0 0 #eaeaea !important; } @media only screen and (min-width: 769px) { .relatedsingle{ height: 396px; } .h1, .h2, .h3, h1, h2, h3, .tt-title-text{ margin-top: 0px !important; margin-bottom: 0px !important; } } #fkgUBk { display: none; } </style> <meta name="twitter:card" content="summary_large_image" /> <meta name="twitter:description" content="Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%" /> <meta name="twitter:title" content="BYD Rides High After Tesla Sales Takeover and Bumper October" /> <meta name="twitter:site" content="@ATFinancial_" /> <meta name="twitter:image" content="https://www.asiafinancial.com/wp-content/uploads/2024/01/2-copy.jpg" /><script type="application/ld+json">{ "@context": "http:\/\/schema.org", "@type": "newsarticle", "inLanguage": "en", "url": "https:\/\/www.asiafinancial.com", "articleBody": " \r\n\r\nChinese electric vehicle (EV) giant BYD is riding high after a series of wins including taking over US rival Tesla in quarterly sales for the first time ever, and reporting a fifth consecutive month of record shipments.\r\n\r\nBYD <strong><a href="https:\/\/cnevpost.com\/2024\/11\/01\/byd-sales-oct-2024\/" target="_blank" rel="noopener">sold a mammoth 500,526 new energy vehicles (NEVs)<\/a><\/strong> in October, up more than 66% from the same period last year. This was the first time the automaker\u2019s monthly sales crossed the half-a-million monthly sales mark.\r\n\r\nThe numbers follow BYD\u2019s earnings report from last week that showed it had taken over Elon Musk-led Tesla in quarterly sales revenue for the time ever.\r\n\r\n \r\n<h3>Also on AF: <a href="https:\/\/www.asiafinancial.com\/china-tells-byd-geely-stop-eu-investments-as-tariffs-start" target="_blank" rel="noopener">China Tells BYD, Geely \u2018Stop EU Investments\u2019 As Tariffs Start<\/a><\/h3>\r\n \r\n\r\nIn the three months ending September, BYD raked in 201.12 billion yuan ($28.34 billion) in revenue, as against Tesla\u2019s $25.18 billion\u00a0revenue in the same period, <strong><a href="https:\/\/www.cnbc.com\/2024\/10\/31\/chinese-ev-maker-byds-quarterly-sales-overtook-teslas-for-the-first-time.html" target="_blank" rel="noopener">according to CNBC<\/a><\/strong>. BYD\u2019s sales were up 24% year-on-year.\r\n\r\nIn terms of profits, however, BYD remained on the back foot.\r\n\r\nWhile Tesla booked a net profit of $2.18 billion, BYD\u2019s earnings stood at $1.6 billion for the period, CNBC reported. In full-year sales, too, Tesla edged ahead with $71.98 billion in total revenue, as against BYD\u2019s $70.53 billion.\r\n\r\nInvestors remained unfazed by both those numbers, however. Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%.\r\n\r\nThe market moves brought some much needed breather to the stock after it took a beating last week over concerns about the European Union\u2019s new tariffs coming into effect this month and potential geopolitical uncertainty stemming from tomorrow\u2019s US presidential election.\r\n\r\n \r\n<h2>All-around bonanza for Chinese EV firms<\/h2>\r\nMuch of the market euphoria came on the back of BYD\u2019s October NEV sales, which defied concerns of slowing demand in China \u2014 the world\u2019s biggest automobile market.\r\n\r\nNEVs include both plug-in hybrid electric vehicles (PHEV) and battery-electric vehicles (BEVs). Hybrid cars have been the biggest driver of BYD\u2019s sales in recent months, due their flexibility and comparatively lower prices.\r\n\r\nHybrid vehicles accounted for more than half of BYD\u2019s NEV sales for October, hitting an eighth consecutive monthly high at 310,912 units. That's more than 129% than the same period last month and 23% higher than September.\r\n\r\nBYD wasn\u2019t the only Chinese EV-maker to see a sales bonanza though. Several carmakers in the country reported record NEV sales in October.\r\n\r\nStartup Xpeng <strong><a href="https:\/\/cnevpost.com\/2024\/11\/01\/xpeng-deliveries-oct-2024\/" target="_blank" rel="noopener">sold 23,917 electric vehicles<\/a><\/strong> in October, posting a second consecutive month of record sales.\r\n\r\nStellantis-backed Leapmotor <strong><a href="https:\/\/cnevpost.com\/2024\/11\/01\/leapmotor-deliveries-oct-2024\/" target="_blank" rel="noopener">delivered 38,177 NEVs<\/a><\/strong> in the month, setting a fifth consecutive monthly record. Similarly, Geely Auto's luxury EV brand Zeekr <strong><a href="https:\/\/cnevpost.com\/2024\/11\/01\/zeekr-deliveries-oct-2024" target="_blank" rel="noopener">sold a record 25,049 vehicles<\/a><\/strong> for the month.\r\n\r\nMeanwhile, Xiaomi \u2014 <strong><a href="https:\/\/www.asiafinancial.com\/in-battle-for-china-ev-market-xiaomis-thor-takes-on-elon-musk" target="_blank" rel="noopener">one the most talked about EV entrants this year<\/a><\/strong> \u2014 sold more than 20,000 of its newly launched vehicles in October.\r\n\r\nOf the 18 Chinese carmakers that released their October NEV sales numbers, at least half reported an 80% jump in deliveries from a year earlier, <strong><a href="https:\/\/www.yicaiglobal.com\/news\/many-chinese-ev-makers-sales-soar-to-new-highs-in-october-byd-sails-past-500000-mark" target="_blank" rel="noopener">Yicai reported<\/a><\/strong>.\r\n\r\nTesla, meanwhile, sold 68,280 China-made electric vehicles in October, <strong><a href="https:\/\/www.reuters.com\/business\/autos-transportation\/teslas-oct-china-made-ev-sales-fall-53-yy-2024-11-04\/" target="_blank" rel="noopener">down 5.3% from a year earlier<\/a><\/strong>, data from the China Passenger Car Association (CPCA) showed on Monday.\r\n\r\n \r\n<ul>\r\n \t<li>Vishakha Saxena<\/li>\r\n<\/ul>\r\n \r\n<h3>Also read:<\/h3>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/all-time-high-ev-sales-in-china-defy-slowdown-worry" target="_blank" rel="noopener">All-Time-High EV Sales in China Defy Slowdown Worry<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/ev-shift-to-have-far-reaching-impact-on-trade-employment-imf" target="_blank" rel="noopener">EV Shift to Have Far-Reaching Impact on Trade, Employment: IMF<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/ford-ceo-is-driving-a-xiaomi-ev-and-doesnt-want-to-give-it-up" target="_blank" rel="noopener">Ford CEO is Driving a Xiaomi EV And Doesn\u2019t Want to Give it Up<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/chinese-carmakers-call-for-25-retaliatory-tariffs-on-eu-cars" target="_blank" rel="noopener">Chinese Carmakers Call For 25% Retaliatory Tariffs on EU Cars<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/stellantis-ceo-calls-china-ev-tariffs-a-trap-he-may-be-right" target="_blank" rel="noopener">Stellantis CEO Calls China EV Tariffs a \u2018Trap\u2019. He May Be Right<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/us-sets-new-rules-to-block-china-rivals-access-to-us-data" target="_blank" rel="noopener">US Sets New Rules to Block China, Rivals\u2019 Access to US Data<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/us-china-tech-war-seen-continuing-under-trump-or-harris" target="_blank" rel="noopener">US-China Tech War Seen Continuing Under Trump or Harris<\/a><\/h4>\r\n<h4><a href="https:\/\/www.asiafinancial.com\/new-battery-from-chinas-catl-aims-at-extended-range-hybrids" target="_blank" rel="noopener">New Battery From China\u2019s CATL Aims at Extended Range Hybrids<\/a><\/h4>\r\n<h4><\/h4>\r\n ", "articleSection": "Asia", "mainEntityOfPage": { "@type": "WebPage", "url": "https:\/\/www.asiafinancial.com\/byd-rides-high-after-tesla-sales-takeover-and-bumper-october" }, "headline": "BYD Rides High After Tesla Sales Takeover and Bumper October", "description": "Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%", "datePublished": "2024-11-04T11:44:10+00:00", "dateModified": "2024-11-04T11:44:10+00:00", "publisher": { "@type": "Organization", "name": "Asia Financial", "logo": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/themes\/atf\/images\/AF-logo-small.png", "width": "640", "height": "97" } }, "author": { "@type": "Person", "name": "Asia Financial" }, "image": { "@type": "ImageObject", "url": "https:\/\/www.asiafinancial.com\/wp-content\/uploads\/2024\/01\/2-copy.jpg" } }</script> <script async src="https://www.googletagmanager.com/gtag/js?id=G-CNH68EHNDT"></script> <script> window.dataLayer = window.dataLayer || []; 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text-align: right; vertical-align: middle; } @media screen and (max-width: 767px){ .related-articles-sec .tt-post-inner{ overflow: hidden; border-bottom: 1px dotted rgba(0, 0, 0, 0.2); } .related-articles-sec .tt-post-inner .tt-post-img{ float: right; margin-left: 10px;} .related-articles-sec .simple-text a{font-size: 18px;color: #111;font-weight: 500;line-height: 26px;} .related-articles-sec .tt-post.type-3 .tt-post-info{padding: 0; } .related-articles-sec .tt-post-info .simple-text{ margin-top: 0;} .related-articles-sec .tt-post.type-3{ text-align: left; } } .new-category-design, .tt-post-label-new { margin-bottom: -8px; margin-top: 13px; } </style> <div id="page-wrapper" class="content top-bottom"> <div class="container"> <div class="row story-div"> <div class="marg-lg-b20"></div> <div class="col-md-8"> <div class="story-top"> <div class="reports-big-head"> <div class="tt-post-label tt-post-label-new"> <span class="tt-post-label-new tt-post-cat"> <a href="https://www.asiafinancial.com/transport/electric-vehicles">Electric Vehicles</a> </span></div> <h1 class="reports-big-head">BYD Rides High After Tesla Sales Takeover and Bumper October</h1> </div> <div class="tt-post type-3"> <div class="tt-post-label" style="font-size:14px;">  <span class="tt-post-date" style="margin-left:5px;">November 4, 2024</span></div> <div class="col post-excerpt" style="margin-top:10px;"> <h4> <p>Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%</p> </h4> </div> <br> <div class="sharethisbx"> <ul class="custom-share"> <li class="facebook"> <a target="_blank" rel="nofollow" href="https://www.facebook.com/sharer/sharer.php?u=https://www.asiafinancial.com/byd-rides-high-after-tesla-sales-takeover-and-bumper-october"> <i class="fb"><img alt="facebook" src="https://www.asiafinancial.com/wp-content/themes/atf/images/facebook.svg"></i> </a> </li> <li class="twit"> <a rel="nofollow" target="_blank" href="https://twitter.com/share?text=BYD%20Rides%20High%20After%20Tesla%20Sales%20Takeover%20and%20Bumper%20October&url=https://www.asiafinancial.com/byd-rides-high-after-tesla-sales-takeover-and-bumper-october"> <i class="twit"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/twitter.svg?v=1" alt="twitter"></i> </a> </li> <li class="whatsapp"> <a rel="nofollow" href="whatsapp://send?text=https://www.asiafinancial.com/byd-rides-high-after-tesla-sales-takeover-and-bumper-october"> <i class="wapp"><img src="https://www.asiafinancial.com/wp-content/themes/atf/images/whatsapp.svg" alt="whatsapp"></i> </a> </li> </ul> </div> </div> </div> <div class="story-big-img"> <figure>  <img src="https://www.asiafinancial.com/wp-content/uploads/2024/01/2-copy.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="EVs from BYD and Tesla are pictured in this image" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/01/2-copy.jpg 710w, https://www.asiafinancial.com/wp-content/uploads/2024/01/2-copy-300x200.jpg 300w" sizes="100vw" /> <figcaption style="line-height: 17px; font-size: 12px; font-weight: 500; margin-top: 10px; color: #aaaaaa;"> In the three months ending September, BYD raked in 201.12 billion yuan ($28.34 billion) in revenue, as against Tesla’s $25.18 billion revenue in the same period. Photo: Pexel and google; edited by Aarushi Agrawal </figcaption> </figure> </div> <div class="content"> <p> </p> <p>Chinese electric vehicle (EV) giant BYD is riding high after a series of wins including taking over US rival Tesla in quarterly sales for the first time ever, and reporting a fifth consecutive month of record shipments.</p> <p>BYD <strong><a href="https://cnevpost.com/2024/11/01/byd-sales-oct-2024/" target="_blank" rel="noopener">sold a mammoth 500,526 new energy vehicles (NEVs)</a></strong> in October, up more than 66% from the same period last year. This was the first time the automaker’s monthly sales crossed the half-a-million monthly sales mark.</p> <p>The numbers follow BYD’s earnings report from last week that showed it had taken over Elon Musk-led Tesla in quarterly sales revenue for the time ever.</p> <p> </p> <h3>Also on AF: <a href="https://www.asiafinancial.com/china-tells-byd-geely-stop-eu-investments-as-tariffs-start" target="_blank" rel="noopener">China Tells BYD, Geely ‘Stop EU Investments’ As Tariffs Start</a></h3> <p> </p> <p>In the three months ending September, BYD raked in 201.12 billion yuan ($28.34 billion) in revenue, as against Tesla’s $25.18 billion revenue in the same period, <strong><a href="https://www.cnbc.com/2024/10/31/chinese-ev-maker-byds-quarterly-sales-overtook-teslas-for-the-first-time.html" target="_blank" rel="noopener">according to CNBC</a></strong>. BYD’s sales were up 24% year-on-year.</p> <p>In terms of profits, however, BYD remained on the back foot.</p> <p>While Tesla booked a net profit of $2.18 billion, BYD’s earnings stood at $1.6 billion for the period, CNBC reported. In full-year sales, too, Tesla edged ahead with $71.98 billion in total revenue, as against BYD’s $70.53 billion.</p> <p>Investors remained unfazed by both those numbers, however. Shenzhen-listed shares of the carmaker were up 5.74% at close of trade on Monday, while its Hong Kong-listed stock was up 3.53%.</p> <p>The market moves brought some much needed breather to the stock after it took a beating last week over concerns about the European Union’s new tariffs coming into effect this month and potential geopolitical uncertainty stemming from tomorrow’s US presidential election.</p> <p> </p> <h2>All-around bonanza for Chinese EV firms</h2> <p>Much of the market euphoria came on the back of BYD’s October NEV sales, which defied concerns of slowing demand in China — the world’s biggest automobile market.</p> <p>NEVs include both plug-in hybrid electric vehicles (PHEV) and battery-electric vehicles (BEVs). Hybrid cars have been the biggest driver of BYD’s sales in recent months, due their flexibility and comparatively lower prices.</p> <p>Hybrid vehicles accounted for more than half of BYD’s NEV sales for October, hitting an eighth consecutive monthly high at 310,912 units. That’s more than 129% than the same period last month and 23% higher than September.</p> <p>BYD wasn’t the only Chinese EV-maker to see a sales bonanza though. Several carmakers in the country reported record NEV sales in October.</p> <p>Startup Xpeng <strong><a href="https://cnevpost.com/2024/11/01/xpeng-deliveries-oct-2024/" target="_blank" rel="noopener">sold 23,917 electric vehicles</a></strong> in October, posting a second consecutive month of record sales.</p> <p>Stellantis-backed Leapmotor <strong><a href="https://cnevpost.com/2024/11/01/leapmotor-deliveries-oct-2024/" target="_blank" rel="noopener">delivered 38,177 NEVs</a></strong> in the month, setting a fifth consecutive monthly record. Similarly, Geely Auto’s luxury EV brand Zeekr <strong><a href="https://cnevpost.com/2024/11/01/zeekr-deliveries-oct-2024" target="_blank" rel="noopener">sold a record 25,049 vehicles</a></strong> for the month.</p> <p>Meanwhile, Xiaomi — <strong><a href="https://www.asiafinancial.com/in-battle-for-china-ev-market-xiaomis-thor-takes-on-elon-musk" target="_blank" rel="noopener">one the most talked about EV entrants this year</a></strong> — sold more than 20,000 of its newly launched vehicles in October.</p> <p>Of the 18 Chinese carmakers that released their October NEV sales numbers, at least half reported an 80% jump in deliveries from a year earlier, <strong><a href="https://www.yicaiglobal.com/news/many-chinese-ev-makers-sales-soar-to-new-highs-in-october-byd-sails-past-500000-mark" target="_blank" rel="noopener">Yicai reported</a></strong>.</p> <p>Tesla, meanwhile, sold 68,280 China-made electric vehicles in October, <strong><a href="https://www.reuters.com/business/autos-transportation/teslas-oct-china-made-ev-sales-fall-53-yy-2024-11-04/" target="_blank" rel="noopener">down 5.3% from a year earlier</a></strong>, data from the China Passenger Car Association (CPCA) showed on Monday.</p> <p> </p> <ul> <li>Vishakha Saxena</li> </ul> <p> </p> <h3>Also read:</h3> <h4><a href="https://www.asiafinancial.com/all-time-high-ev-sales-in-china-defy-slowdown-worry" target="_blank" rel="noopener">All-Time-High EV Sales in China Defy Slowdown Worry</a></h4> <h4><a href="https://www.asiafinancial.com/ev-shift-to-have-far-reaching-impact-on-trade-employment-imf" target="_blank" rel="noopener">EV Shift to Have Far-Reaching Impact on Trade, Employment: IMF</a></h4> <h4><a href="https://www.asiafinancial.com/ford-ceo-is-driving-a-xiaomi-ev-and-doesnt-want-to-give-it-up" target="_blank" rel="noopener">Ford CEO is Driving a Xiaomi EV And Doesn’t Want to Give it Up</a></h4> <h4><a href="https://www.asiafinancial.com/chinese-carmakers-call-for-25-retaliatory-tariffs-on-eu-cars" target="_blank" rel="noopener">Chinese Carmakers Call For 25% Retaliatory Tariffs on EU Cars</a></h4> <h4><a href="https://www.asiafinancial.com/stellantis-ceo-calls-china-ev-tariffs-a-trap-he-may-be-right" target="_blank" rel="noopener">Stellantis CEO Calls China EV Tariffs a ‘Trap’. He May Be Right</a></h4> <h4><a href="https://www.asiafinancial.com/us-sets-new-rules-to-block-china-rivals-access-to-us-data" target="_blank" rel="noopener">US Sets New Rules to Block China, Rivals’ Access to US Data</a></h4> <h4><a href="https://www.asiafinancial.com/us-china-tech-war-seen-continuing-under-trump-or-harris" target="_blank" rel="noopener">US-China Tech War Seen Continuing Under Trump or Harris</a></h4> <h4><a href="https://www.asiafinancial.com/new-battery-from-chinas-catl-aims-at-extended-range-hybrids" target="_blank" rel="noopener">New Battery From China’s CATL Aims at Extended Range Hybrids</a></h4> <h4></h4> <p> </p> <div class="tags"> Tags: <a href="https://www.asiafinancial.com/tag/byd" rel="tag">BYD</a><a href="https://www.asiafinancial.com/tag/china-ev" rel="tag">China EV</a><a href="https://www.asiafinancial.com/tag/china-tech" rel="tag">China Tech</a><a href="https://www.asiafinancial.com/tag/ev" rel="tag">EV</a><a href="https://www.asiafinancial.com/tag/ev-companies" rel="tag">EV Companies</a><a href="https://www.asiafinancial.com/tag/ev-tariffs" rel="tag">EV Tariffs</a><a href="https://www.asiafinancial.com/tag/tesla" rel="tag">Tesla</a><a href="https://www.asiafinancial.com/tag/tesla-china" rel="tag">Tesla China</a><a href="https://www.asiafinancial.com/tag/us-china" rel="tag">US-China</a> </div> <div class="author-box"> <div class="profile_images"><img width="96" height="96" src="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg" class="avatar avatar-96 photo imgauthor" alt="" loading="lazy" srcset="https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-96x96.jpg 96w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-300x300.jpg 300w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-150x150.jpg 150w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-768x768.jpg 768w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-24x24.jpg 24w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4-48x48.jpg 48w, https://www.asiafinancial.com/wp-content/uploads/2024/01/Untitled-design-4.jpg 1000w" sizes="100vw" /></div> <div class="author-content"> <h3><a href="https://www.asiafinancial.com/author/vishakha-saxenaasiafinancial-com">Vishakha Saxena </a></h3> <p style="font-size: 14px;"> Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. 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