As 2024 comes to a close, both BYD and Tesla, the two companies with the largest market capitalization in the global new energy vehicle market, have delivered their results.
In 2024, BYD's cumulative sales of new energy vehicles reached 4.2721 million units, a year-on-year increase of 41.26%, maintaining rapid growth. On the other hand, Tesla's sales experienced a decline for the first time in 10 years. In 2024, Tesla produced a total of 1.7734 million vehicles and delivered 1.7892 million vehicles, a decrease of 1.1% compared to the 1.81 million vehicles delivered in 2023. This was below analysts' general expectation of 1.8 million vehicles. Previously, during the earnings call, Musk had stated that Tesla's sales in 2024 would be slightly higher than in 2023, achieving a &#34;small increase.&#34;
In fact, since 2021, the sales gap between Tesla and BYD has been widening. At its lowest point in 2020, due to the production of Tesla's Shanghai Gigafactory, which resolved capacity bottlenecks, BYD's sales were only 37.8% of Tesla's. However, subsequently, the sales ratio of BYD to Tesla has been on the rise. In 2024, BYD's sales reached 2.39 times that of Tesla.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/045dcd6c-066d-4dc4-a8da-a732b651e4ac.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/045dcd6c-066d-4dc4-a8da-a732b651e4ac.png"/>

BYDDF

81211

002594

BYDDY

01211

TSLA

In 2024, BYD and Tesla showed drastically different performances in the global new energy vehicle market. BYD's annual sales reached 4.2721 million vehicles, a year-on-year increase of 41.26%, while Tesla experienced its first sales decline in 10 years, delivering 1.7892 million vehicles for the year, a decrease of 1.1% compared to 2023. BYD's sales are now 2.39 times that of Tesla, indicating that the market value gap between the two is widening

- In 2024, BYD and Tesla, the two largest companies in the global electric vehicle market, reported their sales figures.  
- BYD achieved a total of 4.27 million electric vehicles sold, marking a 41.26% increase, while Tesla experienced its first sales decline in a decade, delivering 1.79 million vehicles, down 1.1% from 2023.  
- The sales gap between BYD and Tesla has widened significantly, with BYD's sales reaching 2.39 times that of Tesla in 2024.

BYD VS Tesla, where is the gap in market value?