Guan Cha Zhe Wang·2026-01-02 03:54Core Viewpoint - BYD is poised to surpass Tesla in global electric vehicle sales for the first time in 2025, achieving significant growth while Tesla faces a decline in sales [1][3]. Group 1: Sales Performance - In 2025, BYD delivered 4.6 million vehicles, a 7.7% increase from 2024, with electric vehicle sales rising by 28% to 2.25 million units [1][3]. - Tesla's estimated electric vehicle sales for 2025 are projected to decline by 8% to 1.64 million units, allowing BYD to potentially become the largest electric vehicle manufacturer globally [1][3]. - BYD's cumulative sales in 2024 surpassed Japanese automakers Honda and Nissan, and the company has achieved growth for five consecutive years [3]. Group 2: Market Expansion - BYD is leveraging its large domestic market while actively expanding its overseas sales, particularly in Europe, Latin America, and Southeast Asia [3][5]. - The company has seen significant growth in overseas sales, with a notable performance in European markets, where it registered 7,231 pure electric vehicles in April 2025, a 169% year-on-year increase [7]. - In the UK, Chinese automakers, including BYD, accounted for 13% of new car registrations in November, doubling their market share from the previous year [8]. Group 3: Competitive Landscape - Despite ongoing sales growth, BYD faces challenges, including a 18% year-on-year decline in December sales, marking the fourth consecutive month of declining deliveries [3]. - Analysts believe BYD is better positioned to handle competitive challenges compared to other automotive brands, with expectations for total sales to reach 5.3 million units in 2026 [5]. - The introduction of new products and technology platforms is anticipated to enhance BYD's competitive edge over Tesla [5].