Xin Lang Cai Jing·2026-01-03 02:48Core Insights - In 2025, BYD surpassed Tesla in global electric vehicle sales, marking a significant milestone as the largest electric vehicle manufacturer [1] - Tesla reported a decline in global vehicle deliveries to 1.636 million units, a decrease of approximately 8.6% year-on-year, continuing a trend of declining deliveries for the second consecutive year [1] - BYD's total electric vehicle sales for 2025 reached 4.602 million units, reflecting a year-on-year growth of 7.73%, with a notable increase of 27.86% in pure electric vehicle sales [1] Group 1 - BYD's December 2025 sales were 420,398 units, down about 18.2% year-on-year, while pure electric vehicle sales for the month were 190,712 units [1] - BYD achieved a significant production milestone by rolling off its 15 millionth electric vehicle, the Tengshi N8L, in December 2025, completing this achievement in 17 years, with the last 5 million produced in just 13 months [1] - Tesla's fourth-quarter delivery expectations were pessimistic, with 20 institutions predicting a year-on-year decline of 15%, leading to concerns about the company's growth potential [1] Group 2 - Elon Musk's previous dismissal of BYD as a competitor has shifted, acknowledging the company's strong competitiveness in the current market [2] - BYD's chairman Wang Chuanfu emphasized the company's core competitiveness lies in technology, supported by a team of 120,000 engineers and significant R&D investments [2] - Tesla's delivery challenges are attributed to changes in U.S. federal tax incentives and increasing global competition, with a forecasted demand drop impacting fourth-quarter performance [2]