Xin Lang Cai Jing·2026-01-04 01:29Core Viewpoint - BYD has surpassed Tesla in electric vehicle deliveries, claiming the title of "global electric vehicle sales champion" for the first time, marking a significant shift in the competitive landscape of the electric vehicle market [1][11]. Group 1: Tesla's Performance - Tesla's fourth-quarter delivery volume decreased by 15.6% year-on-year, totaling 418,227 vehicles, which was below analysts' expectations of 440,907 vehicles [5][15]. - For the entire year of 2025, Tesla's delivery volume fell by 8.6%, marking the second consecutive year of decline [5][15]. - The decline in Tesla's sales is attributed to the expiration of the U.S. federal electric vehicle tax credit in September 2025, which previously incentivized purchases [5][15]. Group 2: BYD's Growth - BYD reported a 28% year-on-year increase in pure electric vehicle sales for 2025, reaching 2.25 million units [7][17]. - In contrast, Tesla's total annual deliveries were 1.64 million, reflecting an 8.6% decrease [7][17]. - BYD is also experiencing rapid growth in overseas markets, particularly in Latin America and Southeast Asia, with plans to expand production in Brazil and increase exports to Europe [19]. Group 3: Market Dynamics - Tesla is facing increased competition not only from BYD but also from established European automakers, such as Volkswagen, which have surpassed Tesla in electric vehicle sales in Europe [11][22]. - Analysts predict that the U.S. electric vehicle market may struggle in 2026, with a potential turning point expected in 2027 when more manufacturers introduce electric vehicles priced below $30,000 [5][15].