3 6 Ke·2026-01-04 12:54Core Insights - The global electric vehicle sales leader has shifted from Tesla to BYD, marking a significant change in the market dynamics [1][2][12] - Tesla's sales in 2025 declined, with a total of 1.655 million vehicles sold, a 9% year-over-year decrease, while BYD's sales reached 2.257 million, a 27.9% increase [7][12] Group 1: Tesla's Performance - In Q4 2025, Tesla delivered 418,227 vehicles, a 16% decline year-over-year, with Model 3/Y accounting for 406,585 units [2][5] - The decline in Tesla's sales was anticipated due to the expiration of U.S. tax incentives, leading to a surge in Q3 deliveries [5][10] - Tesla's total sales for 2025 were 1.655 million vehicles, down from 1.8086 million in 2023, marking a second consecutive year of decline [7][10] Group 2: BYD's Growth - BYD's total sales for 2025 reached 4.6 million vehicles, a 7.73% increase, with pure electric vehicle sales at 2.257 million, representing a 27.9% increase [12][24] - BYD's overseas sales surged by 145%, contributing to 22.8% of total sales [24] - This marks the first time BYD has topped the global sales chart for pure electric vehicles, surpassing Tesla's 1.636 million units [12][13] Group 3: Market Dynamics and Competitors - The competition in the electric vehicle market is intensifying, with Chinese automakers gaining significant market share [16][42] - Other notable performers include Xpeng, which saw a 125.9% increase in sales, and Li Auto, which faced an 18.8% decline [20][35] - The overall landscape indicates a shift towards a more diversified and competitive market, moving away from Tesla's previous dominance [42]