特斯拉丢掉全球电车销冠王座，销量正式落后于比亚迪

Core Viewpoint - Tesla has officially lost its long-standing title as the global electric vehicle sales champion to BYD, highlighting a significant shift in the global electric vehicle competitive landscape towards China [2][5]. Group 1: Tesla's Performance - Tesla reported a decline in annual delivery volumes for the second consecutive year, with 2025 delivery estimates dropping to approximately 1.6 million units, an 8%-9% decrease from 2024, significantly lower than BYD's projected sales [3][5]. - The peak delivery volume for Tesla occurred in 2023 at around 1.8 million units, but the company still managed to maintain a slight lead over BYD in 2024 [3][5]. - Tesla's unusual move to preemptively disclose Wall Street analysts' delivery forecasts for 2029, while simultaneously stating it does not endorse any predictions, suggests an attempt to mitigate market shock regarding its declining fourth-quarter sales [3][4]. Group 2: BYD's Rise - BYD announced a target of 2.26 million pure electric vehicle sales by 2025, representing a nearly 28% year-on-year increase, and is expected to achieve a total of approximately 4.6 million new energy vehicle sales when including plug-in hybrid models [2][5]. - The company's growth is attributed to aggressive pricing strategies, a robust domestic supply chain, and a comprehensive product matrix that caters to price-sensitive consumers [5][6]. - BYD's product line spans from economical urban vehicles to high-end sedans, and it is rapidly expanding its exports to Europe, Southeast Asia, Latin America, and the Middle East [5][6]. Group 3: Market Dynamics - The shift in market dynamics is influenced by a cooling global demand, competitive pricing pressures from rivals, and the expiration of key incentives in Europe and the U.S. [5][6]. - Ford announced a $19.5 billion impairment charge for its electric vehicle business, citing a shift in customer demand, with the U.S. electric vehicle market share reportedly halved to around 5% since the termination of federal purchase subsidies [4][5]. - The U.S. government and the EU are increasing scrutiny on Chinese electric vehicle imports and raising tariffs, which could hinder BYD's overseas expansion despite its stronghold in the domestic market [6].