BYD quarterly sales beat Tesla for first time
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Re: BYD quarterly sales beat Tesla for first time
#2Re: BYD quarterly sales beat Tesla for first time
#3Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
Re: BYD quarterly sales beat Tesla for first time
#4Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
Wow, really good that Tesla has received no government subsidies then. :)
https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275...
Re: BYD quarterly sales beat Tesla for first time
#5Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
Given the prices, 50% off, the only way they will not fare well is import taxes.
Re: BYD quarterly sales beat Tesla for first time
#6Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
https://www.bloomberg.com/news/features/2024-10-16/electric-... | https://archive.today/uJLa4 ("Bloomberg: BYD Is Winning the Global Race to Make Cheaper EVs")
> Last fall in Malta, BYD began selling the Atto 3, an all-electric compact crossover. Strip away the company’s futuristic logo, and it looks almost indistinguishable from other small, sporty SUVs. But inside it’s full of treats, including heated seats in vegan leather and a 360-degree rotating touchscreen. The 60-kilowatt-hour battery gives it a range of 260 miles, enough to circle Malta’s main island twice. And by European standards, it’s inexpensive, at about $28,000. It’s a novelty in Malta. But the real reason BYD is entering the European Union’s tiniest member state? The company’s happy place is emerging markets and countries with no domestic auto industry to defend: “You can basically describe them as a ‘chicken rib market,’ ” says Yu Zhang, the managing director of consulting firm AutoForesight in Shanghai. “All the chicken ribs added up together, it’s more than 10 million cars.”
> After increasing its annual sales in China 15 times over, to 3 million cars in only three years, BYD is now exporting to roughly 95 markets, including 20 new ones this year. The company is building, has recently opened or has announced plans for assembly plants outside China in 10 countries on three continents. The speed and scope of this expansion have caught the global auto industry off guard and triggered protectionist tariffs in the US and EU, where policymakers fear Chinese players such as BYD will, in the words of Elon Musk, “demolish” their domestic automakers.
Re: BYD quarterly sales beat Tesla for first time
#7Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
Wow, really good that Tesla has received no government subsidies then. :) https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275...
Is Tesla mentioned in the FT.com article? I can't access it.
On https://apnews.com/article/microchip-electric-vehicles-batte... Tesla is only mentioned by one state loosing a project.
"Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are getting big offers too, such as Rivian, Volkswagen-backed Scout Motors and Vietnamese automaker VinFast."
Re: BYD quarterly sales beat Tesla for first time
#8Earlier quoted context omitted.
Wow, really good that Tesla has received no government subsidies then. :) https://www.ft.com/content/8179bd8a-4d96-43a9-a8f9-074f9a275...
Is Tesla mentioned in the FT.com article? I can't access it. On https://apnews.com/article/microchip-electric-vehicles-batte... Tesla is only mentioned by one state loosing a project. "Many of the companies drawing the biggest subsidy offers — such as Intel, Hyundai, Panasonic, Micron, Toyota, Ford and General Motors — are profitable and operate around the globe. Some lesser-known names in the nascent EV field are ge…
Over $2bn in state and federal subsidies - https://archive.is/g5Gnb
Re: BYD quarterly sales beat Tesla for first time
#9Only 7.9 percent of all of their sales is outside of China. They can generate fancy numbers galore on domestic soil where they have both production subsidies as well as government aid for buying said vehicles, but it's very unclear how they're going to fare outside of China.
Only reason they wouldn't take off outside China is the astronomical tariffs the West are putting on Chinese cars (100% in the US).
Though depending on the wording, they may be able to just build a plant in Mexico and take advantage of NAFTA. I can't tell from the whitehouse post on the tariff if it's tied to country of the manufacturer or just country of origin (usually it's origin).
Re: BYD quarterly sales beat Tesla for first time
#10I think the wave of tariffs is showing that fundamentally cars are becoming low margin businesses with the rise of electric cars, which is good for consumers and bad for producers.