EV & hybrid sales up for BYD

Tesla recalls two million cars in U.S. and faces head-on challenge by China’s BYD for world’s top electric car-maker

Tesla recalled more than two million cars in December 2023 after the U.S. regulator found its driver assistance system, Autopilot, was partly defective, it was reported.

It follows a two-year investigation into crashes which occurred when the tech was in use. The recall applies to almost every Tesla sold in the U.S. since the Autopilot feature was launched in 2015.

The update happens automatically and does not require a visit to a dealership or garage but is still referred to by the U.S. regulator as a recall.

The UK Driver and Vehicle Standards Agency reportedly said it was not aware of any safety issues involving Teslas in the UK, noting that cars sold in the UK are not equipped with all of the same features as cars in the U.S.

Chinese company, Build Your Dreams (BYD), has moved another step closer to over-taking Tesla as the world’s biggest-selling manufacturer of electric vehicles.

The firm said on Monday it had sold a record 526,000 battery-only vehicles in the last three months of 2023, aided by more than a 70% surge in sales in December 2023.

Tesla is scheduled to release its latest quarterly vehicle production and delivery figures before Wall Street opens on Tuesday.

For the year, BYD said it had sold more than 3 million new energy vehicles (NEVs), which includes battery-only vehicles and hybrids. Almost 1.6 million of its total sales were battery-only vehicles, the firm said.

Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.

Tesla 3 year share chart

Tesla 3 year chart

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