Tesla's first-half sales dropped 13% to 720,803 vehicles, which is still better than expected. In contrast, BYD achieved a remarkable 41% increase in sales, surpassing the 1 million vehicle mark. Tesla's second quarter also reflected a decline of nearly 14%, totaling 384,122 vehicles sold. Despite this, shares rose 3.5% due to better-than-forecast results. Analysts believe upcoming changes in federal tax credits may stimulate demand for Tesla vehicles moving forward, as BYD's rapid growth presents a significant challenge for Tesla in the EV sector.
Tesla's first-half sales fell 13% to 720,803 vehicles, while BYD's global EV volumes surged 41% to surpass 1 million, marking a significant lead in the market.
Tesla's second quarter saw a decline of nearly 14% to 384,122 vehicles, slightly better than expected, and shares gained 3.5% following the results.
Analysts suggest that the expiration of the U.S. federal tax credit could significantly boost demand for Tesla's vehicles and improve sales performance moving forward.
BYD's impressive performance, with a 41% increase in first-half EV sales and reaching 1 million units, highlights Tesla's increasing challenges in dominating the EV market.
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