Vehicle sales at China’s BYD soared 58 per cent in the first three months of the year in a stark contrast to continuing declining demand for Tesla’s electric vehicles across Europe.
The Shenzhen-based group said on Tuesday that it delivered 986,098 passenger vehicles in the first quarter, of which 416,388 were pure EVs, up 39 per cent. The strong start to the year came as BYD’s annual sales recently topped $100bn for the first time on the back of resurgent demand in hybrid vehicles in its home market.
Meanwhile, analysts warned that Tesla’s first-quarter deliveries released this week were likely to show a drop of more than 10 per cent as sales in France and other European markets continued to fall in March despite a key model upgrade.
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