According to the publication, Tesla has faced declining deliveries for the second consecutive year, with volumes dropping by about 9% in 2024. In contrast, BYD has shown steady growth in deliveries for five consecutive quarters.
Bloomberg believes that Tesla's challenges are related to the update of the Model Y, which required changes in production processes at its factories. Unlike Tesla, BYD offers a more diverse lineup, and the prices of most of the company's electric vehicles are lower than those of Tesla's popular models — the Model Y and Model 3.
Additionally, the agency emphasizes that Tesla's performance is negatively affected by Elon Musk's political activities, his connections with the Republican Party and former U.S. President Donald Trump, as well as his oversight of the Office of Federal Efficiency (DOGE).
“BYD is not present in the American market, but it actively competes in the fiercely competitive domestic market in China,” notes Bloomberg.
