BYD’s rise challenges Tesla—and its valuation
8 months, 3 weeks ago

BYD’s rise challenges Tesla—and its valuation

Live Mint  

BYD and Tesla, the world’s top two electric-vehicle makers, have a lot in common these days—except in terms of market value, where the U.S. company is roughly seven times as big. BYD’s Hong Kong-listed shares fell 6% Wednesday following the publication of its annual report, giving it a market value equivalent to roughly $86 billion, or 15 times forward earnings. Given that the companies are similar in scale, with BYD’s lower profitability arguably balanced by better growth prospects, why is Tesla’s market value on a totally different plane? Tesla’s “full-self-driving" software, which can drive its EVs in most situations but requires constant human supervision, has been getting more attention since the company started to roll out “version 12" late last year.

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History of this topic

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China
2 weeks, 1 day ago

BYD to outsell Ford, Honda, beat 2024 sales goals heartily as Tesla continues to struggle in China

Firstpost  

By the end of November, BYD had already delivered 3.76 million vehicles, including over 500,000 units in November alone, putting it on track to surpass its 4 million sales goal for the year The robust performance in China—where over 90 per cent of BYD’s sales occur—places the company ahead of Honda and Ford in global rankings for 2024. Image Credit: …

Elon Musk's Tesla hits $1 trillion market value after Trump win
1 month, 2 weeks ago

Elon Musk's Tesla hits $1 trillion market value after Trump win

India Today  

Tesla's market value closed above the $1 trillion mark in a sharp rally on Friday, on expectations that CEO Elon Musk's companies will get favourable treatment under President-elect Donald Trump for his extensive support during the poll campaign. "Tesla and CEO Elon Musk are perhaps the biggest winners from the election result, and we believe Trump's victory will help expedite …

Chinese EV maker BYD’s revenue beats Tesla for first time
1 month, 3 weeks ago

Chinese EV maker BYD’s revenue beats Tesla for first time

CNN  

Beijing — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. With third-quarter revenue up 24% on year to 201.1 billion yuan, BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. BYD, whose cars …

Chinese EV giant BYD posts 24.4% rise in profit
3 months, 3 weeks ago

Chinese EV giant BYD posts 24.4% rise in profit

Hindustan Times  

Leading Chinese automaker BYD posted on Wednesday a 24.4 percent rise in net profit for the first half of 2024, boosted by continuing strong demand for electric cars in its home and overseas markets. Chinese EV giant BYD posts 24.4% rise in profit The company posted a net profit of $1.91 billion in the January-June period, up from $1.54 billion …

Tesla shares rally over 10% as quarterly deliveries beat estimates
5 months, 3 weeks ago

Tesla shares rally over 10% as quarterly deliveries beat estimates

Hindustan Times  

Tesla's global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company's products and electric vehicles overall. For the first half of the year, Tesla sold 830,766 electric vehicles worldwide, handily beating China's BYD, which sold 726,153 EVs. Tesla also sold over 33,000 more vehicles during the second …

Tesla sales fall in Q2 despite price cuts
5 months, 3 weeks ago

Tesla sales fall in Q2 despite price cuts

Associated Press  

DETROIT — Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. AP AUDIO: Tesla sales fall for second straight quarter despite price cuts, but decline not as bad as expected AP correspondent Tom Krisher reports Tesla sale numbers may be …

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles
8 months ago

Tesla Quarter 1 profit falls 55%, company plans move to cheaper vehicles

Hindustan Times  

Tesla’s first-quarter net income plummeted 55%, but its stock price surged in after-hours trading Tuesday as the company said it would accelerate production of new, more affordable vehicles. On a conference call with analysts, CEO Elon Musk said he expects production to start in the second half of next year “if not late this year.” New factories or massive new …

Tesla shares tumble below $150 per share, giving up all gains made over the past year
8 months ago

Tesla shares tumble below $150 per share, giving up all gains made over the past year

Associated Press  

Tesla’s stock tumbled below $150 per share, giving up all of the gains made over the past year as the electric vehicle maker reels from falling sales and steep discounts intended to lure more buyers. Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers. Dan Ives, …

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn
8 months, 1 week ago

Tesla share price falls 37% in 2024 as Elon Musk’s EV maker suffers demand slowdown; market value drops below $500 bn

Live Mint  

Tesla share price extended fall for 2024, pushing its market valuation briefly below $500 billion amid a round of job cuts this week underscoring that the company’s growth has slowed. Tesla shares have not closed with a market value under $500 billion since late April last year and stayed narrowly above the mark as of Tuesday’s close, Bloomberg News reported. …

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?
8 months, 1 week ago

Is the global EV bubble bursting? As global demand starts to slow, share prices tank and Tesla cuts 10% of the workforce....are car giants ready to slam the brakes on electric revolution?

Daily Mail  

Elon Musk's announcement that Tesla will lay off ten percent of its workforce shocked many but it may be inline with figures that suggest the global demand for electronic vehicles is slumping across the world. In the first quarter of 2024, the two biggest manufacturers of electronic vehicles, Tesla and its Chinese rival BYD reported dramatic sales drops compared against …

Why Tesla’s electric car bubble is threatening to burst
8 months, 3 weeks ago

Why Tesla’s electric car bubble is threatening to burst

The Telegraph  

The drop, the first since 2020, was far below even the most gloomy expectations of investment analysts. The company blamed the tough start to the year on teething problems with the production of its updated Model 3 at its Californian factory and “factory shutdowns resulting from shipping diversions caused by the Red Sea conflict and an arson attack at Gigafactory …

Tesla sales fall short of estimates in first drop since 2020
8 months, 3 weeks ago

Tesla sales fall short of estimates in first drop since 2020

LA Times  

Tesla sales fell short of estimates in the first three months of this year. Tesla Inc. suffered its first year-over-year sales drop since the early days of the COVID-19 pandemic. Wall Street had rapidly lowered projections for the Austin-based company’s deliveries as the first quarter came to a close, including some analysts who correctly predicted that the tally would come …

Tesla valuation drops by $80 billion after Elon Musk's sales warning
10 months, 4 weeks ago

Tesla valuation drops by $80 billion after Elon Musk's sales warning

Hindustan Times  

Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition. Elon Musk warned that global Tesla sales might hit a slump Musk said on Wednesday that growth would be …

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call
10 months, 4 weeks ago

Tesla loses over $82 billion, stock plunges 12% in a single day after ‘disastrous’ earnings call

Firstpost  

The stock value of Tesla saw a significant dip of just over 12% on Thursday following remarks by CEO Elon Musk highlighting the challenges posed by Chinese electric-car manufacturers, whom he referred to as “the most competitive car companies in the world.” During Tesla’s earnings call on Wednesday, Musk praised Chinese carmakers such as BYD, Geely, and SAIC, emphasizing their …

A Lamborghini-style EV: BYD goes upmarket to outmaneuver Tesla
11 months ago

A Lamborghini-style EV: BYD goes upmarket to outmaneuver Tesla

Live Mint  

HONG KONG—BYD overtook Tesla as the world’s top electric-vehicle seller by pumping out a range of affordable cars that gave Chinese drivers what they wanted: choice. In China, the world’s biggest EV market, Tesla’s market share has been shrinking: BYD now sells five cars to every one that the U.S. automaker does. BYD is estimated to have sold around 13,000 …

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down
11 months, 1 week ago

Elon Musk’s Tesla loses $94 billion in market valuation as global EV market slows down

Firstpost  

Tesla, after a stellar 2023 where its shares more than doubled, is facing a rocky start to 2024, marking its worst beginning to any year in its history. Tesla’s market capitalization has taken its biggest hit since going public in 2010, with a 12% drop since the start of January, the largest in percentage terms since 2016. Despite Tesla’s recent …

China’s BYD is rivaling Tesla in size. Can it also match its global reach?
11 months, 3 weeks ago

China’s BYD is rivaling Tesla in size. Can it also match its global reach?

Associated Press  

BEIJING — A less flashy Chinese electric vehicle maker is fast closing the gap with Tesla, the longtime, market-leading pioneer. The rise of BYD and other Chinese electric vehicle makers is a challenge not only for Tesla but also the world’s major automakers as Chinese competitors push into Europe, Southeast Asia and other overseas markets with a relatively affordable option …

China’s BYD to reward dealers with gifts worth 2 billion Yuan for hitting sales target, beating Tesla
11 months, 3 weeks ago

China’s BYD to reward dealers with gifts worth 2 billion Yuan for hitting sales target, beating Tesla

Firstpost  

The Chinese automaker BYD has surpassed Tesla in global electric car sales during the fourth quarter last year, and plans to give away rewards amounting to billions of yuan to its Chinese dealers, said a Reuters report, quoting sources familiar with the matter. The number 666 holds significance in China, as it sounds like the word for “cool” or “amazing.” …

Tesla loses crown as world’s favourite electric car maker
11 months, 3 weeks ago

Tesla loses crown as world’s favourite electric car maker

The Telegraph  

BYD, which has pledged to “demolish” Western incumbents, has recently expanded beyond China by selling cars in the UK and Europe. The company had already overtaken Tesla in total sales, which include plug-in hybrid cars. Tesla’s delivery numbers last year were only slightly higher than market expectations of around 483,200 cars. Tesla has embarked on a price war to boost …

BYD set to overtake Elon Musk's Tesla as ‘world’s most popular EV maker’
11 months, 3 weeks ago

BYD set to overtake Elon Musk's Tesla as ‘world’s most popular EV maker’

Hindustan Times  

China’s BYD Co. bills itself as the biggest car brand you’ve never heard of. “The competitive landscape of the auto industry has changed,” said Bridget McCarthy, head of China operations for Shenzhen-based hedge fund Snow Bull Capital, which has invested in both BYD and Tesla. BYD began preparing long ago to be able to do this faster than anyone thought …

Tesla delivers 88,869 China-made EVs in March: Report
1 year, 8 months ago

Tesla delivers 88,869 China-made EVs in March: Report

Hindustan Times  

Tesla sold 88,869 units of China-made electric vehicles in March for both domestic sales and exports, up 35.0% from a year ago, data published by the China Passenger Car Association showed on Tuesday. By comparison, BYD sold 206,089 units last month with its Dynasty and Ocean series of EVs and hybrids, up 97.5% from a year ago, CPCA data showed. …

Tesla wreaks havoc in China’s EV market with new price war, gives 50% discount on all cars
1 year, 9 months ago

Tesla wreaks havoc in China’s EV market with new price war, gives 50% discount on all cars

Firstpost  

Tesla is majorly disrupting the EV market in China and is giving 50% discounts on its cars. Tesla Inc. sparked a price war in China, threatening to reshape the world’s largest automobile market, with steep reductions threatening to force some manufacturers out of business. In January, Tesla’s locally manufactured vehicles were up to 14 per cent cheaper than last year, …

How Tesla's up to 50% discount in China sparking turmoil in car market?
1 year, 9 months ago

How Tesla's up to 50% discount in China sparking turmoil in car market?

Hindustan Times  

Tesla Inc. triggered a price war in China that’s poised to reshape the world’s biggest car market, with hefty discounts threatening to drive some automakers out of business. With the increasing adoption of EVs, China’s auto market is going through a “a very profound reshuffle,” Nio Chief Financial Officer Steven Feng said in an interview with Bloomberg Television on Wednesday. …

Inside Tesla’s terrible year, and what comes next for the electric car giant
1 year, 11 months ago

Inside Tesla’s terrible year, and what comes next for the electric car giant

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Len Sherman, an adjunct professor at Columbia Business School who used to own Tesla stock and worked …

Tesla shares plunge 13 percent on growth concerns
1 year, 11 months ago

Tesla shares plunge 13 percent on growth concerns

Al Jazeera  

Once worth more than $1 trillion, Tesla lost more than 65 percent in 2022 and $60bn on Tuesday alone. Tesla Inc shares started 2023 where they left off last year, plunging more than 13 percent on Tuesday on growing worries about weakening demand and logistical problems that have hampered deliveries for the world’s most valuable automaker. Tuesday’s slide knocked off …

BYD Auto Remains EV Market Leader, Widens Leadership Gap With Tesla in Q3 2022
2 years ago

BYD Auto Remains EV Market Leader, Widens Leadership Gap With Tesla in Q3 2022

News 18  

China’s BYD Auto remained the global market leader, shipping more than 537,000 EV units – an increase of 197 percent – in the third quarter this year, leaving Elon Musk-run Tesla far behind globally. On the other hand, Tesla’s global sales grew only 43 percent YoY in Q3 2022 to over 343,000 units, according to Counterpoint Research. BYD’s overseas operations …

China’s BYD was written off by Elon Musk. Now it’s beating Tesla
2 years, 4 months ago

China’s BYD was written off by Elon Musk. Now it’s beating Tesla

Al Jazeera  

The Shenzhen-based electric carmaker sold more than 641,000 vehicles in the first half of 2022. Now domestic brands offer more choice – so no wonder the sales of BYD are better than Tesla’s.” BYD’s spectacular rise comes despite years of naysaying about the quality and safety of China’s electric vehicles, underscored by staggeringly high recall rates across the industry that …

Tesla’s earnings report: Here are 8 things investors will be looking for
3 years, 5 months ago

Tesla’s earnings report: Here are 8 things investors will be looking for

CNN  

CNN — Tesla is the most secretive automaker on the planet, so investors are always eager to pore through its quarterly report and conference call, when they finally can get more than tweet-sized morsels of information. I think that’s the linchpin to the stock going up or down.” Although Chinese sales of EVs from other automakers are reportedly growing, Tesla’s …

Tesla’s weak sales in China worry investors
3 years, 7 months ago

Tesla’s weak sales in China worry investors

CNN  

New York CNN Business — Tesla’s recent run of bad publicity in China is apparently hurting its sales there, raising investor concerns. And there were reports that China’s military had banned Tesla vehicles from entering its complexes, expressing concerns that cameras equipped onboard could be used for spying, a charge Tesla CEO Elon Musk denied. The sales numbers show that …

Tesla stock is tumbling. 4 reasons why
3 years, 10 months ago

Tesla stock is tumbling. 4 reasons why

CNN  

New York CNN Business — Tesla, the hottest stock in the market for more than a year, has sunk into bear market territory. But on Saturday, in response to a critic of Tesla’s bitcoin investment, Musk tweeted that the prices of both bitcoin and another cryptocurrency called Ether “do seem high.” That <a href="https://www.cnn.com/2021/02/23/investing/bitcoin <a href="> -prices-fall-yellen-gates/index.html” target=”_blank”>helped to send …

Okay, it’s time to stop dissing electric car manufacturers
4 years ago

Okay, it’s time to stop dissing electric car manufacturers

Live Mint  

Business disruption in 2020 wasn’t just about the pandemic. Much was achieved by Tesla Inc. of the S, X, Y and 3 model vehicles, giving it a market capitalization of $539 billion, or more than Japan’s Toyota Motor Corp., Germany’s Volkswagen AG and Detroit’s General Motors Co. combined. None of the industry’s Top 10 exclusively manufactured EVs in 2015; this …

4 insane things just happened to Tesla
4 years, 3 months ago

4 insane things just happened to Tesla

CNN  

New York CNN Business — We’re barely a week into September and it’s already been a wild month for Tesla. Stock sale On September 1, Tesla announced plans to sell up to about $5 billion in new shares., a day after it split its stock that cut the price of each share by a fifth. Tesla didn’t give many specific …

Tesla Worth More Than Traditional Carmakers Combined: Amitabh Kant Tells Future of EVs in One Tweet
4 years, 4 months ago

Tesla Worth More Than Traditional Carmakers Combined: Amitabh Kant Tells Future of EVs in One Tweet

News 18  

While electric vehicles have been running on the roads for the last 2 decades, it's only in the last 5 years that the call to make electric cars more accessible to mass market has amplified and the reason for such a drastic push towards electric vehicles is the decreasing EV cost and rising electric range, making them as worthy as …

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