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03-01-2026
BEIJING: China’s BYD is set to overtake Elon Musk’s Tesla as the world’s biggest seller of electric vehicles (EVs), marking the first time it has outpaced its American rival for annual sales.
On Thursday, BYD said that sales of its battery-powered cars rose last year by almost 28% to more than 2.25 million.
Tesla, which is due to reveal its total sales for 2025 later on Friday, last week published analysts’ estimates suggesting that it had sold around 1.65 million vehicles for the year as a whole.
The US firm has faced a tough year with a mixed reception to new offerings, unease over Musk’s political activities and intensifying competition from Chinese rivals.
Chinese firms such as Geely, MG and BYD, now the country’s largest electric car company have put pressure on Western rivals by pricing their vehicles below established brands.
In October, Tesla responded by launching lower-priced versions of its two bestselling models in the US in a bid to boost sales.
Musk, who is already the world’s richest man, is tasked with significantly boosting Tesla’s sales and stock market value over the next decade to secure a record-breaking pay package. The deal, which was approved by shareholders in November, could see him getting a payout of as much as $1tn (£740bn).
As part of the agreement, Musk also has to sell a million humanoid robots over the next ten years. Tesla has invested heavily in its “Optimus” product and self-driving “Robotaxis”.
Tesla sales slumped in the first three months of 2025 after a backlash against Musk’s role in US President Donald Trump’s administration.
Besides Tesla, the multi-billionaire’s business interests also include the social media platform social media, the rocket firm SpaceX and the Boring Company, which digs tunnels.
Those commitments, along with running Trump’s Department of Government Efficiency (Doge), led some investors to suggest that Musk was not focusing enough on Tesla. Since then Musk has pledged to “significantly” cut back his role in the US government.
Tesla sales plunge after Elon Musk backlash
Tesla sales have plummeted to their lowest level in three years after a backlash against its boss Elon Musk.
The electric car maker delivered almost 337,000 electric vehicles in the first three months of 2025, a 13% drop from a year ago.
Tesla shares tumbled in early trading on Wednesday after the release of the low sales numbers. The cars face increasing competition from Chinese firm BYD, but experts believe Musk’s controversial role in the Trump administration has had an effect too. The firm has blamed the sales drop on the transition to a new version of its most popular car.
However some analysts have pointed the finger at Musk himself.
“These numbers suck,” early Tesla investor Ross Gerber of Gerber Kawasaki Wealth and Investment Management wrote on social media.
“The brand is broken and may not be fixable”, added Gerber, who was once a Musk supporter but has recently called for the board to remove the billionaire as CEO.
There have been protests and boycotts around the world prompted by Musk’s outspoken and controversial political involvement.
He has been heading up President Donald Trump’s Department of Government Efficiency (DOGE) initiative to cut federal spending and slash the government workforce. (Int’l Monitoring Desk)
