China's BYD set to surpass Tesla in 2025 EV sales
Chinese automaker BYD is on track to surpass Tesla as the world’s largest electric vehicle (EV) company in annual sales for 2025.
Final figures for the year have yet to be published, but based on data so far, it appears unlikely that Tesla, led by Elon Musk, will retain its top position, News.Az reports, citing AFP.
By the end of November, Shenzhen-based BYD, which also produces hybrid vehicles, had sold 2.07 million EVs in 2025. Tesla, by comparison, had sold 1.22 million vehicles by the end of September.
Tesla’s September sales included a one-time boost of nearly half a million vehicles over three months, ahead of the expiration of a U.S. EV tax credit, which ended under legislation supported by President Donald Trump.
However, Tesla’s sales in the final quarter are expected to decline to around 449,000 vehicles, according to FactSet consensus, bringing its total 2025 sales to approximately 1.65 million—a drop of 7.7 percent and well below BYD’s year-to-date total by November.
Deutsche Bank projects Tesla will sell only 405,000 EVs in the fourth quarter, with sales expected to fall by about one-third in North America and Europe, and by roughly 10 percent in China.
Industry watchers say it will take time for EV demand to reach a level of equilibrium in the United States following the elimination of the $7,500 US tax credit at the end of September 2025.
Even prior to that, Tesla had seen sales struggle in key markets over CEO Musk's political support of Trump and other far-right politicians. Tesla has also faced rising EV competition from BYD and other Chinese companies and from European giants.
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