Tesla Rival BYD Reports 12% Jump In Vehicle Deliveries In June

Chinese EV maker and Tesla Inc.’s (TSLA) biggest global rival, BYD Co. (BYDDY, BYDDF), on Tuesday announced that it sold 382,585 new energy vehicles in June, including 206,884 battery electric vehicles, marking a growth of 12%.

New energy vehicles, or NEV, is a collective term for both battery electric and plug-in hybrid vehicles. BYD sold 377,628 passenger vehicles last month, including 170,744 plug-in hybrids, and 4,957 commercial vehicles.

Production, meanwhile, jumped 1% in June to 345,066 new energy vehicles, including a 34% increase in the manufacturing of battery electric passenger vehicles to 189,079 units.

BYD delivered 1,145,150 new energy vehicles in the second quarter through the end of June and 607,043 battery electric vehicles in the quarter.

This is likely to exceed the number of battery electric vehicles sold by Tesla in the three months. JPMorgan on Monday said that it sees Tesla Q2 deliveries falling from 444,000 a year ago to "just" 360,000 vehicles, representing a "sizable" 8% shortfall versus the Bloomberg consensus forecast for 392,000 deliveries, as per TheFly.

Tesla, unlike BYD, makes and sells only battery electric vehicles and no hybrids.

However, the rivalry between the two in sales of BEVs has been tight. In 2024, BYD sold 1,764,992 battery electric vehicles, while Tesla sold 1,789,226.

On Stocktwits, retail sentiment around BYDDF is currently trending in the ‘bearish’ territory, coupled with ‘normal’ message volume.

BYDDF stock is up by over 40% this year.

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