Munzir Hakimi38
New Trends Ahead
Tesla’s Sales Decline
Tesla experienced its first sales drop in over a decade, delivering nearly 1.79 million cars in 2024, down about 1% from the previous year. Despite multiple price cuts to attract buyers, demand has weakened as competition intensifies.
BYD’s Rapid Growth
In contrast, China’s BYD reported notable growth with 1.76 million EV sales, marking a significant increase of over 41% in total vehicle sales to more than 4.2 million units. The company thrives mainly on hybrid car sales and dominates the chinese market.
Market Challenges for EVs
The electric vehicle market faces challenges globally, with demand softening in regions like the US and Europe. Major automakers like Volkswagen and Ford have adjusted their sales targets amid rising competition and economic pressures.
