Shulou(Shulou.com)11/24 Report--

CTOnews.com October 20 news, CNBC today interviewed Tesla former board member, Westly founder Steve Weisley said that for the first time that Tesla has a real challenger, that is BYD.

He said BYD could produce a million electric cars this year, compared with 60,000 for Ford and GM is trying to reach 50,000. "so now it looks like it's a contest between Tesla and China [the giants]."

Tesla today reported a third-quarter profit of nearly $3.3 billion, but revenue of $21.5 billion fell short of market expectations, CTOnews.com reported. Tesla lowered his full-year growth forecast because he expected full-year car delivery to be slightly lower than the previous target of a 50 per cent increase in delivery, although Mr Musk dismissed fears of weaker demand amid fears of recession.

As Tesla reported near-record quarterly profits, Mr Musk said the company expected "there will be no shortage of sales for every car we produce in the foreseeable future".

Strong vehicle pricing helped Tesla make a profit of nearly $3.3 billion in the three months to the end of September, higher than previously expected by analysts surveyed by FactSet. This is about the same as the company's record profit of more than $3.3 billion in the first quarter.

It is worth mentioning that the global ranking of new car sales in the first half of 2022 (January-June) released by the research company MarkLines shows that Toyota has retained the first place for three consecutive years, but the change in the ranking of the industry with pure electric vehicles as the core has begun, with Tesla's sales reaching 560000 vehicles, jumping to 17th place from the top 20 last year. BYD, which focuses on pure electric vehicles, jumped to 14th place with sales of 640000 vehicles.

In the first nine months, BYD's total sales of pure electric and hybrid plug-in vehicles rose 250 per cent to 1.2 million, surpassing the 110 per cent growth in the electric vehicle sector as a whole.

According to the latest data released by Tesla and BYD, Tesla's global sales in the third quarter were 343830 vehicles, up 3% from a year earlier and lower than market expectations. At the same time, BYD sold 537164 new energy passenger vehicles, an increase of 187.01% over the same period last year.

In September alone, BYD sold 201259 new energy vehicles, a year-on-year increase of 249.56% compared with 71099 in the same period last year. In the third quarter, BYD sold 537164 new energy vehicles, nearly 200000 more than Tesla. Continue to maintain its position as the world's number one manufacturer of electric vehicles by sales.

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