Despite the drop, Tesla outsold BYD's 300,114 Q1 deliveries, regaining the top spot in electric vehicle sales
Tesla delivered 386,810 vehicles in Q1 2024, 8.5% less than Q1 2023 and below analyst predictions. Both Tesla and BYD saw significant declines compared to Q4 2023, suggesting a potential slowdown in the EV market. Elon Musk suggests Tesla might be entering a period of slower growth, potentially lasting throughout 2024. Tesla says that it delivered just 386,810 vehicles during the first quarter of 2024, which is 8.5 percent less than it did in Q1 2023.
More: Elon Musk’s Behavior Is Driving Away Customers The Chinese automaker made waves when it became the leader in EV sales during Q4 2023. Now, it's experienced a drop-off of 43 percent compared to Q4 2023. That indicates a decrease in demand across the market and the world. While BYD didn't specify exactly why it saw a quarter-over-quarter nosedive, Tesla provided a few explanations for its own decline.
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