Tesla Maintains Global EV King's Throne During First Quarter 2024

JAKARTA - Tesla managed to continue the trend of electric car (EV) leaders in the first quarter of 2024 by sending 386,810 units. However, this number is 9 percent lower than last year's acquisition.

Reporting from InsideEVs, Friday, April 19, BYD received sales of 300,114 EV units during the early quarter or up 13 percent. This brings the distance between the two companies quite close compared to the first three months of last year.

Following the two giants, Volkswagen Group which includes brands such as VW, Audi, Porsche, Cupra, and others complements the top three by obtaining 136,136 units, down 3 percent compared to last year.

Despite securing the top three positions, Volkswagen Group's potential can be followed by two giants from other China, namely SAIC and Geely Holdings. It said the two had excelled from the German group in February.

This year has the potential to be a tough challenge for a number of these companies and it is estimated that the number could be lower than last year, given the number of factors affecting the market, including price wars.

As an illustration, Tesla led global EV sales in 2023 with a total of 1,808,581 units, an increase of 38 percent, followed by BYD reaching 1,574,822 units, an increase of 73 percent with a difference of 1,039,552 electric vehicles.

Meanwhile, Volkswagen Group earned 769,029 last year, up 35 percent. This figure represents 42.5 percent of Tesla's proceeds.