Tesla

For the full year 2023, Model Y retail sales in China were up 44.74 percent year-on-year to 456,394 units, while Model 3 sales were up 18.33 percent year-on-year to 147,270 units.

In the fourth quarter, Tesla sold 169,935 vehicles in China, accounting for 35 percent of its global deliveries of 484,507 vehicles.

This is Tesla's biggest recall in China, involving potentially all delivered vehicles.

China-made Tesla vehicles sold 248,686 units in the fourth quarter, contributing 51.33 percent of its global deliveries.

BYD sold 526,409 passenger BEVs in the fourth quarter, 8.65 percent higher than Tesla's 484,507 global deliveries.

Tesla delivered 484,507 units in the fourth quarter, beating market expectations of 483,173 units.

Customers who ordered a rear-wheel-drive version of the Model 3 that had already been produced between January 1 and January 31 will receive an insurance subsidy of RMB 6,000 yuan. The amount is lower than last month's RMB 8,000.

Tesla is currently working on preparations for the updated Model Y in China, which could begin mass production as early as mid-2024, according to Bloomberg.

A land acquisition and signing ceremony for Tesla's Megapack project was held in Shanghai on Friday morning, marking the official start of what the company called a "milestone project".

BYD has caught up with Tesla's 17 percent share of the global BEV market in the third quarter and is expected to overtake Tesla as the global leader in the fourth quarter, Counterpoint Research said.