Tesla May Be Staring At Big Q1 Sales Miss, But Could Still Reclaim EV Crown From Buffett-Supported Chinese Competitor BYD
Portfolio Pulse from Shanthi Rexaline
BYD Co. Ltd. reported a year-over-year increase in Q1 BEV sales but saw a decline from the previous quarter. Despite this, Tesla, Inc. is expected to report a year-over-year drop in deliveries for the first time since COVID-19, potentially allowing BYD to maintain its lead as the world's biggest battery EV manufacturer. Tesla's Q1 delivery estimates are lower than consensus, amid slowing EV adoption and intense competition.

April 01, 2024 | 5:10 pm
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POSITIVE IMPACT
BYD reported an increase in Q1 BEV sales year-over-year but saw a decline from the previous quarter. Despite Tesla's expected delivery drop, BYD's position as the world's biggest battery EV manufacturer could be reinforced.
BYD's year-over-year growth in BEV sales, despite a quarterly decline, along with Tesla's expected delivery drop, could strengthen BYD's market position. This may positively influence BYD's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85
NEGATIVE IMPACT
Tesla is expected to report a year-over-year drop in deliveries for the first time since COVID-19, with Q1 delivery estimates lower than consensus. This news comes amid slowing EV adoption and intense competition.
The expected drop in Tesla's deliveries, despite price cuts and incentives, indicates potential challenges in maintaining its sales momentum. This could negatively impact investor sentiment and Tesla's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90