Can Tesla Stay Ahead of the EV Competition?

Reddit // u/Electrical_Ingenuity

No other electric car manufacturer came close to Tesla’s sales in 2023. However, with the market filling up with more and more EVs, can Tesla still keep their number-one spot in 2024? Or, is it time for someone else to take over the EV market?

Tesla

According to Tesla, the company made a whopping 1,808,581 deliveries in 2023. This number puts Tesla at a 38% growth rate. The company proudly says that they’ve reached their production goal for 2023 with a fourth-quarter output of nearly 500,000 units total.

BYD and Rivian

While Tesla didn’t have a competitor in 2023, BYD looks like it may give the company a run for its money in 2024. BYD sold ​​3.02 million cars last year and boasted a 62% year over year. Another company that may reach Tesla’s success is Rivian. They delivered 13,972 cars last year, but are 10% down from the third quarter of last year. Rivian had 57,232 units produced in 2023 and is showing promise for the coming year.

Reddit // u/EddieCaffine

We’ll just have to wait and see which EV company comes out on top!