For much of the past decade, Tesla defined the global electric vehicle market. 

It was the company that proved EVs could be produced at scale, popularized electric cars, and set delivery records that competitors struggled to match.

But seven years of sales data now show that the balance of power has shifted.

The chart above shows battery-electric vehicle sales for Tesla and BYD from 2018 to 2025. 

It is according to the numbers from each company’s annual report. The chart tells a story that goes far beyond one strong quarter.

TL;DR

• BYD has overtaken Tesla in battery electric vehicle (BEV) sales after years of steady growth, ending Tesla’s long-held lead.
• The biggest reason isn’t China; it’s overseas markets, where BYD’s sales are growing rapidly even as demand weakens at home.

Seven Years of EV Sales Data Reveal How BYD Finally Caught Tesla

The Turning Point 

The turning point came around 2022.

While Tesla continued growing, BYD’s sales began increasing at a much faster pace. 

By 2024, the gap between the two companies had almost disappeared. By 2025, BYD had moved ahead, marking one of the biggest shifts the electric vehicle industry has seen since Tesla emerged as the market leader.

The pattern is striking because Tesla’s decline is not the main story. The data instead shows that Tesla’s growth has slowed while BYD’s has continued to accelerate.

That distinction matters.

A company can lose its leadership position even if it continues selling large numbers of vehicles. 

In Tesla’s case, annual deliveries remained at historically high levels, but growth flattened just as BYD was expanding production and entering more international markets.

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What about 2026? 

At first glance, many might assume BYD’s success is being driven by booming demand in China. The opposite is increasingly true.

BYD said its overseas vehicle sales jumped 94.7% year over year in June 2026 to 175,349 vehicles, while overseas sales in the first half of 2026 rose 70.7% to 792,256 vehicles. 

At the same time, the company experienced a 22% decline in domestic sales as China’s auto market slowed.

China’s vehicle market is facing growing pressure from fading government subsidies, weaker consumer confidence, and a prolonged property downturn.

 Industry forecasts now expect overall car sales in China to decline by 11% this year.

Instead of relying solely on its home market, BYD has increasingly looked abroad for growth.

That may be the most important takeaway from the latest numbers.

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The Brand People Once Doubted…

Just a few years ago, investors questioned whether BYD could become a truly global automaker. Today, overseas markets are becoming one of its fastest-growing businesses, helping offset slower demand at home.

The market appears to have noticed. Following the June sales announcements, BYD’s Hong Kong-listed shares rose around 9%, while Xiaomi, another Chinese EV maker, gained about 5% after reporting its own delivery figures.

The seven-year sales trend also highlights another important difference between the two companies.

ELI5

Tesla was the biggest electric car company for many years. But BYD kept growing faster every year until it finally sold more electric cars. 

What’s surprising is that BYD isn’t winning because China is buying more cars. It is winning because people in many other countries are buying its cars instead. That’s changing the global EV race.

Source: 

Tesla Investor Relations | BYD Annual Report