BYD makes an average net profit of about $1,250 from the sale of each car, according to Late Finance.
Tesla, on the other hand, earns more than $8,250 per car, based on a net profit of $14.9 billion and sales of 1.81 million vehicles in 2023. This shows that BYD is chasing market share, not profit.
Last year, BYD sold 2,706,075 cars in China, followed by Tesla with 603,664 cars. Sales of Leapmotor, which ranks tenth, amounted to 144,155 units.
Despite the low profit level in 2023, BYD has actually increased its profit level compared to previous years. BYD's cash reserves have increased eightfold since the end of 2019. Until 2021, the company did not actually earn money from selling cars. And in 2022, it reached a profit level of about $ 750 per car.
