Tesla Shifts Gears to Overtake BYD as Chinese Giant Stalls Amid Price War

Stocks Analysis by Investing.com (Alessandro Bergonzi) covering: BYD Co Ltd-H, Tesla Inc, BYD Co Ltd Class A. Read Investing.com (Alessandro Bergonzi)'s latest article on Investing.com

BYD saw a Q1 slowdown, missing analyst expectations and posting its lowest annual growth in 4 years.As BYD stumbles, the stage is set for Elon Musk's company to pounce.) experienced a slowdown in the first quarter of 2024, raising concerns despite a net income increase of 10.6% year-on-year to 4.57 billion yuan .

BYD's struggles extend to sales, with only 300,000 battery-powered cars sold in Q1, significantly lower than the record 526,000 in Q4 2023. This decline resulted in Tesla reclaiming the global electric car sales crown after BYD's brief leadership.) started 2024 with job cuts and disappointing results.

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