Tesla remains the most profitable automaker

Tesla's turnover for the third quarter of 2024 was $25.2 billion. In this indicator, it is ahead of BYD - $28.24 billion (+24%). But in terms of net profit and the number of cars sold, Tesla is ahead of its closest competitor.

According to the Four Wheels publication, the net profit of the Chinese giant from July to September increased by 11.5% (to $1.63 billion) compared to the same period last year, and for the first nine months of the year, the progress in this indicator was 18.1%. At the same time, Tesla's net profit was $2.17 billion (+17%).

BYD is only slightly behind Tesla, having delivered 443,426 electric vehicles to customers in the third quarter (+2.7% compared to last year) against 462,890 units sold by the Californian company. BYD currently accounts for more than a third of all electric and hybrid vehicle registrations in China, meaning it has every chance of surpassing its competitor by the end of the year. It should be noted that both companies operate with the financial support of their governments.

BYD's main focus remains hybrid vehicles. During the reporting period, sales increased by 75.6% (to 685,830 units).

In the European market, BYD sold a total of 94,477 vehicles in three months, an increase of 32.6% compared to the same period last year.