Tesla reclaims EV crown from BYD amid overall sales drop

U.S. and Chinese electric vehicle giants report sharp Q1 delivery declines

COPY) 20230131 BYD TESLA

Both Tesla and BYD face softening EV demand and intensifying competition in China. (Source photos by BYD and Getty Images)

YIFAN YU, Nikkei staff writer

PALO ALTO, California -- Tesla has reclaimed the title of the world's top EV seller in the first quarter after losing it to BYD last year.

However, both the U.S. and Chinese automakers reported a sales decline for the past three months as competition intensifies in the EV market and overall demand softens in China amid economic pressure.

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