Sure, but Teslas competition isn’t really BYD. The competition is EV vs ICE vehicles. BYDs product mix is more towards the low end although they do have a couple of models that compete head to head.
There is plenty of room in the market for BYD and Tesla. For the next decade at least we won’t reach the saturation point for EVs. Remember it I will end up eating pretty much the entire ICE market barring some incredibly small niche segments.
We are looking at 2035 or 2040 before EV players really start going head to head for the same slice of the pie instead of just growing the pie.
Can confirm. My anecdotal (!) experience: recently went car shopping. The cheapest EV that I liked was the Mustang Mach E, about 56,000 USD and a 9-12 month wait time.
I ended up going with a Mazda CX-5. Out the door price was around 36,000 USD and it was available that day.
EV companies need to make cars that are affordable first. So far they only seem to target the luxury car market.
I came across about 50 Mach E vehicles a couple of weeks back stored in unusual location, between a country club and upscale mall. Struck me as odd given the spot doesn’t generally get used for new vehicle storage and just the sheer number of them.
Really? It starts at 52,000 USD for a new 2023 model, that’s not including taxes and other fees. Where are these mystical “under 30k” offers? Is it for a new or used model?
Tesla changes pricing frequently but I just went to their site and they are showing a base Model 3 RWD at $32,740 after the $7,500 federal tax credit. So that would put it at just over $40k before incentives. Also remember that several states also have incentives that may apply.
There is plenty of room in the market for BYD and Tesla. For the next decade at least we won’t reach the saturation point for EVs. Remember it I will end up eating pretty much the entire ICE market barring some incredibly small niche segments.
We are looking at 2035 or 2040 before EV players really start going head to head for the same slice of the pie instead of just growing the pie.