BEIJING ― China's BYD posted a 21 percent rise in second-quarter electric vehicle sales, closing the gap with Tesla after handing back the world's top EV vendor title to the US rival in the first quarter.BYD sold 426,039 EVs in the April-June quarter, according to Reuters' calculations based on its monthly sales reports. That's around 12,000 vehicles fewer than Tesla's vehicle deliveries estimated for the second quarter.
It warned in January that delivery growth in 2024 would be 'notably lower' as a boost from months-long price cuts wanes.The EV maker has cut output of its best-selling Model Y electric car by a double-digit percentage number at its Shanghai plant since March to address weakening demand for its aged models in China, its second-largest market after the United States, Reuters reported in May.