Tesla and BYD See Steep EV Sales Drops in Q1 2024, While Newer GM and Ford EVs Buck the Trend

Tesla posted its first annual drop in sales since 2020 as competition ate into demand; deliveries fell from 484,507 in Q4 2023 to 387,000 in Q1 2024
BYD also saw a steep drop in pure EV sales, from 525,409 in Q4 2023 to 300,114 in Q1 2024, though overall EV sales rose 13%
GM reported lower Q1 sales due to weaker EV demand and fewer fleet deliveries, with EV sales down 20.5% as Bolt discontinued
However, newer GM EVs like Lyriq, Hummer and Silverado saw strong growth, with 841% jump for those models combined
Ford started 2024 strong, with overall auto sales up 6.8% on robust truck and SUV demand; EV sales also jumped 86.1% driven by F-150 Lightning