Are electric vehicles experiencing a decline in sales? Both Tesla and BYD have reported a significant slowdown in their sales.

Tesla and BYD, two of the world’s biggest EV producers, have both released sales figures for the first quarter of 2024, with the two companies experiencing a sharp downturn compared to the hugely successful end to the previous year. Tesla has been enjoying quarterly increases in vehicle deliveries since a blip in the second quarter of 2022, but that all changed this month when it announced that its numbers have plummeted from a record high of 484,507 EVs at the tail end of last year, to just 386,810 at the start of 2024.

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