BYD's Q1 Sales Soar, Threatening Tesla's EV Dominance

Warren Buffett-backed Chinese carmaker BYD reported a 13% year-over-year increase in "new-energy" vehicle sales, including a 46% jump in March, while Tesla's stock has dropped nearly 30% year-to-date amid expectations of lower first quarter vehicle deliveries. The global EV race is heating up, with Chinese carmakers like BYD, Li Auto, Nio, and Xpeng reporting sales rebounds in March, posing increasing competition to Tesla. Analysts have revised down their projections for Tesla's first quarter vehicle deliveries, and the company is making efforts to boost sales, including shedding its aversion to digital advertising and offering free trials of its "Full Self-Driving" mode.