By LIU Jiaxin

Tesla achieved its 2023  goal of 1.8 million deliveries, up 38 percent.

The US-based EV maker delivered 484,500 in Q4, somewhere short of  BYD’s reported sales of 526,400. It was the first time BYD beat Tesla in a single quarter and reached 1.6 million deliveries for the year, up by 73 percent. 

Price reductions in 2023 mean Tesla's gross profit margin dropped to a four-year low of 17.9 percent. In contrast, BYD's profitability strengthened.

Tesla may now consider selling its Full Self-Driving (FSD) system to other car makers, emphasizing that vehicle sales volume is not the sole determinant. Vertical integration in the supply chain could be crucial for Tesla.

Tesla is scheduled to release its 2023 financial results on January 25.