In an interesting take on the sales strategy of Tesla and BYD, some pretty surprising revelations emerge. Both these represent the pinnacle of what EV sales look like globally. BYD achieved a seemingly impossible feat of surpassing Tesla as the world’s largest EV maker. It claimed this title after the sales numbers of the last quarter of 2023 emerged. However, we must mention that Tesla was still able to beat BYD in overall sales for the calendar year. In this post, we take a look at the details of how Tesla deploys a real-time strategy to check the performance of its sales staff.
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Tesla Has Higher Sales Efficiency Than BYD Due To This Strategy
As per the information from people in the know of the matter, Tesla has a real-time strategy to keep an eye on its sales staff’s performance in each store. The American EV giant sold more than 1,500 EVs in every store in China in the first 10 months of 2023. This marks a significant growth from 1,300 cars in 2022 according to the data from China Merchants Bank International (CMBI). In comparison, BYD sold 600 cars per store including plug-in hybrids. However, the latter has much more stores than Tesla.
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Tesla manages its 2,800 sales staff across 314 stores in China on an hourly basis. It evaluates the effectiveness and efficiency of its workers to persuade potential buyers into the stores, arrange test drives and place orders. This real-time collection of data determines the pricing strategy for Tesla cars. As a result, the Chinese market witnessed seven price hikes and three price cuts last year. Hence, Tesla is able to monitor its revenues and profits regularly.
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The sales war between Tesla and BYD is eventually great for the consumers. They get the best deals from both these carmakers. The price wars also mean that the buyers end up getting huge discounts. This propels the mass adoption of EVs. Apart from that, the last quarter’s performance from BYD overtaking Tesla as the largest EV maker in the world can be concerning for Elon Must and Co. It would be interesting to witness what measures he comes up with in order to ensure that it doesn’t lag behind the Chinese auto giant in terms of EV sales consistently and considerably.