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16
2025
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Tesla’s value slumps sharply in annual Interbrand ranking, as BYD makes top 100 debut
Tesla’s brand value has plummeted significantly in Interbrand’s 2024 Global Best Brands Report, a highly influential annual ranking of global brand strength, while China’s BYD has entered the top 100 for the first time, marking a major shift in the global electric vehicle (EV) industry’s competitive landscape.
Tesla’s steep decline: Competition and demand weigh on brand strength
Interbrand’s report, which evaluates brands based on financial performance, brand influence, and customer loyalty, shows Tesla’s brand value dropped by 26% year-on-year to $430billion. This represents the company’s largest single-year decline since it entered the ranking in 2016.
- Intensified market competition: The global EV market has become crowded, with traditional automakers (such as Volkswagen and Ford) and emerging EV brands ramping up product launches, eroding Tesla’s early-mover advantage.
- Price war pressure: To stimulate demand amid slowing global EV sales, Tesla launched multiple rounds of price cuts in 2023-2024, which weakened its premium brand positioning and profit margins.
- Product innovation slowdown: Delays in new model rollouts (e.g., the Cybertruck’s prolonged production issues) and limited upgrades to existing models have reduced consumer enthusiasm for the brand.
BYD’s historic debut: A milestone for Chinese automakers
- Sales leadership: BYD sold over 3 million EVs and plug-in hybrids globally in 2023, surpassing Tesla to become the world’s top-selling EV manufacturer—a key driver of its brand recognition.
- Technological strength: The company’s self-developed blade batteries, DM-i hybrid system, and e-platform 3.0 have established its reputation for safety and efficiency in global markets.
- Global expansion: BYD has accelerated its overseas footprint, launching factories in Thailand and Brazil and expanding sales networks in Europe, Southeast Asia, and Latin America, further boosting its international brand influence.
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