Tesla just had a phenomenal quarter so no, this is just the mediocre overpriced EV's being sold at a loss by legacy auto.
One person sees a roughly flat multi-year sales chart (true) and another sees significant growth in the last quarter (true) and somehow they arrive at opposite conclusions.
They are so vertically integrated, control much of their supply chain, and are not hamstrung by an increasingly erratic and irrational CEO.
Test drove both Model 3 Performance and BYD Seal Performance both before settling on a Tesla, it was close. Price wise about 20% cheaper (I am in a country that does not put tariffs on BYD).
But currently, the BYD software is….. not great, comparatively. The cars are decently made though, and look pretty good. Drive ok, but M3P is a much sharper drive.
Another vehicle generation of improvement though, Tesla would need to watch their backs.