BYD’s aggressive year-end sales push worked. China’s leading EV maker sold a record number of vehicles in 2024, but

Chinese electric-vehicle growth continued in December, with BYD set to take the crown of largest seller from Tesla for the second time. Growth alone, however, wasn’t enough to give all the Chinese EV stocks a boost.

China’s BYD Co. enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year, narrowing its gap with Tesla Inc. as the two vie for the crown of top-selling electric-vehicle maker of 2024.

The EV giant sold 1.76 million electric cars in 2024, per figures released on Wednesday, putting it within touching distance of beating Tesla.

Leading Chinese electric car maker BYD's vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.

Chinese electric-vehicle makers enjoyed strong sales in December 2024 as the country’s EV price war continued.

Tesla's China sales grew 8.8 percent in 2024 to over 6,57,000 units, accounting for 36.7 percent of its deliveries, despite global sales declining by 1.1 percent. BYD delivered 1.76 million EVs globally and expanded exports but missed its target.