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.

Chinese car maker BYD saw sales jump at the end of last year, leaving it closer to claiming the title of the world's best-selling electric vehicle (EV) maker of 2024. The company says it sold 207,734 EVs in December, taking its annual total to 1.76 million, as subsidies and discounts helped attract customers.

BYD sets a new EV sales record, narrowing the gap with Tesla. Discover how the Chinese automaker is challenging Tesla’s dominance in the electric vehicle market.

BYD's sales jumped significantly at the end of 2024, bringing the Chinese EV maker closer to Tesla in the race for global electric vehicle supremacy. With a 41% year-on-year increase, BYD's impressive performance comes amid growing competition,

Tesla's increase in global sales in the fourth quarter was not enough to overcome a sluggish first half of the year.

Tesla reported the first full-year drop in sales in its history as a public company Thursday, as increased competition and slowing demand for electric vehicles hit its results.

Tesla Inc. said Thursday it delivered 495,570 vehicles in the fourth quarter and 1.789 million for all of 2024, falling slightly short of analyst estimates and lagging the year-earlier total.

In the final quarter of 2024, Tesla built 436,718 Models 3 and Y and delivered 471,930, clearing out a stash of inventory in the process. It built an additional 22,727 electric vehicles—the elderly Models S and X and the divisive Cybertruck—and sold 23,