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.

BYD is closing in on Tesla after a record December closed off a good 2024 for the Chinese EV giant. The company sold 4.25 million new energy passenger vehicles last year, according to data released on Wednesday.

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.

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

Tesla’s global annual sales fell for the first time in more than a dozen years, a blow to a stock that has soared since Donald Trump’s election and its CEO billionaire became a top policy adviser to t

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’s global sales rose 2.3% in the fourth quarter, but the increase wasn’t enough to overcome a sluggish first half, and sales for the full year fell short of 2023 numbers