BYD Surpasses Tesla in Global EV Sales
In December, Chinese electric vehicle (EV) manufacturer BYD surpassed Tesla as the largest global seller for the second time, delivering 207,734 all-electric vehicles, a 9% year-over-year increase. For the fourth quarter, BYD sold about 595,000 cars, more than Tesla's nearly 496,000. BYD's annual sales rose to 1.768 million cars, while Tesla's dropped to 1.79 million. Despite this, BYD shares dropped by 3.2% overseas, while Tesla's shares also fell by 3.2% premarket trading, despite a 63% gain in 2024 due to upcoming plans for a self-driving robotaxi service. Other Chinese EV makers XPeng, NIO, and Li Auto also reported significant year-over-year delivery increases in December: XPeng's deliveries rose by 82%, NIO’s by 73%, and Li Auto’s by 16%. However, XPeng, NIO, and Li Auto's shares have faced declines due to competition and other market factors. Combined, the three companies delivered 126,346 vehicles in December, making it their best month.