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 its sales jump at the end of last year, as it competes with Tesla to be 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'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 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.’s annual vehicle sales dropped for the first time in more than a decade despite a year-end push that sent deliveries to a record in the fourth quarter.

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,