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China EV maker BYD closes in on Tesla as sales jump

  • Tesla reported its first full-year drop in sales as increased competition and slowing demand affected outcomes.
  • BYD Co Ltd. Sold 509,440 new energy passenger vehicles in December, a nearly 50% increase from last year, driven by plug-in hybrid sales.
  • Despite a decline, Tesla's annual sales of 1.8 million vehicles outpaced BYD by 24,000, keeping it as the largest EV maker.
  • Sales of electric vehicles continue to grow globally and in the U.S., albeit at a slower pace than before.
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Investor's Business Daily broke the news in on Tuesday, December 31, 2024.
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