BYD’s aggressive year-end sales push worked. China’s leading EV maker sold a record number of vehicles in 2024, but

Chinese EV maker enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year. Read more at straitstimes.com.

U.S. electric vehicle maker Tesla said on Friday its China sales rose 8.8% to a record high of more than 657,000 cars in 2024, a strong performance in a competitive market in a year when its annual global deliveries fell for the first time.

The Chinese automaker BYD, which makes fully electric and hybrid vehicles, just announced record sales for the year.

BYD, China’s largest EV maker, delivered 207,734 all-electric vehicles in December, up about 9% year over year. Tesla delivered just under 496,000 EVs in the fourth quarter. Tesla sold 1.79 million, down about 1%.

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.

Leading Chinese electric car maker BYD's vehicle sales surged in 2024, the company said in a statement, as the firm grows its overseas presence.

Tesla rivals BYD, Nio Li Auto, XPeng and Zeekr all reported record December China EV sales as the price war intensified.

Tesla's China sales grew 8.8 percent in 2024 to over 6,57,000 units, accounting for 36.7 percent of its deliveries, despite global sales declining by 1.1 percent. BYD delivered 1.76 million EVs globally and expanded exports but missed its target.