Chinese electric-vehicle growth continued in December, with BYD taking the crown of largest global seller from Tesla for the second time. Growth alone, however, wasn’t enough to give all Chinese EV stocks a boost on Thursday.

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.