Tesla Falls Behind China’s BYD in Quarterly EV Sales as Growth Slows

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Tesla, based in Austin, Texas, exceeded its target to deliver 1.8 million vehicles for the year

(Bloomberg) — Tesla Inc. delivered more vehicles than expected in the fourth quarter, though not enough for the Elon Musk-led company to stay in front of China’s BYD Co. Ltd. in global electric-car sales.

Tesla delivered more than 484,507 cars in the last three months, beating analysts’ average estimate for 483,173. BYD sold 526,409 fully electric vehicles in the quarter to become the new No. 1 in EVs, driven mainly by its much broader line-up of cheaper models in China.