Chinese electric vehicle manufacturers BYD and Chery have each increased their global sales by approximately 40% in 2024, with BYD posting a 42.5% year-over-year rise in battery electric vehicle sales in the second quarter, reaching 606,993 units compared to Tesla's 384,122 units, which represents a 13% decline. BYD's June sales alone hit 206,884 fully electric vehicles, contributing to a seven-figure total for the year so far. Tesla, the U.S. electric vehicle pioneer, is experiencing its first annual sales decline amid rising competition and shifting consumer preferences. Tesla's Q2 vehicle sales dropped by 13.5%, a downturn attributed in part to CEO Elon Musk's focus on autonomous vehicles and robotics, areas that currently do not generate the majority of the company's revenue. Additionally, Tesla's sales have been affected by Musk's political activities, which some analysts suggest have alienated customers. Globally, electric vehicle sales are accelerating, with countries like Norway reaching 97% EV sales penetration and China achieving 48% of new car sales as electric vehicles, totaling 11 million units sold in the first half of 2025.