A new leader has emerged in the global electric vehicle market. In 2025, China's BYD officially surpassed Tesla in total sales, driven by a 28% year-on-year growth and a major expansion into international markets. While BYD eyes 1.6 million foreign sales for 2026, Tesla is facing its second consecutive year of decline, with sales dropping over 8%. Analysts point to a combination of political backlash against CEO Elon Musk and the expiration of key US EV tax credits in November 2025 as major factors in the American automaker's declining sales.
