Tesla's sales in China rose 8.8% in 2024, reaching 657,000 vehicles, peaking in December. Despite this, Tesla reported a 1.1% global sales decline, missing CEO Elon Musk's growth forecast. Tesla's shares dropped 6% on January 2. The company's record sales in China occurred amid an ongoing EV price war, with Tesla offering discounts and zero-interest financing. Competition from BYD, which exceeded its sales targets, further intensifies pressure. n18oc_crux
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