Tesla Loses EV Crown to BYD After Second Annual Sales Drop

Tesla Inc. ceded the title of world’s top seller of electric cars to China’s BYD Co., squandering a lead the Elon Musk-led company built as it popularized plug-in vehicles over the past decade.

The US automaker reported a 16% decline in fourth quarter deliveries, trailing analyst estimates. For the year, Tesla sales slid almost 9%, its second consecutive annual drop.