Tesla Inc. (TSLA) just posted its best month ever in China, which is remarkable timing considering the company's global delivery numbers looked pretty rough. According to data shared by influencer Roland Pircher on X, Tesla moved 93,843 vehicles in China during December, representing a solid 13.2% jump compared to December 2023 and an even more impressive 31.2% increase from the previous quarter.

Pircher's analysis included historical data stretching back to October 2020, and December 2024 stands out as Tesla's single best sales month in the Chinese market. That's meaningful because China isn't just any market for electric vehicles—it's the biggest and most competitive EV battleground in the world.

The Global Picture Wasn't Nearly as Pretty

Here's where things get complicated. While China was celebrating, Tesla's overall fourth-quarter delivery numbers disappointed analysts. The company delivered 418,227 units globally, down 16% year-over-year and well below the 445,000-unit consensus that analysts had penciled in. Investor Gary Black of Future Fund LLC noted that Tesla's decision to release delivery data earlier than usual seemed out of character for the automaker, though fellow investor Gene Munster apparently saw the numbers coming.

The contrast is striking: record-breaking performance in one of your most important markets while missing global targets. It raises questions about what's happening in Tesla's other regions and whether the China strength can offset weakness elsewhere.

Meanwhile, BYD Takes the Crown

The competitive landscape shifted dramatically as BYD Co. Ltd. (BYDDY) (BYDDF) overtook Elon Musk's company to become the world's largest EV manufacturer. BYD has been consistently reporting strong sales growth in overseas markets, particularly in Europe, where Chinese automakers are making significant inroads.

But the story isn't one-sided. While BYD is crushing it internationally, the company is actually facing domestic sales declines in China—the same market where Tesla just posted record numbers. It's an interesting reversal that shows how complex and segmented the global EV market has become.

There's another data point worth noting: exports from Chinese automakers to overseas markets surged 87%. That's not just BYD—it's a broader trend of Chinese EV manufacturers expanding their global footprint aggressively.

Price Action: TSLA shares gained 0.24% in pre-market trading and were trading at $436.84 per share, according to market data.