超越特斯拉，比亚迪成为全球最大电动车销售商

Core Viewpoint - Tesla's automotive sales declined by 8.6% last year, significantly trailing behind China's BYD in the global electric vehicle market, indicating a loss of the competitive edge Tesla had built over the past decade [1][2]. Group 1: Sales Performance - Tesla's fourth-quarter deliveries fell by 16% year-over-year to 418,227 vehicles, below the forecast of 440,907 vehicles [1]. - For the entire year, Tesla's sales dropped nearly 9%, marking the second consecutive year of annual decline [1]. - In contrast, BYD achieved nearly 2.26 million electric vehicle deliveries for the year, while Tesla delivered 1.64 million [2]. - BYD's growth in electric vehicle sales has widened the gap with Tesla, especially in the fourth quarter where BYD's pure electric vehicle deliveries surpassed Tesla's [2]. Group 2: Market Dynamics - Analysts on Wall Street have significantly downgraded their projections for Tesla's 2026 delivery numbers from over 3 million to approximately 1.8 million [3]. - The demand outlook for electric vehicles in the U.S., Tesla's largest market, is critical for the company's future success, especially after the cessation of federal incentives for plug-in vehicle purchases [3]. Group 3: Strategic Focus - Investors have shown less concern about Tesla's declining sales as Elon Musk shifts focus towards artificial intelligence, autonomous vehicles, and humanoid robots [4]. - Analysts suggest that Tesla's stock performance in 2026 will be driven more by advancements in AI and robotics rather than delivery numbers [5][6]. Group 4: Energy Storage Business - Tesla's energy storage business has seen significant growth, deploying 14.2 GWh of storage products in the last quarter, up from 11 GWh a year earlier, with an annual deployment increase of nearly 50% to 46.7 GWh [6]. - The growth in Tesla's energy storage reflects structural benefits driven by AI-related electricity demand, supporting additional storage needs for data centers and grid stability [6]. Group 5: Future Outlook - Elon Musk expressed confidence in Tesla's performance for the upcoming year, stating that 2026 will be an "epic year" for the company [7]. - Despite a recent drop in stock price, Tesla's shares rose by 1.5% in pre-market trading after a series of declines [7].