BYD surpassed Tesla as the world’s largest EV seller last year, marking Tesla’s first loss of the top position. The Chinese automaker unveiled 11 new models spanning sedans, SUVs and crossovers, signaling an aggressive expansion of its lineup and heightened competitive pressure on Tesla’s existing range.

Crude oil climbed above $100 per barrel, driving US average gasoline prices to $3.70 per gallon and $5.51 in California. Elevated fuel costs typically encourage consumers to switch to electric vehicles, potentially increasing Tesla’s sales momentum in key markets.