Etiqueta: Germany

BYD's Strategic Investment in iCar Group: A Win-Win for EV Ecosystem Expansion and Cross-Border Synergy

Chinese electric vehicle (EV) manufacturer BYD has experienced a decline in quarterly profits, amid a price war clampdown.

Year-to-date, 1,011,903 new battery-electric cars were registered, capturing 15.6% of the EU market share,  an increase from the low baseline of 12.5% in July 2024.

BYD's Surging Global Momentum: A Contrarian Opportunity as Earnings Loom

EVs and hybrids gain traction, but China's BYD edges out Tesla for market share

Europeans are pissed at Tesla and BYD is eating its lunch.

Tesla's troubles across the pond in Europe are worsening. Per the European Automobile Manufacturers' Association, Tesla EV registrations (a proxy for sales) in Europe fell to just 8,837 units in July, a 40.2% drop compared to a year ago. Meanwhile, overall EV registrations in the region, which includes the UK and the European Free Trade Association, rose 33.6% in July, with overall registrations up 5.9%.

Tesla sales plunged again in Europe in July as car buyers continued their migration to Chinese rival BYD.

The electric carmaker sold 40 per cent fewer cars year on year in July in Europe, the UK and Scandinavia

The slowdown comes despite strong growth in Europe’s EV market, where battery-electric registrations jumped 24% this year.