Tesla faces a number of challenges in Europe including continued intense competition and brand damage from Elon Musk's political involvement.

KEY POINTS

New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.

BYD recorded 13,503 new registrations in July, up 225% annually.

Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand.

  • boonhet@sopuli.xyzEnglish
    1·
    10 hours ago

    BYD’s biggest advantage is the government subsidies it gets from China. In the EU, they get tariffed to protect local automotive companies from unfair competition (I.e nation-state supported automotive companies that can literally sell their cars at a loss). Thus, BYD loses its appeal.