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Story summary
- Tesla's European sales decreased by 34% year-to-date through July, with a 40% drop in July to 8,837 vehicles.
- BYD's sales surged 225% in July, reaching 13,503 vehicles and reducing Tesla's market share from 11% to 5%.
- Competition from Chinese automakers, including SAIC Motor, further impacted Tesla's sales in July.
- Overall EV sales in Europe increased by 34%, with electrified vehicles making up nearly 60% of new registrations.
- BYD aims to sell half its vehicles outside China by 2030 and is investing in logistics with a cargo ship fleet.
