Khaberni - Data from the Association of European Automobile Manufacturers showed today that "BYD" Chinese electric vehicle manufacturer sold last month three times the number of new vehicles in the European Union compared to August 2024, thus surpassing its American competitor Tesla for the second consecutive month.
The Stellantis group has returned to sales growth in Europe for the first time in more than a year, as the market expanded overall with increased sales of plug-in hybrid vehicles and battery-operated electric vehicles.
Challenges
The weary European automotive industry faces challenges including U.S. import tariffs, competition from China, and difficulties complying with local regulatory rules for electric car adoption while maintaining profitability.
Car manufacturers increased sales of plug-in hybrid vehicles to comply with emission standards, providing more profitable and affordable cars compared to purely electric vehicles.
Chinese brands also used this technology to lessen the impact of customs duties imposed by the European Union on electric vehicles made in China.
Tesla's sales in the European Union dropped by 36.6% resulting in a market share decline from 2% to 1.2% over the past year.
BYD's vehicle sales jumped by 201.3% to capture 1.3% of the market.
