The United States (U.S.) electric car manufacturer Tesla recorded in July its seventh consecutive month of decline in sales of its vehicles in Europe, while the Chinese rival BYD continues its aggressive expansion on the Old Continent, according to published data of the European Automobile Manufacturers Association (ACEA).
According to official statistics, in July, 8.837 new Tesla vehicles were registered in Europe, 40 percent less compared to the same period last year. In contrast, BYD had 13.503 new registrations, which represents annual growth of as much as 225 percent.
Total sales of electric cars in Europe are rising, which indicates that Tesla is losing share in this market.
The company Tesla is facing a series of business challenges, such as fierce competition, but it is also troubled by problems with its reputation due to public appearances and political activities of its owner, Elon Musk.
Tesla plans to start production of a more affordable electric model in the second half of the year and thereby improve sales, but Chinese brands are already now taking a record market share in Europe that exceeds five percent, according to data from the agency JATO Dynamics.
In July, an annual decline in car sales in Europe was also recorded by Stellantis, South Korean Hyundai, as well as Japanese companies Toyota and Suzuki.
In contrast, sales growth was recorded by German Volkswagen and BMW, as well as French Renault, which suggests the strengthening of European brands.
