Tesla sales plunge 40% in Europe as Chinese EV rival BYD's triple
Tesla sales plunge 40% in Europe as Chinese EV rival BYD's triple
www.cnbc.com
Tesla sales plunge 40% in Europe as Chinese EV rival BYD's triple
Tesla faces a number of challenges in Europe including continued intense competition and brand damage from Elon Musk's political involvement.
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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.