Day: 23 May 2025

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BYD Surpasses Tesla in European EV sales for the first time in upset for Tesla

BYD

April 2025 marked a watershed moment in the European electric vehicle (EV) market as BYD outsold Tesla for the first time ever.

According to JATO Dynamics, BYD registered 7,231 battery-electric vehicles, narrowly surpassing Tesla’s 7,165 registrations.

This shift comes despite EU-imposed tariffs on Chinese-made EVs, which were expected to hinder BYD’s growth. However, the company’s aggressive expansion strategy and diversified lineup – including plug-in hybrids – helped it navigate trade barriers and maintain momentum.

Tesla, on the other hand, has faced declining sales, with its European registrations dropping 49% year-over-year. Production delays, protests against CEO Elon Musk, and consumer hesitation over new Model Y trims have contributed to the slump.

BYD’s success signals a changing landscape in Europe’s EV market. With its Hungarian production plant set to open soon, the company is poised for further growth.

Presumably now, Tesla must reassess its strategy to regain dominance in a market it once ruled.

As competition intensifies, European consumers will benefit from greater EV choices, potentially driving further innovation in the industry

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Japan’s core inflation rises to 3.5% – higher than expected

Japan economic data

Japan’s inflation figures for April 2025 have revealed a continued rise in consumer prices, with the Consumer Price Index (CPI) climbing 3.6% year-on-year.

This marks a sustained period of inflation above the Bank of Japan’s (BoJ) target of 2%, prompting speculation about potential interest rate hikes later in the year.

Core inflation, which excludes fresh food, rose 3.5% YoY, exceeding market expectations. A major driver of this surge has been food prices, particularly rice, which has soared by an astonishing 98% compared to last year.

The sharp increase has led the government to release emergency stockpiles to stabilise the market.

The BoJ faces a delicate balancing act. While inflation remains strong, economic uncertainty – partly fueled by U.S. tariffs, could complicate monetary policy decisions. The central bank has already raised rates in recent months but has paused further hikes to assess the broader economic impact.

With inflationary pressures persisting, analysts predict that the BoJ may tighten policy again by October 2025.

Concerns over global trade and domestic economic stability could influence the timing of any further rate adjustments.

The core inflation increase of 3.5% was far higher than expected.