Tag: BYD

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Tesla’s European market meltdown – sales plunge 49% amid brand damage and fierce competition

Tesla's European sales fall!

Tesla’s vehicle sales in Europe plummeted by 49% in April 2025, marking the fourth consecutive month of decline.

Despite an overall 27.8% rise in battery-electric vehicle sales, Tesla struggled to maintain its foothold in the region.

The drop in sales has been attributed to increasing competition from Chinese automakers, a shift in consumer preferences towards hybrid vehicles, and growing backlash against CEO Elon Musk’s political affiliations.

Tesla’s market share in Europe nearly halved, falling from 1.3% to 0.7%. The company’s aging lineup, particularly the Model Y, has failed to attract new buyers, while rivals such as BYD have overtaken Tesla in European EV sales for the first time.

Additionally, European carmakers are cutting costs and adapting to U.S. tariffs on auto imports, further intensifying competition. Chinese EV manufacturers are also cutting EV prices.

While Tesla faces challenges in Europe, the broader EV market continues to expand, driven by government incentives and stricter emission targets.

However, unless Tesla refreshes its lineup and rebuilds consumer trust, its dominance in the European market may continue to erode.

The company’s future remains uncertain as it navigates political controversies and shifting market dynamics

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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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BYD unveils new super-charging EV tech – twice as fast as the Tesla system

BYD

BYD, a leading name in the electric vehicle (EV) industry, has unveiled groundbreaking super-charging technology that could redefine EV adoption

The new ‘super e-platform’ boasts peak charging speeds of 1,000 kilowatts (kW), enabling vehicles to gain a range of 400 kilometers (249 miles) in just five minutes.

This innovation brings EV charging times closer to the convenience of refueling traditional gasoline vehicles.

Charging speeds of 1,000 kW would be twice as fast as Tesla’s superchargers whose latest version offers up to 500 kw charging speeds. Fast-charging technology has been key to increasing EV adoption as it is seen to help assure EV drivers’ concerns over being able to charge their cars quickly.

The announcement, reportedly made at BYD’s Shenzhen headquarters, marks a significant leap in addressing ‘charging anxiety’- a key concern for EV users. Founder Wang Chuanfu emphasised the company’s commitment to making EV charging as quick and seamless as possible.

This is the first time the industry has achieved megawatt-level charging power, setting a new benchmark.

To complement this technology, BYD plans to build over 4,000 ultra-fast charging stations across China.

The initial rollout will feature the super e-platform in two new models: the Han L sedan and Tang L SUV, priced from 270,000 yuan ($37,328). These vehicles will pioneer the use of this cutting-edge charging system.

As competition in the EV market intensifies, BYD’s innovation positions it as a formidable player, challenging established giants like Tesla and paving the way for a more electrified future.

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Musk is everywhere!

Elon Musk

Elon Musk is the world’s richest person and the leader of Tesla, SpaceX, X, The Boring Company, x.AI, and Neuralink.

He is also the co-founder of PayPal and Zip2 and now the co-leader of DOGE – of U.S. Department of Government Efficiency and also recently led a group of investors in a bid to acquire OpenAI.

From a business perspective, Musk’s achievements are undeniable and even astonishing. The companies he leads are not only market leaders but also pioneers in their respective fields – consider how Tesla initiated the electric vehicle industry or how SpaceX successfully commercialised spaceflight.

Paradoxically, achieving success on a broad scale can have adverse effects. Investors appear to be increasingly concerned that Musk, despite his business acumen, is becoming distracted.

Tesla shares have declined over the past five trading days, dropping more than 6% on Tuesday 11th February 2025 as Chinese competitor BYD seems to be surpassing the company in AI-enabled autonomous driving.

If hands-free driving becomes a reality at Tesla, it could allow Musk to engage in other ventures without negatively impacting the company’s shares.

What you need to know today

BYD is a Tesla threat – but this is Elon Musk we’re talking about

Tesla shares fell 6.3% Tuesday 11th February 2025 after Chinese EV maker BYD said it will integrate DeepSeek into its autonomous driving technology and offer it in nearly all its vehicles.

There are also concerns over Musk’s distractions, such as his bid for OpenAI and his role at the ‘DOGE’ – Department of Government Efficiency in the White House.

Tesla’s stock price has fallen over 16% in the past five trading days

Tesla’s stock price has fallen over 16% in the past five trading days (5-day chart as of 11th February 2025)
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BYD shares hit record as the EV maker rolls out advanced driver tech with DeepSeek’s AI assistance

BYD with DeepSeek AI (fictitious image)

Shares of BYD, the Chinese electric vehicle (EV) giant, surged to a record high on Tuesday 11th February 2025, following the announcement of its new driver assistance technology.

The company revealed its latest ‘DiPilot’ assisted driving system, which integrates artificial intelligence (AI) from Chinese startup DeepSeek.

This move is expected to significantly enhance the driving experience and safety features of BYD’s vehicles.

BYD’s founder and chairman, Wang Chuanfu, announced the launch of the DiPilot system at a livestreamed event, emphasizing that advanced smart driving will become a standard safety feature, akin to seatbelts and airbags (time will tell on that statement).

The system includes features such as remote parking and autonomous highway navigation. These features reportedly are being integrated into over 20 models. Budget-friendly options priced below 70,000 yuan ($9,555) will also have the system.

DeepSeek AI integration

The integration of DeepSeek’s AI technology is a game-changer for BYD. DeepSeek, known for its innovative chatbot that rivals U.S. competitors such as OpenAI and others brings high-quality AI capabilities to BYD’s autonomous driving systems.

This partnership allows BYD to offer advanced intelligent features at a competitive price, putting it ahead of its rivals in the fiercely competitive Chinese EV market.

Analysts have praised BYD’s strategic shift from price-cutting to upgrading vehicle functions and have noted that BYD is now dictating the pace of technological features in the market.

The company’s stock rose by 4.5% to a record high in Hong Kong, reflecting investor optimism about the new technology.

BYD’s move to integrate advanced driver assistance systems into budget models is expected to intensify the EV price war. The company’s aggressive pricing strategy, combined with cutting-edge technology, positions it well to capture a larger market share.

With more than 20 models featuring the new driver assistance tech, BYD is set to lead the way in smart vehicle innovation.

As BYD continues to expand its presence globally, the integration of DeepSeek’s AI technology marks a significant milestone in the company’s journey towards becoming a leader in the EV industry.

The future looks promising for BYD as it continues to innovate and push the boundaries of automotive technology.

One Year BYD charts as of 11th February 2025

One Year BYD charts as of 11th February 2025

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China’s electric vehicle boom is becoming increasingly focused on hybrids

Hybrid vehicle

Hybrid-powered vehicles are becoming more popular than battery-only ones in China, according to latest full-year reports, even as consumers move away from fossil-fuel-only cars.

Market leader BYD reported that well over half of the 4.3 million passenger cars it sold in 2024 were hybrid-powered, marking a significant reversal from 2023.

Chinese electric car start-ups that have exclusively sold battery-powered vehicles generally delivered fewer cars in 2024 compared companies that also offered hybrid models.

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Tesla misses delivery estimates – stock drops

Tesla EV

Tesla posted its third-quarter vehicle production and deliveries report on Wednesday 2nd October 2024 – the stock fell 3.7%.

Total deliveries Q3 2024: 462,890 – Total production Q3 2024: 469,796

Analysts had projected Tesla would deliver 463,310 vehicles by the end of September 2024. However, other sources indicated a larger shortfall; the average analyst predictions were at 469,828 vehicles, while an independent researcher known as ‘Troy Teslike,‘ popular among Tesla enthusiasts, estimated 472,000 deliveries for the quarter.

Comparatively, Tesla reported 435,059 deliveries and 430,488 EVs produced in the same period last year. In the previous quarter, the company achieved 443,956 deliveries and produced 410,831 vehicles.

In the U.S., competitors such as Rivian are advancing, and traditional automakers like Ford and General Motors are increasing their electric vehicle sales, albeit scaling back earlier electrification targets.

Ford announced a 12% increase in EV sales for the third quarter, totaling 23,509 vehicles on Wednesday 2nd October 2024.

General Motors reported a 60% rise in EV sales for the same quarter compared to the previous year, with 32,100 units sold, which represents 4.9% of its total sales volume.

Tesla’s reputation in the U.S. has faced challenges, partly due to CEO Elon Musk’s controversial actions, including endorsing former President Donald Trump and disseminating what has reportedly been described by the White House as ‘racist hate“, along with alleged misinformation about immigration and election fraud on X, his social media platform.

Despite these issues, Tesla remains the leading seller of battery electric vehicles in the U.S., with Hyundai trailing significantly behind.

Tesla -year chart as of 2nd October 2024

Tesla -year chart as of 2nd October 2024
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BYD sales hit record high in August 2024

BYD EV

In August 2024, Chinese electric car behemoth BYD set a new sales record for passenger vehicles, with hybrid models outpacing battery-only vehicles in growth.

Zeekr, supported by Geely, experienced a rise in deliveries to 18,015 for August, although this was a decrease from the 20206 deliveries reported in June 2024.

Li Auto, renowned for its range-extender vehicles, saw a decrease in deliveries to 48,122 in August, a drop from the July record of 51,000.

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Chinese auto sales overtake U.S. for the first time

EV competition

For the first time, automotive companies in China surpassed their U.S. counterparts in car sales last year, driven by BYD and expansion in emerging markets, according to a data released Thursday 13th July 2024.

Chinese brands such as BYD now at the forefront, reportedly sold 13.4 million new vehicles last year. In comparison, American brands sold approximately 11.9 million units. Japanese brands remained at the top with 23.59 million sales.

China’s sales growth rate surpassed that of the U.S., with a 23% rise from the previous year compared to the U.S.’s 9% increase.

The consistent high pricing by legacy automakers has inadvertently steered consumers towards more affordable Chinese alternatives.

No surprise here then as manufacturers milked profits from legacy lineups!

Tariffs have now been introduced on China to curb their automakers runaway success.

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The EU imposes higher tariffs of up to 38% on Chinese EVs

EU and EV's

In a significant development that may affect the electric vehicle (EV) market, the European Union (EU) has tentatively agreed to levy tariffs on Chinese EV manufacturers.

This decision reportedly follows an inquiry into the surge of inexpensive, government-subsidized Chinese vehicles entering the EU market.

From 4th July 2024, Chinese EV producers who participated in the investigation will incur an average duty of 21%, while those who did not will face a substantial 38.1% tariff. Specific rates will be imposed on firms such as BYD, Geely, and SAIC.

Additionally, non-Chinese automobile companies manufacturing some EVs in China, including those based in the EU like BMW, will also be impacted. Tesla might receive a specially calculated duty rate upon request.

These levies are on top of the current 10% tariff on all electric cars manufactured in China. The EU’s action comes after the United States’ drastic measure last month to increase its tariff on Chinese electric cars from 25% to 100%.

Some critics view this anti-subsidy probe as protectionist, potentially harming China-EU economic relations and the worldwide automotive production and supply chain. The German Transport Minister has reportedly cautioned about the possibility of a trade conflict with Beijing.

Although the tariffs are intended to shield the EU’s own industry, they highlight the challenges of maintaining a balance between free trade and competitiveness in the swiftly changing EV sector.

Unless a qualified majority of EU nations opposes it, the tariffs will become permanent in November 2024. The European car industry stresses the need for free and fair trade but recognizes that promoting the adoption of electric cars requires a diverse strategy.

As the dispute over tariffs persists, the repercussions for the EV market are yet to be determined.

One thing is for sure, the consumer will suffer through these tariffs and also through extra road tax levies yet to be introduced, especially in the UK.

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Chinese EV makers continue their BIG push into European markets

EV

This expansion occurs as the European Union investigates subsidies provided to Chinese electric vehicle manufacturers, a situation that may lead to the imposition of tariffs.

In May 2024 Nio opened a new EV showroom in Amsterdam, while Xpeng introduced its G9 and G6 sports utility vehicles in France.

Over the years, China’s electric vehicle industry has flourished due to the government’s incentives and support, raising concerns among politicians in Europe and the U.S.

Public marketing campaigns are unfolding against the backdrop of a European Commission investigation into subsidies provided to Chinese electric vehicle manufacturers. The outcome of this inquiry may result in EU tariffs being imposed on Chinese EV imports.

The United States has preempted such measures, with the Biden administration enacting a 100% tariff on Chinese EV imports.

Meanwhile, Chinese EV producers are intensifying their international expansion efforts, aiming to compete with Elon Musk’s Tesla on a global scale and secure an early advantage over traditional car manufacturers.

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BYD profits and sales fall

Electric vehicle

Chinese automotive giant BYD has experienced a decline in profits amid a slowdown in electric vehicle (EV) demand and a price war in the largest car market globally.

The company reported earnings of $630 million (£502 million) for the first quarter, a drop of over 47% from the previous quarter.

Competing with Elon Musk’s Tesla for the title of the world’s top EV seller, BYD recently fell behind as Tesla regained the lead earlier this month.

In the first quarter, BYD’s sales of battery-only vehicles fell to just over 300,000, a decrease from the last quarter of 2023’s record high of 526,000 units.

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Why are big name EV makers worried about a… ‘Seagull’

Small generic electric car

The EV named ‘Seagull’ sub $10,000 price tag. This vehicle will likely take-off!

Global automakers are becoming increasingly concerned that Chinese competitors, such as the Warren Buffett-endorsed BYD, might saturate their EV market with cheaper EVs, potentially undermining local production and reducing vehicle prices.

Concerns have been raised that this could damage national automotive industries, and balance sheets. However, it would undoubtedly benefit consumers by providing more affordable entry-level electric vehicles.

The BYD Seagull, an all-electric hatchback manufactured in China, is priced at only 69800 yuan (under $10,000) and is said to be profitable for the rapidly growing Chinese automaker.

There’s fear among global automakers that BYD and other Chinese rivals could flood their markets, undercutting domestic production and vehicle prices.

The Chinese are coming to a town near you – it’s just business.

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Tesla recalls two million cars in U.S. and faces head-on challenge by China’s BYD for world’s top electric car-maker

EV & hybrid sales up for BYD

Tesla recalled more than two million cars in December 2023 after the U.S. regulator found its driver assistance system, Autopilot, was partly defective, it was reported.

It follows a two-year investigation into crashes which occurred when the tech was in use. The recall applies to almost every Tesla sold in the U.S. since the Autopilot feature was launched in 2015.

The update happens automatically and does not require a visit to a dealership or garage but is still referred to by the U.S. regulator as a recall.

The UK Driver and Vehicle Standards Agency reportedly said it was not aware of any safety issues involving Teslas in the UK, noting that cars sold in the UK are not equipped with all of the same features as cars in the U.S.

Chinese company, Build Your Dreams (BYD), has moved another step closer to over-taking Tesla as the world’s biggest-selling manufacturer of electric vehicles.

The firm said on Monday it had sold a record 526,000 battery-only vehicles in the last three months of 2023, aided by more than a 70% surge in sales in December 2023.

Tesla is scheduled to release its latest quarterly vehicle production and delivery figures before Wall Street opens on Tuesday.

For the year, BYD said it had sold more than 3 million new energy vehicles (NEVs), which includes battery-only vehicles and hybrids. Almost 1.6 million of its total sales were battery-only vehicles, the firm said.

Industry analysts have forecast that Tesla sold around 483,000 electric vehicles in the last three months of 2023 and 1.82 million for the year as a whole.

Tesla 3 year share chart

Tesla 3 year chart
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Tesla earnings disappoint and Chinese EV stocks fall

Tesla

Shares of Chinese electric vehicle manufacturers took a hit on Thursday 18th October 2023 after Tesla reported disappointing 3Q results on Wednesday 17th October 2023.

It was the first time Tesla, co-founded by Elon Musk, missed on both earnings and revenue since Q2 2019.

On Thursday morning, Hong Kong-listed shares of Chinese EV makers BYD and Xpeng fell approximately 2.18% and 8.76%. Li Auto slid 3.14%, while Nio and Geely dropped 8.36% and 3.97%.

Elon Musk reportedly cautioned that the Tesla Cybertruck, the electric full-size pickup truck model; would not deliver substantial positive cashflow for 12-18 months after production begins.

Musk reportedly said the company is working to bring down the prices of its cars amid high interest rates. ‘I’m worried about the high interest rate environment we’re in,’ he said, adding that it will be much harder for consumers to purchase cars if interest rates were to increase further.

Tesla shares down

Tesla shares closed 4.78% lower on Wednesday 17th October 2023. Other U.S. EV rivals Lucid and Rivian fell more than 9% on the same day. Lucid’s stock dropped a day earlier after it reported disappointing Q3 EV deliveries.

Tesla shares closed 4.78% lower on Wednesday 17th October 2023.

In the first six months of the year, BYD was the world’s top EV manufacturer, contributing 21% of global sales of EVs, according to research firm Canalys. Tesla trailed behind at second place with 15% market share while German carmaker Volkswagen held 7% market share in third place.

Price pressure

EV players are under pressure from a price war to gain market share amid intense competition.

Tesla introduced a number of price cuts over the last few months, especially in China – the world’s biggest EV market.

Rivals BYD, Nio, Li Auto and Xpeng have also joined Tesla in lowering the prices for some of their EV models.

Shares in BYD, (Build Your Dreams), jumped this week after it said it expected third-quarter profits to more than double compared with last year.

BYD is now ahead of Tesla in quarterly production – and second to the U.S. car maker in global sales.