BYD Beats Tesla In Europe

Benzinga

Chinese automakers hit a record share of Europe’s EV market as brands like BYD, Leapmotor, and Chery accelerated expansion, while Tesla reported weaker U.S. sales, according to Benzinga and Bloomberg.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Chinese automakers captured a record share of the European electric vehicle market in November

00:07as expansion across the region accelerated, according to Benzinga.

00:12Automakers from China reached a 12.8% market share, according to Bloomberg, citing DataForce data.

00:20Brands leading the push include BYD, Stellantis-backed Leap Motor, and Sherry Automobile.

00:26Chinese-made hybrid vehicles exceeded 13% share across the EU, EFTA countries, and the UK.

00:34BYD reported nearly 222% sales growth in Europe during November,

00:38while Tesla reported a 23% decline in U.S. sales during the same month.

00:43BYD reported nearly 222% sales growth in Europe during November,

00:48while Tesla reported a 23% decline in U.S. sales over the same period.

00:52Chinese vehicle exports rose more than 87%,

00:57with 199,836 vehicles exported in December.

01:02Xpeng is also expanding into several European markets.

01:05For all things money, visit Benzinga.com.

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