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Investing.com -- Chinese electric vehicle maker BYD sold three times as many new cars in the European Union last month compared to August 2024, surpassing Tesla for the second consecutive month, according to data released Thursday by European auto lobby ACEA.
BYD’s sales grew by 201.3% year-on-year, giving it a 1.3% market share in the EU. Meanwhile, Tesla’s EU sales dropped 36.6%, reducing its market share to 1.2% from 2% a year ago.
The overall European car market showed positive momentum in August, with sales in the European Union, Britain, and the European Free Trade Association rising 4.7% to 0.8 million vehicles.
Stellantis returned to sales growth in Europe for the first time since February 2024, with registrations up 2.2% compared to the same period last year. Other major automakers also posted gains, with Volkswagen seeing a 4.8% increase and Renault growing by 7.8% year-on-year.
Chinese automakers continued to make inroads in the European market. SAIC Motor, owner of the MG brand, recorded a 59.4% jump in August sales, taking its year-to-date market share to 1.9% and making it the tenth best-selling brand in the EU so far this year.
Total EU car sales rose 5.3% in August, with electrified vehicles driving much of the growth. Registrations of battery electric vehicles increased by 30.2%, hybrid electric vehicles by 54.5%, and plug-in hybrids by 14.1%. Together, these electrified vehicles accounted for 62.2% of all EU registrations, up from 52.8% in August 2024.
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