Investing.com — Chinese automaker BYD Co Ltd-H (HK:1211) has established a growing sales advantage over Tesla Inc (NASDAQ:TSLA) in the UK, one of Europe’s largest markets for electric vehicles.
According to data released Wednesday by the U.K.’s automotive trade group, BYD registered nearly seven times more new cars than Tesla in October.
The Chinese manufacturer has dramatically increased its presence in the British market, with year-to-date sales surging more than sixfold to 39,103 vehicles.
Meanwhile, Tesla has experienced a decline in its UK performance, with sales dropping 4.5% so far this year to 35,455 units.
The figures highlight BYD’s rapid expansion in the competitive European electric vehicle market, where it now outsells Elon Musk’s company in one of the region’s key EV markets.
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