business

Rani Molla8/28/25

BYD keeps outselling Tesla in Europe

BYD sold nearly 50% more vehicles in the European Union than Tesla did last month, according to new data from the European Automobile Manufacturers’ Association (ACEA), moving about 9,700 units versus Tesla’s 6,600 in July. Earlier country-specific data hadn’t been looking good for the American EV company.

While BYD, a Chinese company that sells both EVs and plug-in hybrids, outsold Tesla in Europe for the first time in April, Tesla’s January through July sales have outpaced BYD’s by nearly 20,000.

BYD Executive Vice President Stella Li has credited her company’s success to its wide variety of offerings relative to Tesla. Tesla, on the other hand, recently halted new orders of two of its four models available in Europe.

In Tesla’s defense, CEO Elon Musk said on the company’s last earnings call, “It’s worth noting that we do not actually yet have approval for supervised FSD [full self-driving] in Europe. So our sales in Europe, we think, will improve significantly once we are able to give customers the same experience that they have in the US.”

More Business

See all Business

Stitch Fix CEO lays out his three-phase plan to rebuild using AI and human connection

The online personal styling company is betting on relationships and a redefined client experience to jumpstart growth.

Stitch Fix CEO Matt Baer

J. Edward Moreno2h

Lay’s bets on “real potatoes” as Americans turn away from fresh ones

PepsiCo’s internal research showed that 42% of consumers didn’t know Lay’s chips are made with real potatoes.

Lays

Chris Stokel-Walker10/10/25

business

Max Knoblauch10/10/25

Ford joins GM in backing off of its EV tax credit extension plan following GOP criticism

Ford, despite benefiting from an electric sales surge in recent months, is giving up on a clever accounting plan to extend the expired $7,500 EV tax credit to some of its customers.

Like its rival GM earlier this week, Ford on Thursday night confirmed to Reuters that it will not claim the tax credit, backing off from its short-lived leasing strategy.

The automakers’ plan was to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots in late September. Those transactions would qualify for the credit, and Ford and GM could pass the discount on to customers through leases.

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Exclusive: Ford reverses plan to claim EV tax credits, following GM

Exclusive: Ford reverses plan to claim EV tax credits, following GM

The automakers’ plan was to extend the subsidy by using their financial arms to put down payments on electric vehicles already on their dealers’ lots in late September. Those transactions would qualify for the credit, and Ford and GM could pass the discount on to customers through leases.

But the strategy angered GOP senators, who last week wrote a letter to Treasury Secretary Scott Bessent accusing the automakers of “bilking” taxpayers.

Ford CEO Jim Farley last month said he expects the end of the tax credit to cut EV sales in half.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.

©2025 Sherwood Media, LLC