Tesla slips as BYD outsells Tesla in Europe again

Chinese EV maker BYD outsold Tesla in the European Union again in August, according to new data from the European Automobile Manufacturers’ Association (ACEA).

Tesla’s stock is down nearly 3% today amid a broader sell-off of some tech-focused stocks, while BYD’s ADRs are up more than 2%.

BYD sold 9,130 vehicles last month versus Tesla’s 8,220, a feat BYD’s leadership has said it’s pulling off thanks to its wider array of offerings. Others have blamed Tesla’s declining sales in the region on CEO Elon Musk’s forays into European politics causing brand damage.

Tesla’s year-to-date sales have shrunk 43% in the EU compared with the same period last year, while BYD’s year-to-date sales grew 244%.

BYD began outselling Tesla in the region this April, but Tesla still has higher sales for the year, by nearly 20,000 units.

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