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Tesla UK Sales Drop 37% Amid Rising Chinese EV Competition [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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This article first appeared on GuruFocus Tesla ( TSLA Financials ) reported a sharp decline in UK vehicle sales in February as competition from Chinese electric vehicle manufacturers intensified. Warning! GuruFocus has detected 8 Warning Signs with TSLA. Is TSLA fairly valued? Test your thesis with our free DCF calculator. Tesla UK registrations decreased 37% to 2,422 in February from 3,852 for the same month last year, according to SMMT data. The reduction comes as Chinese EV companies, especially BYD (BYDDF, Financials), grow in Europe. Although Tesla sold more vehicles than BYD in the UK in February, the Chinese carmaker saw great growth due to electric vehicle demand. Despite being below Tesla, BYD sales in the UK climbed 83% year over year, according to SMMT statistics. Despite Tesla's drop, UK automobile sales grew. As private retail demand improved, February new car registrations rose 7.2% to 90,100 units, the greatest February result since 2004. Tesla claimed mo
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