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August 28, 2025

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Tesla sales in Europe fall 40% as BYD registrations surge 225%

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Tesla’s presence in the European electric vehicle market weakened further in July, with sales declining for the seventh consecutive month.

According to new data released by the European Automobile Manufacturers Association (ACEA), Tesla recorded a 40% year-on-year drop in new registrations, while Chinese rival BYD achieved a sharp increase.

The figures reflect growing competition in Europe’s electric vehicle segment, where Chinese carmakers are steadily expanding their market share and offering vehicles at competitive prices.

Tesla registrations fall, BYD climbs rapidly

Tesla registered 8,837 new vehicles across Europe in July, representing a steep decline compared with the same period in 2024.

The ACEA data showed that this slump came despite overall growth in the region’s battery electric vehicle sales.

At the same time, BYD reported 13,503 new car registrations in Europe during July, marking a 225% annual increase.

The Chinese manufacturer has been expanding aggressively across the continent, opening showrooms and launching models in several key markets.

This expansion has allowed BYD to rapidly capture more customers, making it a strong challenger in Europe’s growing electric vehicle industry.

Competitive pressures reshape Europe’s EV market

Tesla’s fall in sales comes as the automaker faces several challenges.

These include a lack of major refreshes to its vehicle line-up and increasing concerns about the brand’s reputation linked to Elon Musk’s outspoken presence and political associations in the US.

The company has acknowledged the need to diversify its offerings, with plans to introduce a more affordable electric vehicle.

Tesla has said volume production for this model is scheduled for the second half of 2025.

Analysts have noted that new launches will be crucial for Tesla, as its current vehicle line-up is ageing compared to competitors, and models such as the Cybertruck have not delivered the expected results.

Meanwhile, Chinese brands are scaling their presence at speed.

Data from JATO Dynamics revealed that Chinese automakers secured more than 5% of the European market share in the first half of 2024, a record high.

BYD has been a leading contributor to this surge, but other Chinese manufacturers are also moving quickly to introduce competitive vehicles and strengthen their foothold in the region.

Broader auto market impact

The competitive pressure from China is not limited to Tesla.

Other manufacturers, including Stellantis (owner of Jeep), South Korea’s Hyundai Group, and Japanese carmakers Toyota and Suzuki, also posted year-on-year declines in July registrations.

In contrast, some European firms managed to record gains during the same month.

Volkswagen, BMW, and Renault Group all reported growth in new car registrations across Europe, showing resilience in the face of rising competition.

Globally, Tesla has also seen signs of strain.

The company’s automotive revenue fell in the second quarter of the year, and Elon Musk has indicated that the business may experience “a few rough quarters” ahead.

Tesla has increasingly highlighted its work in artificial intelligence, robotics, and autonomous driving, but analysts have warned that investors remain concerned about the company’s slowing car sales.

The data underscores how Europe’s electric vehicle sector is becoming one of the most competitive markets in the world.

With Chinese brands like BYD expanding rapidly, and established European automakers strengthening their own positions, Tesla faces mounting pressure to reverse its sales decline and adapt to the changing landscape.

The post Tesla sales in Europe fall 40% as BYD registrations surge 225% appeared first on Invezz

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In Business

Frontier Airlines goes after struggling rival Spirit’s customers with 20 new routes

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Frontier Airlines is going after customers of Spirit Airlines, whose financial footing has gotten so shaky in recent weeks that it warned earlier this month it might not be able to survive another year without more cash.

Frontier on Tuesday announced 20 routes it plans to start this winter, many of them in major Spirit markets like its base at Fort Lauderdale International Airport in Florida. Frontier overlaps with Spirit on 35% of its capacity, more than any other airline, according to a Monday note from Deutsche Bank airline analyst Michael Linenberg.

Some of Frontier’s new routes from Fort Lauderdale include flights to Detroit, Houston, Chicago and Charlotte, North Carolina. It’s also rolling out routes from Houston to New Orleans; San Pedro Sula, Honduras; and Guatemala City.

Frontier had tried and failed to merge with its budget airline rival several times since 2022.

“I’m not here to talk about M&A,” Frontier CEO Barry Biffle said in an interview with CNBC on Tuesday when asked whether Frontier would buy Spirit. Biffle said he expects that Frontier would pick up the majority of Spirit’s market share if Spirit collapsed.

Both carriers have struggled from changing customer tastes for more upmarket seats and trips abroad, an oversupply of domestic capacity, and higher labor and other costs. Spirit’s situation has become more dire however, after it emerged from four months of bankruptcy protection in March facing many of the same problems.

Ultra-low-cost airlines are also challenged by larger rivals like United Airlines, American Airline and Delta Air Lines that have rolled out their own no-frills basic economy tickets but also offer customers bigger choices of destinations and other perks onboard like snacks and beverages.

Stock prices of rival airlines surged after Spirit’s warning earlier this month.

Biffle said the carrier wants to become the country’s largest budget airline and has rolled out loyalty matching programs to grab more customers. Frontier’s capacity was slightly smaller than Spirit’s in the second quarter, through the latter had slashed its flying by nearly 24% from a year earlier, while Frontier was down only 2%.

Spirit last week said it drew down the entire $275 million of its revolver and while it reached a two-year extension on its credit card processing agreement with U.S. Bank N.A., it agreed that it would hold back up to $3 million a day from the carrier.

The airline lost $245.8 million in the second quarter. Frontier lost $70 million.

Spirit has been looking for ways to slash costs, including furloughing and demoting hundreds more pilots and cutting unprofitable routes. Hundreds of flight attendants are on unpaid leaves of absence.

Spirit CEO Dave Davis said in an Aug. 12 staff memo after its “going concern” warning that “the team and I are confident that we can build a Spirit that will continue to provide consumers the unmatched value that they have come to expect for many years to come.”

The carrier reached a deal with bondholders who agreed to convert debt to equity in its Chapter 11 bankruptcy, but it didn’t cut other costs like renegotiating aircraft leases. Leasing firms have been reaching out to rivals in recent weeks to gauge whether competitors would take any of the Airbus planes that are in Spirit’s hands, according to people familiar with the matter, who asked to speak anonymously because the talks were private.

— CNBC’s Phil LeBeau contributed to this report.

This post appeared first on NBC NEWS

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In Politics

Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

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Microsoft co-founder Bill Gates went to the White House on Tuesday for a meeting with the president, according to a Gates spokesperson.

In a statement obtained by Fox News Digital, the spokesperson noted, ‘Bill met with the president to discuss the importance of U.S. global health programs and health research that is necessary to save lives, protect Americans’ health, and preserve U.S. leadership in the world.’

Fox News Digital reached out to the White House for comment on Wednesday.

Prior to the president’s inauguration for his second term, Wall Street Journal Editor-in-Chief Emma Tucker asked the mega-wealthy figure whether he had met with Trump since Trump’s victory in the 2024 presidential contest. 

Gates said that they had a ‘quite intriguing dinner,’ noting that it lasted more than three hours. 

An individual who Gates explained ‘helps manage things for me’ was also present, as well as Susie Wiles, Gates added.

This post appeared first on FOX NEWS

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