"Tesla's sales in the UK experienced a significant downturn in May, indicating a loss of market share to competitors such as BYD amid rising economic challenges."
"The UK's overall car sales in May saw a modest increase, driven primarily by corporate fleet purchases, while Tesla struggled against increasing competition."
Tesla's sales in the UK plunged by 36% in May, with only 2,016 vehicles sold compared to the previous year. This decline reflects fierce competition from BYD, which saw a staggering increase in sales by 407%. The overall new car market in the UK experienced a slight growth of 1.6%, but remains 18.3% below pre-pandemic levels. Tesla's struggles are compounded by political backlash against CEO Elon Musk, rising competition from electric and hybrid models, and declining interest from private buyers. Corporate fleets were a key driver of rising registrations in the broader market.
Read at www.theguardian.com
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