BYD Surpassed Tesla in the UK Electric Vehicle Market

The Chinese car manufacturer BYD Co Ltd-H (HK:1211) has rapidly gained a sales advantage against Tesla Inc (NASDAQ:TSLA) in the UK, one of Europe's largest electric vehicle markets.

According to data released by the UK's automotive trade group on Wednesday, BYD registered nearly seven times more new vehicles than Tesla in October. This indicates a significant increase in the company's presence in the British market. Year-to-date registered sales have surged by over 600%, reaching 39,103 vehicles.

On the other hand, Tesla has experienced a decline in its performance in the UK, with sales dropping by 4.5% this year to 35,455 units. These figures not only highlight BYD's rapid expansion in the European electric vehicle market but also showcase the company's ability to compete with Elon Musk's firm.