BYD and other companies doubled their share of the car market after the European Union imposed higher tariffs on electric vehicles from China.
Drivers in the country, Europe’s largest car market, are avoiding vehicles from Tesla, which has seen a drop in sales in other countries as well.
Despite steep tariffs, the Chinese carmaker leapfrogged Tesla in April, in what an analyst called a “watershed moment” for the continent’s auto market.
Trump’s fixation on tariffs while he undermines America’s competitive strengths is hastening the onset of the “Chinese Century.”
Trump’s fixation on tariffs while he undermines America’s competitive strengths is hastening the onset of the “Chinese Century.”
The carmaker is expected to report a decline in quarterly earnings after Tesla’s brand suffered because of its chief executive’s role in the Trump administration.
Las inversiones y avances industriales de China están produciendo una oleada de exportaciones que amenaza con provocar cierres de fábricas y despidos en EE. UU. y el resto del mundo.
A staggering $1.9 trillion in extra industrial lending is fueling a continued flood of exports that could be spread even wider across the world by the Trump tariffs.
Los conductores chinos que alguna vez acudieron en masa a Tesla ahora se decantan por marcas locales que ofrecen coches más eficientes, con mejor tecnología y, a veces, a la mitad del precio.
Elon Musk, the company’s chief executive, is fast losing out to Chinese electric carmakers in Tesla’s second-most-important market.