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European new-vehicle registrations rose for a third straight month in April, up 7% to 1.15 million, according to the European Automobile Manufacturers’ Association. EV deliveries increased 38%, aided by lower-priced models from Volkswagen, Stellantis and Chinese brands such as BYD. Tesla sales rose 47% in April. Germany’s EV subsidy lifted sales 41%.
CNBC says China’s auto industry is expanding through technology and exports, with BYD overtaking Tesla in Q4 2023 as the top EV maker. BYD exported 240,000+ cars to 70 countries in 2023. Tesla’s Elon Musk warned Chinese rivals could “demolish” others. CNBC also cites Biden’s May 2024 EV tariffs and analyst views that some automakers may exit China.
Europe’s new-vehicle registrations rose for a third straight month in April, increasing 7% to 1.15 million vehicles, according to the European Automobile Manufacturers’ Association. EV deliveries climbed 38% regionwide, supported by cheaper models from Volkswagen, Stellantis and Chinese brands such as BYD. Germany’s EV sales rose 41% after a new subsidy; Tesla sales increased 47%.
