BYD outsells Tesla in Europe in July, WSJ reports

In July, BYD (BYDDF) sold more cars in Europe than Tesla (TSLA) once again, a sign Tesla continues to face stiff competition from its Chinese rival as it expands aggressively in the continent, The Wall Street Journal’s Mauro Orru reports. New-car registrations for BYD models, a reflection of sales, more than tripled on year to 9,698 vehicles across the EU in July, according to the European Automobile Manufacturers’ Association, an industry body also known as ACEA. When including the U.K., Iceland, Liechtenstein, Norway and Switzerland, sales more than tripled to 13,503 vehicles. In contrast, registrations for Tesla models in the EU contracted more than 42% to 6,600 cars, extending a streak of disappointing EU monthly sales for the company this year. December marked the last month when Tesla logged higher sales in the EU, with 5.9% growth.