\n<\/p>\n
This article first appeared on GuruFocus<\/a>.<\/p>\n European car sales finally caught a break in July<\/a>. New data shows registrations jumped nearly 6% across the region the biggest monthly rise in more than a year offering a bit of breathing room to an industry that’s been under pressure from rising costs, regulatory demands, and shaky consumer sentiment.<\/p>\n Plug-in hybrid and battery-electric vehicles were the real drivers of momentum. Germany led the way after launching new EV incentives, with electric car sales up 58% and plug-in hybrids soaring nearly 84% compared to last year.<\/p>\n But the surprise twist? Tesla (TSLA<\/a>, Financials<\/a>) lost more ground marking the seventh straight month its market share shrank in Europe. It now sits at just 0.8%, down from 1.4% last July. Meanwhile, China’s BYD showed up in the monthly figures for the first time and already edged past Tesla, claiming 1.2% of the market.<\/p>\n In raw numbers, BYD’s sales exploded 225% year over year. Tesla’s dropped 40%.<\/p>\n The European Automobile Manufacturers Association (ACEA) said a total of 1.09 million vehicles were registered in the EU, the UK, and the European Free Trade Association region. Battery electric, hybrid electric, and plug-in hybrid vehicles combined made up nearly 60% of new registrations a big jump from 51% a year ago.<\/p>\n Volkswagen and Renault posted gains of 11.6% and 8.8%, respectively, while Stellantis saw a 1.1% dip.<\/p>\n Country by country, Germany was the standout with an 11.1% rise in total sales. The UK, France, and Italy all slipped into negative territory. But smaller markets picked up the slack Spain rose 17%, Poland 16.5%, and Austria surged more than 31%.<\/p>\n Still, industry executives are sounding the alarm. ACEA’s CEO Ola Kaellenius co-signed a letter this week urging the European Commission to ease up on 2035 zero-emission targets, calling them increasingly unfeasible.<\/p>\n For now, July’s results offer a rare bright spot. But the race for EV dominance and the battle between Tesla and BYD is just getting started.<\/p>\n<\/p><\/div>\nSwitch Auto Insurance and Save Today! <\/h2>\n