Latest news with #BYDs
Yahoo
2 hours ago
- Automotive
- Yahoo
Startline survey reveals Chinese car brands gain traction among UK motorists
More than seven out of ten UK motorists are open to purchasing vehicles from emerging Chinese car manufacturers, according to Startline's June Used Car Tracker. In the survey, 72% of respondents expressed willingness to consider Chinese cars. BYD emerged as the most recognised brand among potential buyers, with 28% awareness, followed by Maxus at 19% and Chery at 14%. Other brands such as Aiways, Denza, and Jaecoo each garnered 11% while Omoda and Xpeng stood at 10%. Nio, Skywell, and GWM Ora achieved 9%, with Leapmotor, Lynk & Co, HiPhi, and Zeekr trailing. Startline Motor Finance CEO Paul Burgess said: 'Chinese manufacturers are making a concerted assault on the UK market – almost 12,000 BYDs were sold here in the first four months of the year – and our research shows that consumers are receptive to the idea of buying a car from them.' Burgess further explained that differentiation is a challenge for these new entrants. Those investing in marketing and dealer networks are seeing increased consumer awareness, with BYD as a prime example. Despite this, 18% of respondents prefer established brands, 11% have quality concerns, and 7% wish to support British manufacturers. Additional concerns include parts availability and security, each noted by 4% of respondents, and dealer support, mentioned by 2%. Burgess stated that while a small group of car buyers exhibits some hesitation, significant concerns typically associated with the quality and support offered by new Chinese automakers are notably minimal. Compiled by APD Global Research, the Startline Used Car Tracker surveyed 301 consumers and 66 dealers, providing insights into consumer perceptions and market trends. Earlier this year, Startline Motor Finance secured a five-year credit facility worth £475m ($583m) from the US bank JP Morgan. Startline offers near-prime financing solutions to approximately half of the UK's top 50 franchised car dealers and 70% of the leading 50 independent automotive retailers, based on revenue. "Startline survey reveals Chinese car brands gain traction among UK motorists" was originally created and published by Motor Finance Online, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
The Advertiser
6 days ago
- Automotive
- The Advertiser
What's driving the dramatic drop in Tesla sales?
Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car." Sales of Teslas in Australia have dropped dramatically in the wake of the Trump-Musk bromance. Figures just out show the brand's sales in Australia this year so far are half what they were for the same five months of 2024. The dive in sales came as Elon Musk, the creator of Tesla, became more controversial because of his scorched-earth aid to the American president. In Canberra, often seen as a torch-bearer for electric vehicles, new figures show the Chinese brand BYD gaining ground rapidly. In the first five months of this year, it sold 490 cars in the ACT - a rate of three sales a day, well up on last year. Tesla doesn't publish its sales numbers for the ACT but registrations with the government indicated a fall. Across Australia, the new figures show that BYD has started out-selling the American car once thought to be the way forward for progressive Australians. According to the stats, Australians bought 9,577 Teslas in the first five months of this year but 15,199 BYDs. In the first five months of last year, the race was the other way round, with Tesla in the lead on 18,433 sales nationally and BYD on 7809. There are two other takeaways from the new industry figures: Another relative new-comer - Polestar - said its sales were growing substantially - up by 40 per cent in the first five months of this year compared to the same period last year. Polestar has substantial Chinese money behind it but its research and development is based in Sweden and the UK. Its managing director in Australia, Scott Maynard, thought the big need now was for far more charging stations in Australia beyond the current 2,500: "Crucial to the adoption of electric vehicles is the roll-out of charging infrastructure," he said. And he accepted that politics may have tainted Tesla. "I think the brand has unfortunately been caught up in the politics of Elon Musk." There may be other factors as well, though. Richard and Dianne Czurnak are a two-car family: he drives a Tesla and she drives a BYD Dolphin. They bought the Tesla nearly three years ago when, as he put it, "There was a lot less available on the market." But then the BYD appeared, with more Chinese brands following. "The Chinese brands all becoming very competitive in price," Mr Czumak said. He also felt that Tesla hadn't really developed new models at the pace the competition has. "It has stayed basically the same, with refreshers and upgrades." And he accepted that Elon Musk's involvement in Trumpian politics may have tainted the brand. "We all understand there's a reputational aspect, and I think that has had an effect on the brand," he said. The couple drive the BYD to Sydney and back, with a short charging stop off in Pheasants Nest, just short of Sydney - one charge gets them there and back. If they were to buy a third car after their BYD and the Tesla, he would go for another Chinese car: the XPeng G6 is very similar to the Tesla Model Y - but cheaper. But there's no doubt either that Mr Musk's association with Mr Trump has tainted the Tesla brand in some "progressive" circles. One Canberra Tesla owner said earlier that she was embarrassed when she drove around. She avoided parking her cobalt blue Tesla too close to other cars in case the paintwork was keyed. "It's a weird combination of embarrassment and rage," Diana Streak said. She accepted that "it's a fantastic car", but didn't like its association with a politics she reviles. Her friends teased her about it. Since then, Mr Musk has withdrawn as an active wielder of the chainsaw on the American public service. He and Mr Trump haven't fallen out, or not yet at least - though the businessman has called Mr Trump's tax plans "a disgusting abomination", and Mr Trump isn't the sort to take such insults calmly. But the earlier apparent warm friendship - or bromance - turned the Tesla brand toxic in the eyes of some former fans: "swasticars" was the common jibe. Bumper stickers appeared saying: "I bought this before we knew Elon was crazy" and "Bought it before we knew how awful he is". Some said the car and the man were different - Mr Musk does not own a controlling share in Tesla. "Tesla is not Musk," Ross Hetherington, the vice president of the Tesla Owners Club of Australia said. "The amount of crap that's going on is insane," the Canberra-based Tesla fan said. "I bought the car because it's a great car."
Newsweek
12-05-2025
- Automotive
- Newsweek
Why Our Pension Fund Is Halting Investments in Tesla
When I was elected as the controller of Lehigh County in Pennsylvania, one of my key responsibilities was to join a seven-person board of trustees that oversees the county's $500 million pension fund. As a pension fund trustee, I have a legal duty to act as a responsible steward of the retirement savings of 4,218 county retirees and employees. It is in this capacity that our board has decided to halt new investments in Tesla. Since Elon Musk took over at the helm of the Department of Government Efficiency (DOGE), Tesla's reputation has suffered badly. The company has been hit with a wave of negative press, mass and sustained protests, boycotts, and calls for divestment. This is having a material impact. In a recent earnings call, Tesla announced its profits in the first quarter of 2025 were down 71 percent. However, the signs that Tesla was struggling were evident before the most recent earnings calls. Elon Musk speaks in the Oval Office of the White House in Washington, D.C., on February 11, 2025. Elon Musk speaks in the Oval Office of the White House in Washington, D.C., on February 11, 2025. JIM WATSON/AFP via Getty Images Where once Tesla was the only major player in the electric vehicle (EV) field, it's now a highly competitive market. While Tesla sales were down 1.1 percent in 2024, General Motors' EV sales jumped 50 percent. And that was before Musk put Tesla's reputation through the woodchipper. In the first quarter of 2025, total EV sales in the U.S. were up 11.4 percent from the previous year, but Tesla sales were down 13.1 percent. Tesla sales have also been down across Europe, as backlash to Musk's interventions in foreign elections has grown. In China, the world's largest car market and a country in which Tesla has invested heavily, sales of all-electric BYDs increased 41.3 percent in 2024, a trend that is expected to continue now that BYD has beaten Tesla to the punch by inventing an electric vehicle that can recharge its battery in under five minutes, or roughly the time it takes to fill a car with gas. All of this helps explain why Tesla has one of the worst price-to-earning ratios of any company in the S&P 500. Measuring the ratio of a company's stock price to the company's earnings per share, price-to-earnings ratio is a method commonly used for assessing whether a company is overvalued. Currently, Tesla's price-to-earnings ratio is around 160. That means investors are paying $160 for every $1 in profits that Tesla produces. In the auto industry, the average price-to-earnings ratio is closer to 7:1. This indicates that Tesla's stock is potentially overvalued. Why would Tesla's stock still be valued so highly in the midst of declining sales and reputational carnage? The Economist explained that it's because "Tesla's valuation has long lost any connection with fundamentals and is more a bet on Mr Musk's ability to revolutionize any business that he turns his hand to." In the case of Tesla, that is largely a bet on the company conquering the market for robots and autonomous taxis. But Tesla has been promising robotaxis for a decade and has yet to launch a public service. Meanwhile, Waymo, a subsidiary of Google, already has 700 driverless taxis on the road in San Francisco, Los Angeles, and Phoenix. The debacle of the Cybertruck should also call discerning investors to question Musk's supposedly mercurial abilities. Its first new vehicle in four years, the Cybertruck was supposed to be Tesla's next big thing. But with a mere 46,000 vehicles sold in the 18 months following its launch, many analysts are calling sales a disaster for the company. Embarrassingly, the Cybertruck has been subjected to eight recalls, most recently for an issue with a glue that wasn't properly holding a side panel in place. If Tesla can't figure out how to keep a side panel glued on, should we believe they're ready to launch robotaxis? Lehigh County is far from the only institutional investor expressing concerns. In January, the Dutch pension fund, ABP, sold its $600 million stake in Tesla; in March, the $20 billion Danish pension fund, AkademikerPension, divested its shares due to reputational risks linked to Musk's political activity. In the U.S., eight State Treasurers have written an open letter to the Tesla board, expressing concerns about Musk's management of the company. Full divestment from Tesla for institutional investors can be a complicated endeavor. For now, Lehigh County has only paused investments in our actively managed funds and asked our investment manager to prepare options for divesting the company from our passively invested funds, which are largely tied up in index funds and mutual funds. It's too early to say what our investment manager will advise, and as a responsible fiduciary, we will be guided by what they tell us. However, it's not too early to see the negative impacts that Elon Musk's political activity is having on Tesla. The company has clearly reached a fork in the road. Tesla's institutional investors and its board members should act accordingly. Mark Pinsley is Lehigh County controller. The views expressed in this article are the writer's own.
NZ Herald
08-05-2025
- Automotive
- NZ Herald
Behind the Port of Auckland: Ford utes, tractors and a 1525% fee hike
However, challenges in some sectors of the economy were obvious. 'Cement is flat, structured steel through multi-cargo is the worst it's ever been, cruise was okay this year, next year [cruise demand] drops by 30%,' Gray told Markets with Madison. The volume of second-hand vehicle imports had already halved from its peak, he said. 'This trade of all has really been hit by the slowdown in the New Zealand economy.' The cars that were coming in were more combustion engine conventional cars, not electric. 'I think what will also happen is, if the tariff situation stays with the US and China, I think China will start to look for free-trade markets,' Gray said. 'So rather than sending the BYDs into the West Coast, I'm expecting us to see some quite significant growth in the importation of BYDs into markets like ours.' Gray said the company, which was owned but not controlled by the Auckland Council, planned to 'sell' back two of the port's wharves to the city for recreational use. 'Not give up, sell,' Gray explained, relating to a debate with the council about whether the land would change hands through a commercial transaction. The port had guided that it would make a full-year net profit after tax of between $75 million and $80m in the financial year about to end. 'I've been quite open about starting to charge much more in access charges, because in my view, the city wasn't getting a fair return.' The charge for a vehicle, such as a truck, to enter the container terminal was $8 when Gray arrived at the port in March 2022. It now cost $130 per vehicle - a 1525% increase. Advertise with NZME. And Gray planned to keep increasing the cost, he said, to be more in line with Australian ports that charged around $350. The company had paid down $100 million worth of debt in the past three years. It scrapped a straddle software automation project, resulting in a write-off of $65 million. 'I don't think you should ever rule out automation, but what I would say is that automation project wasn't the right one. 'We don't have any capacity constraints now for at least the next 15 to 20 years.' Go behind every aspect of the Port of Auckland operation in today's episode of Markets with Madison. Sponsored by CMC Markets. Disclaimer: The information provided in this programme is of a general nature, and is not intended to be personalised financial advice. We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances. Madison Malone (nee Reidy) is host and executive producer of the NZ Herald 's investment show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.
France 24
06-05-2025
- Automotive
- France 24
Tesla sales fall again in Germany as drivers steer clear of Musk
Just 885 Tesla electric vehicles (EVs) were registered in April, 45.9 percent fewer than the same month last year, the KBA federal transport authority said. That was almost half as many as BYD, a Chinese competitor, managed: 1,556 BYDs were registered in April, a rise of 756 percent on the year. At the same time, overall EV registrations rose 53.5 percent year-on-year and now account for almost 19 percent of the market, the highest share since the government removed a subsidy for electric vehicles in December 2023. Tesla's sales have been slowing worldwide due to a combination of fierce Chinese competition as well as anger at Musk's outspoken political positions. He has faced particular hostility in Germany for backing the far-right Alternative for Germany (AfD) before February's general election by appearing via video link at a rally and broadcasting a conversation with its co-leader, Alice Weidel, on his X platform. Other political parties in Germany shun the AfD and Germany's domestic intelligence agency last week classified it as a right-wing extremist organisation. Some German Tesla drivers have put "I bought this before Elon went crazy" stickers on their vehicles and the backlash has also taken more forceful forms. Tesla cars have been targeted in suspected arson attacks in Berlin and Dresden, and protesters have staged demonstrations against the carmaker. Over the three months to April, Tesla registrations fell a whopping 60.4 percent from the same period a year ago. Overall car registrations in Germany fell 0.2 percent in April versus the previous year, a sign that the market is stabilising after they fell almost four percent in March. Tesla chairman Robyn Denholm last week denied that the carmaker's board was looking to replace Musk as CEO.
