Latest news with #DolphinSurf
The Guardian
05-08-2025
- Automotive
- The Guardian
Tesla's UK sales fall almost 60% in July; Trump attacks ‘woke' JLR as it announces new boss
Update: Date: 2025-08-05T08:27:22.000Z Title: Just in: Sales of Teslas in the UK more than halved, year-on-year, in the UK last month as the electric carmaker's struggles continue. Content: Rolling coverage of the latest economic and financial news Graeme Wearden Tue 5 Aug 2025 10.27 CEST First published on Tue 5 Aug 2025 08.42 CEST 10.25am CEST 10:25 Industry body data just released shows that just 987 new Teslas were registered in the UK in July, almost 60% less than the 2,462 registered in July 2024. This means Tesla's UK market share shrank to 0.7% in July, from 1.67% a year ago. For 2025 to date, Tesla sales in the UK are 7% lower, during a year in which CEO Elon Musk has faced heavy criticism for his – now-soured – relationship with Donald Trump. The wider UK electric car sector grew in July, though. Sales of battery-powered vehicles (BEVs) rose by 9.1% to 29,825, giving BEVs a 21.3% share of the market. China's BYD more than quadrupled its sales last month, to 3,184 in July from 768 a year ago. The company recently launched a relatively cheap electric car, the Dolphin Surf, in the UK. BYD's sales are up 514% during 2025 to 22,574, up from 3,672 in January-July 2024. That's only slightly fewer than Tesla which has shifted 23,708 cars so far this year. Last month Tesla reported a large drop in quarterly deliveries, as demand faltered due to the backlash over CEO Elon Musk's political stance. Tesla's sales have also been hurt by its aging model line-up – the company has been rolling out an updated Model Y this year, dubbed the 'Juniper' refresh. Yesterday, Tesla announced it was handing Musk stock options worth almost $30bn, in an attempt to keep him committed to the company for the next few years. Overall, the UK's new car market shrank by 5% in July with 140,154 units registered, which is the weakest July since 2022. Mike Hawes, SMMT chief executive, says: July's dip shows yet again the new car market's sensitivity to external factors, and the pressing need for consumer certainty. Confirming which models qualify for the new EV grant, alongside compelling manufacturer discounts on a huge choice of exciting new vehicles, should send a strong signal to buyers that now is the time to switch. That would mean increased demand for the rest of this year and into next, which is good news for the industry, car buyers and our environmental ambitions. 9.35am CEST 09:35 The UK's Domino's Pizza Group has cut its profit forecast this morning, warning that costs are climbing as sales fall. The group, which has the exclusive rights to the Domino's brand in the UK and Ireland, reported that total orders were flat in the first half of this year, and that like-for-like sales fell 0.7% in April-June. Pre-tax profits have fallen by almost a third, on a statutory basis, from £59.4m to £40.5m. Domino's now expect underlying profits to come in between £130m to £140m, down from a previous forecast of £140.8m-£149.7m. Several factors were blamed, including weak consumer confidence and rising employment costs. CEO Andrew Rennie blamed higher employment costs – following last year's budget – and uncertainty over what chancellor Rachel Reeves might announce this autumn, saying: 'There's no getting away from the fact that the market has become tougher both for us and our franchisees, and that's meant that the positive performance across the first four months didn't continue into May and June. Given weaker consumer confidence, increased employment costs and uncertainty ahead of the Autumn Statement, franchisees are taking a more cautious approach to store openings for the time being. Shares in Domino's Pizza Group have fallen by 19% in early trading. Updated at 9.36am CEST 9.12am CEST 09:12 Overnight, UK luxury-car maker Jaguar Land Rover has named a new CEO – winning a blast from Donald Trump. JLR named P B Balaji, the finance boss of parent company Tata Motors, as its new chief executive, increasing the Indian owner's influence over the company. Balaji will replace Adrian Mardell, who had run JLR for the last few years. Mardell's tenure will be remembered for last year's rebranding, and the launch of a new concept electric car which looked nothing like a traditional Jag, which captured attention and wound-up the rightwing commentariat. Anti-woke cheerleader Donald Trump was quick to give Mardell a hoofing on his way out the door. Posting on his Truth Social site, Trump declared that Jaguar's 'stupid, and seriously WOKE advertisement' had been 'A TOTAL DISASTER!', adding: The CEO just resigned in disgrace, and the company is in absolute turmoil. Who wants to buy a Jaguar after looking at that disgraceful ad. Shouldn't they have learned a lesson from Bud Lite, which went Woke and essentially destroyed, in a short campaign, the Company. Trump also hailed actor Sydney Sweeney's new advert for American Eagle as a triumph, saying the 'HOTTEST' ad meant jeans were now 'flying off the shelves.' Sweeney is probably in Trump's good books after it emerged she was a registered Republican voter in Florida. 8.46am CEST 08:46 BP is also planning to pump more cash to its shareholders. The company is raising its quarterly dividend by 4 per cent to 8.32 cents a share, subject to board approval. It has also announced a new $750m share buyback programme. 8.42am CEST 08:42 Oil giant BP is launching a new cost-cutting scheme, despite reporting better than expected profits, as its incoming chairman gets to grips with the company in the face of pressure from activist investors. BP has beaten City expectations this morning by reporting a smaller drop in underlying profits than expected in the last quarter. On an underlying replacement cost basis, profits rose to $2.35bn in April-June. That's 15% lower than the same quarter a year ago when the company benefitted from higher oil and gas prices, but also a jump on the $1.38bn profits posted in January-March. Analysts had forecast a smaller rise in underlying profits, to $1.8bn. But despite this beat, CEO Murray Auchincloss says 'there's much more to do'. Auchincloss tells shareholders this morning: In advance of chair elect, Albert Manifold joining the board on 1 September, he and I have been in discussions and have agreed that we will conduct a thorough review of our portfolio of businesses to ensure we are maximizing shareholder value moving forward - allocating capital effectively. We are also initiating a further cost review and, whilst we will not compromise on safety, we are doing this with a view to being best in class in our industry. Earlier this year, BP announced plans to cut more than $5bn from its previous green investment plan. But activist investor Elliott Management has been pushing BP to cut its operating expenses more aggressively and demanding more cost reductions. Manifold is due to become chairman on 1 October, a month after joining the board as a non-executive director. 8.42am CEST 08:42 Good morning, and welcome to our rolling coverage of business, the financial markets, and the world economy. UK car sales dipped last month, after a bumper June. British new car registrations fell about 5% year-on-year in July, according to preliminary data released this morning by the Society of Motor Manufacturers and Traders (SMMT). Battery electric vehicles are now projected to account for 23.8% of new registrations in 2025, slightly up from SMMT's previous forecast of 23.5%. The SMMT should release its final figures for July at 9am. The data comes as the UK government announces that France's Citroën will be the first company to benefit from its new discount scheme, which cuts the cost of a new EV for consumers. Transport Secretary Heidi Alexander has confirmed buyers will get discounts of £1,500 off 4 Citroën models – the Citroën ë-C3, ë–C4, ë-C5 and the ë-Berlingo - from today. The scheme aims to bring down the price of electric cars to more closely match their petrol and diesel counterparts. 9am BST: UK new car sales for July 9am BST: eurozone service sector PMI for July 9.30am BST: UK service sector PMI for July 1.30pm BST: US trade data for June 2.45pm BST: US service sector PMI for July Updated at 9.23am CEST
TimesLIVE
04-08-2025
- Automotive
- TimesLIVE
BYD Atto 1 could dethrone Dayun Yuehu S5 as SA's cheapest EV
The BYD Atto 1 is tipped to become South Africa's most affordable electric vehicle (EV) when it launches in September. Known as the Dolphin Mini or Dolphin Surf in other markets, the Chinese carmaker's compact electric hatchback is expected to retail for about R350,000 — an enticing proposition for Mzansi motorists looking to make the switch from petrol to battery power. If launched at this price, the Atto 1 would undercut the country's current most affordable EV, the R399,900 Dayun Yuehu S5 Standard. Roughly the same size as a MINI Cooper, the BYD Atto 1 measures 3,990mm in length, 1,720mm in width and 1,590mm in height, with a 2,500mm wheelbase. In overseas markets, it's offered with either a 30.08kWh or 38.88kWh 'Blade' battery pack. Both power a single electric motor mounted to the front axle. The smaller battery offers a driving range of up to 220km, while the larger pack extends this to 322km. The Atto 1 also supports Vehicle-to-Load (V2L) technology, which turns the car into a mobile power bank capable of running appliances and lights — a handy feature in a country prone to load-shedding. Inside the cabin, standard features include a rotating 10.1-inch touchscreen infotainment system with Apple CarPlay and Android Auto integration, voice activation, air conditioning, heated seats, wireless charging, cruise control and a reverse camera. Safety tech includes ABS brakes and electronic stability control. The downloadable BYD smartphone app allows owners to lock and unlock the vehicle remotely, check battery levels and precondition the cabin temperature. It also provides service reminders, diagnostic alerts and live tracking. More details regarding final pricing and specification are expected closer to the Atto 1's official launch, so stay tuned for updates.
The Citizen
01-08-2025
- Automotive
- The Citizen
BYD approves Dolphin Mini for South Africa as renamed Atto 1
Poised to become BYD's entry-level model and EV, the Atto 1 will reportedly become one of South Africa's electric vehicles when it goes on-sale. BYD's smallest electric vehicle, the Atto 1, is heading to South Africa in September as its most affordable product and EV. What is it? Billed by as a cool, fun-loving, compact EV for the big city, the Atto 1, known as the Dolphin Mini in China and Dolphin Surf in other markets, measures 3 990 mm in length and 1 720 mm in width, dimensions comparable to that of the all-electric Mini Cooper, though shorter and narrower than the GWM Ora 03 and BYD's current most affordable EV, the Dolphin. ALSO READ: BYD Shark dethrones Ford Ranger Raptor as fastest bakkie in SA Equipped with the firm's Blade Battery, available in either 30 and 42.2-kWh capacity, the former in 300-volt and 288-volt, and the latter in 288-volt guises, BYD claims operating ranges of 220 km, 322 km and 310 km for the aforementioned derivatives, respectively. Funky Atto 1 will have a range 322 km in its longest range battery form. Image: While the smaller battery can receive up to 65 kW at a DC fast charging station, the larger battery can receive up to 85 kW. At such a facility, a 10-80% recharge takes 30 minutes, BYD says. Exclusively available in front-wheel-drive, the Atto 1 models' permanent synchronous electric motor produces 65 kW in 300-volt and 288-volt 30-kWh guises, and 115 kW in the 42.2-kWh model. Interior will have BYD's familiar rotating infotainment display. Image: The firm claims 0-100 km/h sprint times of 11.1, 12.1 and 9.1 seconds for these derivatives, respectively. Likely price However, while the Shenzhen automaker's South African arm has remained tight-lipped about how much the Atto 1 will cost once it arrives, reports from its home market have suggested what we can expect. According to reports from China, BYD is hoping to launch the Atto 1 in South Africa for under R400 000, which will make it one of the most affordable EV passenger cars in our market. NOW READ: Plans soon: BYD tipped to expand South African footprint
Yahoo
14-07-2025
- Automotive
- Yahoo
Chinese EVs take off in the UK as BYD closes in on Tesla
The UK has become a pivotal market for Chinese electric vehicle (EV) manufacturers, accounting for 30% of all Chinese electric models sold across Europe. The number of electric cars on UK roads has nearly doubled in the past two years, and nearly one in five new cars sold in 2024 was electric. BYD ( China's leading EV company, is at the forefront of this push, challenging Tesla (TSLA) to get the top spot in the UK. In May, the Shenzhen-based company sold just 40 fewer cars than Tesla, having surpassed it for the first time in April. BYD's latest move in the UK market, introducing the budget-friendly Dolphin Surf, marks another chapter in its pursuit to become the world's largest electric carmaker. Starting at £18,650, the Dolphin Surf is now one of the most affordable new vehicles in the UK. For comparison, the cheapest electric car on sale in the country, the Dacia Spring, is priced at £14,995 and offers a range of 140 miles. Other budget EVs include the Citroën ë-C3 at £18,305 and Renault's ( 5 model, which starts at £22,995. The Dolphin Surf offers an official range of up to 137 miles and comes equipped with features usually found in higher-end models, such as a rotating touchscreen, intelligent cruise control, and automatic emergency braking. The company, which started out manufacturing batteries for mobile phones, has set a new sales record in the UK, delivering 9,271 cars in Q1 2024 alone. Its success in the UK mirrors a broader surge in demand for Chinese EVs across Europe. Read more: UK's best-selling cars revealed In March 2024, Chinese manufacturers accounted for 30% of all electric vehicle sales in the UK, according to data from Matthias Schmidt, an electric vehicle analyst, with rivals such as Xpeng (XPEV), Leapmotor ( and Jaecoo, owned by state-controlled Chery, also making inroads into the market. BYD's expansion comes as the company's market capitalisation has surged to $141bn, nearly three times the value of Volkswagen ( though still a fraction of Tesla's market dominance, which is valued at nearly $1tn. BYD has expanded its sales from 400,000 cars in 2020 to more than 3.7 million in 2023. In a show of its growing ambition, BYD added 200,000 employees in 2024, more than the entire workforce of General Motors (GM). Read more: Is it cheaper to run an electric vehicle or a petrol car? In Europe, Tesla is showing signs of losing momentum. In May, the company sold just 13,863 vehicles in the region, down 28% from the same period a year earlier. As Tesla's growth stalls, Chinese automakers such as BYD, SAIC ( and others are rapidly stepping into the void. The European Automobile Manufacturers' Association (ACEA) recently reported that SAIC, the Chinese state-owned conglomerate behind the MG brand, was the fastest-growing manufacturer in Europe. In May, SAIC sold almost twice as many cars across the region as Tesla. Tesla's faltering European performance has been further compounded by a growing boycott, fuelled by CEO Elon Musk's controversial political stances. The electric vehicle maker, once the darling of the EV revolution, has seen its stock plummet by 25% so far this year. Investors are concerned about the damage to the Tesla brand in Europe, where sales have fallen sharply, and in the US, where Musk's embrace of right-wing politics has alienated a segment of consumers. There have been protests outside dozens of Tesla dealerships in the US, Canada, the UK, Germany and Portugal. The day Musk announced plans to form a new political party, Tesla lost more than $68bn in market cap. 'Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,' Dan Ives, global head of technology research at Wedbush Securities, said in a note on Sunday. 'While the core Musk supporters will back him at every turn no matter what, there is broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.' Tesla's plummeting deliveries in a steadily growing global EV market come despite Musk saying in April that sales had turned around. Read more: 3.5 million on track to pay higher mortgages by 2028 In a bid to boost demand, Tesla recently refreshed its top-selling Model Y crossover. However, the redesign came with a production halt and caused many potential buyers to delay their purchases, waiting for the updated version. Meanwhile, rivals like BYD and Chery are speeding past Tesla, each increasing their global sales by approximately 40% in 2024, as Musk's company experienced its first annual sales decline. Last month, smartphone giant-turned EV maker Xiaomi ( launched its YU7 electric SUV in May, racking up over 240,000 preorders in just 24 hours. Likewise, Chinese startup Xpeng unveiled its G7 SUV, a direct rival to the Model Y, which also saw strong early demand. Both of these vehicles are priced competitively below the Model Y in China. The shift in global EV sales patterns is a sign of China's rising influence. From 2020 to 2024, foreign automakers such as Volkswagen, Toyota (7203.T, TM), and GM (GM) saw their sales in China drop from 9.4 million units annually to 6.4 million, according to data provided to Reuters by consultancy Automobility. During the same period, China's domestic automakers — BYD, Geely ( and others — saw their sales more than double, rising from 4.6 million to 9.5 million. This shift is partly driven by the aggressive pricing strategies of Chinese automakers. For instance, BYD now offers 0% APR deals in Europe, a tactic that Tesla once employed to attract buyers. The BYD Dolphin, priced from £279 per month with 0% APR, is drawing attention, as is the BYD Atto 3, which starts at £399 per month with a £3,100 deposit contribution and dealer discounts. In comparison, Tesla's vehicles, like the facelifted Model Y, start at £399 per month with a £6,100 deposit and a 2.9% APR rate. Tesla remains a dominant player in the global EV market but is increasingly facing competition, especially in Europe and China. Musk's controversial political moves have added another layer of uncertainty, leaving investors to question the company's future. The key challenge now is whether Tesla can gain speed or be overtaken by in to access your portfolio
Yahoo
14-07-2025
- Automotive
- Yahoo
Chinese EVs take off in the UK as BYD closes in on Tesla
The UK has become a pivotal market for Chinese electric vehicle (EV) manufacturers, accounting for 30% of all Chinese electric models sold across Europe. The number of electric cars on UK roads has nearly doubled in the past two years, and nearly one in five new cars sold in 2024 was electric. BYD ( China's leading EV company, is at the forefront of this push, challenging Tesla (TSLA) to get the top spot in the UK. In May, the Shenzhen-based company sold just 40 fewer cars than Tesla, having surpassed it for the first time in April. BYD's latest move in the UK market, introducing the budget-friendly Dolphin Surf, marks another chapter in its pursuit to become the world's largest electric carmaker. Starting at £18,650, the Dolphin Surf is now one of the most affordable new vehicles in the UK. For comparison, the cheapest electric car on sale in the country, the Dacia Spring, is priced at £14,995 and offers a range of 140 miles. Other budget EVs include the Citroën ë-C3 at £18,305 and Renault's ( 5 model, which starts at £22,995. The Dolphin Surf offers an official range of up to 137 miles and comes equipped with features usually found in higher-end models, such as a rotating touchscreen, intelligent cruise control, and automatic emergency braking. The company, which started out manufacturing batteries for mobile phones, has set a new sales record in the UK, delivering 9,271 cars in Q1 2024 alone. Its success in the UK mirrors a broader surge in demand for Chinese EVs across Europe. Read more: UK's best-selling cars revealed In March 2024, Chinese manufacturers accounted for 30% of all electric vehicle sales in the UK, according to data from Matthias Schmidt, an electric vehicle analyst, with rivals such as Xpeng (XPEV), Leapmotor ( and Jaecoo, owned by state-controlled Chery, also making inroads into the market. BYD's expansion comes as the company's market capitalisation has surged to $141bn, nearly three times the value of Volkswagen ( though still a fraction of Tesla's market dominance, which is valued at nearly $1tn. BYD has expanded its sales from 400,000 cars in 2020 to more than 3.7 million in 2023. In a show of its growing ambition, BYD added 200,000 employees in 2024, more than the entire workforce of General Motors (GM). Read more: Is it cheaper to run an electric vehicle or a petrol car? In Europe, Tesla is showing signs of losing momentum. In May, the company sold just 13,863 vehicles in the region, down 28% from the same period a year earlier. As Tesla's growth stalls, Chinese automakers such as BYD, SAIC ( and others are rapidly stepping into the void. The European Automobile Manufacturers' Association (ACEA) recently reported that SAIC, the Chinese state-owned conglomerate behind the MG brand, was the fastest-growing manufacturer in Europe. In May, SAIC sold almost twice as many cars across the region as Tesla. Tesla's faltering European performance has been further compounded by a growing boycott, fuelled by CEO Elon Musk's controversial political stances. The electric vehicle maker, once the darling of the EV revolution, has seen its stock plummet by 25% so far this year. Investors are concerned about the damage to the Tesla brand in Europe, where sales have fallen sharply, and in the US, where Musk's embrace of right-wing politics has alienated a segment of consumers. There have been protests outside dozens of Tesla dealerships in the US, Canada, the UK, Germany and Portugal. The day Musk announced plans to form a new political party, Tesla lost more than $68bn in market cap. 'Very simply Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the Tesla story,' Dan Ives, global head of technology research at Wedbush Securities, said in a note on Sunday. 'While the core Musk supporters will back him at every turn no matter what, there is broader sense of exhaustion from many Tesla investors that Musk keeps heading down the political track.' Tesla's plummeting deliveries in a steadily growing global EV market come despite Musk saying in April that sales had turned around. Read more: 3.5 million on track to pay higher mortgages by 2028 In a bid to boost demand, Tesla recently refreshed its top-selling Model Y crossover. However, the redesign came with a production halt and caused many potential buyers to delay their purchases, waiting for the updated version. Meanwhile, rivals like BYD and Chery are speeding past Tesla, each increasing their global sales by approximately 40% in 2024, as Musk's company experienced its first annual sales decline. Last month, smartphone giant-turned EV maker Xiaomi ( launched its YU7 electric SUV in May, racking up over 240,000 preorders in just 24 hours. Likewise, Chinese startup Xpeng unveiled its G7 SUV, a direct rival to the Model Y, which also saw strong early demand. Both of these vehicles are priced competitively below the Model Y in China. The shift in global EV sales patterns is a sign of China's rising influence. From 2020 to 2024, foreign automakers such as Volkswagen, Toyota (7203.T, TM), and GM (GM) saw their sales in China drop from 9.4 million units annually to 6.4 million, according to data provided to Reuters by consultancy Automobility. During the same period, China's domestic automakers — BYD, Geely ( and others — saw their sales more than double, rising from 4.6 million to 9.5 million. This shift is partly driven by the aggressive pricing strategies of Chinese automakers. For instance, BYD now offers 0% APR deals in Europe, a tactic that Tesla once employed to attract buyers. The BYD Dolphin, priced from £279 per month with 0% APR, is drawing attention, as is the BYD Atto 3, which starts at £399 per month with a £3,100 deposit contribution and dealer discounts. In comparison, Tesla's vehicles, like the facelifted Model Y, start at £399 per month with a £6,100 deposit and a 2.9% APR rate. Tesla remains a dominant player in the global EV market but is increasingly facing competition, especially in Europe and China. Musk's controversial political moves have added another layer of uncertainty, leaving investors to question the company's future. The key challenge now is whether Tesla can gain speed or be overtaken by rivals.
