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Global factors like tariffs imposed on vehicle imports are also creating waves in the automotive market. The U.S. has introduced tariffs that could inflate car prices significantly, squeezing the margins of automakers, particularly those importing from Europe. This situation could heavily affect German automakers, who are already grappling with low production utility rates and declining sales, particularly in the Chinese market.
BYD’s Competitiveness
In contrast, BYD maintained robust performance, selling 416,000 BEVs in Q1, outperforming Tesla temporarily in sales figures. However, Tesla still holds the position as the dominant player in the annual BEV market, demonstrating a need for Tesla to catch up quickly in sales volume.