European car sales showed renewed momentum in August, driven by growing consumer adoption of electric and hybrid vehicles from regional manufacturers. Meanwhile, Tesla’s European market share plummeted to just 1.9% as Chinese competitor BYD more than tripled its deliveries. The data highlights shifting competitive dynamics in the continent’s automotive sector, with traditional German automakers Volkswagen, BMW, and Mercedes-Benz all gaining ground while US EV pioneer Tesla continues its downward spiral.
about European EV Sales Rise as Tesla Slumps, BYD Surges
BYDDF
Goldman Sachs Bullish on 10 China Stocks as ‘Magnificent 7’ Rivals
Goldman Sachs has identified ten Chinese companies—including Tencent, Alibaba, BYD, and Xiaomi—as high-growth prospects, comparing them to the US ‘Magnificent 7.’ The bank’s analysts highlight favorable regulations, AI investments, and government support for private enterprises as catalysts for a projected 13% earnings growth over the next two years. These firms span sectors like e-commerce, EVs, gaming, and pharmaceuticals, reflecting China’s push for self-sufficiency and global expansion. Goldman also notes the Chinese equity market’s undervaluation and improved M&A regulations as additional tailwinds.
about Goldman Sachs Bullish on 10 China Stocks as 'Magnificent 7' RivalsStock Market Recovers as Leading Stocks Shine Amid Mixed Economic Data
Major indexes fell but rebounded on Friday, with leading stocks like Nvidia flashing buy signals. Tesla’s Q4 deliveries missed expectations, leading to a sharp stock decline, while BYD outperformed in EV sales. GM and Ford reported strong Q4 sales, with significant growth in EV sales for both companies.
about Stock Market Recovers as Leading Stocks Shine Amid Mixed Economic Data