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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on July 2, 2025

    Featured image for article about Headlines

    BEIJING (Reuters) -Tesla's sales of its China-made electric vehicles edged up 0.8% in June from a year earlier, snapping an eight-month losing streak, but they continued to fall on a quarterly basis in the face of lower-cost new models from its Chinese rivals.

    Deliveries of Model 3 and Model Y vehicles made in its Shanghai factory, including both China sales and exports to Europe and other markets, rose 16.1% from May to 71,599 units, data from the China Passenger Car Association showed on Wednesday.

    By comparison, global car sales for BYD, Tesla's biggest Chinese rival, increased 11% year-on-year to 377,628 units last month.

    Tesla recorded the fastest-ever model ramp-up with just six weeks to full production of the refreshed Model Y in its largest manufacturing hub in Shanghai earlier this year.

    But its sales in China and Europe have been cooling and mounting pressures from rivals and the political backlash against CEO Elon Musk are dragging on demand.

    Sales of its China-made EVs in the April-June period slid 6.8% on-year, the third quarterly decline in a row.

    Tesla's China-made EVs accounted for 51.3% of its global deliveries in the first quarter.

    The U.S. EV maker is expected to report another fall in global quarterly deliveries later on Wednesday.

    For all of 2025, Tesla's EV sales are expected to drop 10% this year to make up 13% of the global market, while BYD's global EV sales are forecast to grow by 45% to a record high or one-fifth of the world's total, according to Counterpoint Research.

    Xiaomi's new YU7 SUV, priced from 253,500 yuan ($35,396), nearly 4% below the Model Y, the best-selling SUV in China in May, received exceptionally strong initial orders.

    The SU7 sedan, the first EV from the smartphone maker turned automaker, has outsold Tesla's Model 3 on a monthly basis since December.

    Tesla has yet to further cut prices in China to fend off the YU7, as some analysts have speculated it may do. Instead, it raised the price of the long-range variant of Model 3 by 3.6% in China on Tuesday and upgraded the range by 40 km to 753 km (468 miles).

    ($1 = 7.1618 Chinese yuan renminbi)

    (Reporting by Qiaoyi Li, Zhang Yan and Brenda Goh, Editing by Louise Heavens and Kim Coghill)

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