BYD sells more electric vehicles in Europe than Tesla for first time
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BYD has sold more electric vehicles in Europe than Tesla for the first time, marking a breakthrough for the Chinese group’s efforts to expand into overseas markets.
BYD registered 7,231 fully electric cars in Europe last month compared with 7,165 registrations for Tesla, according to research group Jato Dynamics, the automotive data intelligence firm.
The Chinese group’s aggressive expansion into Europe has coincided with a slump in sales for Tesla due to its ageing product portfolio and a backlash to Musk’s intervention into regional politics.
“This is a watershed moment for Europe’s car market, particularly when you consider that Tesla has led the European battery electric vehicle market for years, while BYD only officially began operations beyond Norway and the Netherlands in late 2022,” said Felipe Munoz, global analyst at Jato Dynamics.
Tesla’s sales have continued to decline in key European markets despite a recent upgrade of its flagship Model Y car. Musk has also announced that he was stepping back from his government role in the US to focus on running the carmaker after its first-quarter profits fell to the lowest level since the fourth quarter of 2020.
The US EV company’s decline in Europe also comes as Renault, Stellantis and other brands have aggressively rolled out new battery-run vehicle models at more affordable prices to meet tougher emissions regulations in the EU starting this year.
On a global level, BYD has overtaken Tesla as the world’s largest maker of electric vehicles driven by strong demand in its home market. But the Chinese group is a relative newcomer in Europe and its rapid foray into overseas markets has sparked alarm among western carmakers.
BYD and other Chinese groups have expanded their product line-up in Europe, increasing the sales of plug-in hybrids, which are not hit by the EU’s higher tariffs.
Registration of EVs made by Chinese carmakers rose by 59 per cent year-on-year in Europe in April to 15,300 vehicles, while plug-in hybrids increased nearly eight-fold to 9,649 units, according to Jato.
