BYD's electric vehicle sales in Europe surpass Tesla for the first time

According to Bloomberg, China's electric vehicle giant BYD has surpassed Tesla in electric vehicle sales in Europe for the first time, outpacing this long-leading American brand in the European electric vehicle market.

According to data from market research firm Jato Dynamics, BYD registered 7,231 new pure electric vehicles in April, up 169% year-on-year, making this leading Chinese automaker one of the top ten electric vehicle sales brands. Tesla's registrations plummeted by 49%, causing its ranking to drop by one position.

In an email statement, Jato Dynamics analyst Munoz said, "Although the monthly sales gap between these two automotive brands may be small, the impact is significant. This is a watershed moment for the European automotive market."

Despite the accelerated growth of the European electric vehicle market, Tesla's sales continued to decline. Industry-wide registrations increased by 28%, with the market leader Volkswagen seeing a 61% year-on-year increase in pure electric vehicle sales in April. Registrations of electric vehicles from Volkswagen Group's Skoda brand more than tripled.

Tesla's declining sales in Europe come as automakers such as Renault and Stellantis are actively launching more affordable new electric vehicles to meet stricter emission regulations that will take effect in the EU this year.

Globally, BYD has surpassed Tesla to become the world's largest electric vehicle manufacturer, thanks to strong demand in its home market. However, this Chinese automaker is relatively new in the European market, and its rapid expansion into overseas markets has raised concerns among Western automakers.

BYD and other Chinese companies have expanded their product lines in Europe, increasing sales of plug-in hybrid electric vehicles, which have not been affected by the EU's tariff hikes.

According to Jato Dynamics' data, in April, electric vehicle registrations in Europe produced by Chinese automakers increased by 59% year-on-year to reach 15,300 units, while plug-in hybrid electric vehicle registrations surged nearly eightfold to 9,649 units. Jato Dynamics reported that BYD's total sales soared by 359%.

Source: https://www.toutiao.com/article/1832824224043016/

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