[Text/Observer Network Qi Qian] According to the Financial Times of the UK on May 22, the latest report showed that BYD's monthly sales of electric vehicles in Europe exceeded Tesla for the first time, marking a breakthrough in the efforts of this Chinese automaker to expand its overseas market.

Data from automotive data intelligence company Jato Dynamics showed that in April, BYD registered 7,231 pure electric vehicles in Europe, an increase of 169% year-on-year; while Tesla's registration volume was 7,165 units, down 49%. In the same month, BYD's total car registrations including plug-in hybrid electric vehicles surged by 359%.

Global analyst Felipe Munoz of Jato Dynamics said: "This is a watershed moment for the European automobile market, especially considering that Tesla has long led the European electric vehicle market, while BYD only officially began operations outside Norway and the Netherlands at the end of 2022."

At the same time, Renault, Stellantis, and other brands are actively launching new electric vehicles at more affordable prices. In April, the pure electric vehicle sales of Renault, Skoda, Volkswagen, Audi, and BMW also surpassed Tesla.

In April, BYD's sales of pure electric vehicles in Europe exceeded Tesla for the first time Bloomberg chart

The report mentioned that while Tesla recently upgraded its flagship Model Y, its sales in the European market continued to decline. After Tesla's first-quarter profit fell to its lowest level since the fourth quarter of 2020, Musk announced he would resign from his position with the U.S. government and focus on company operations.

The report noted that globally, BYD has surpassed Tesla to become the largest electric vehicle manufacturer.

In recent years, BYD has launched eight models in more than 30 European countries, including low-cost cars priced as low as 22,290 euros, with almost no direct competitors in this segment. At the same time, BYD and other Chinese automakers have accelerated their entry into the European market, successively launching plug-in hybrid electric vehicles that are not affected by the EU's 45% tariff on Chinese-made electric vehicles.

Reuters pointed out that in April, the registration volume of pure electric vehicles in Europe surged by 28% year-on-year, mainly driven by Chinese auto brands. Data showed that despite the EU's 45% tariff on Chinese-made electric vehicles, the registration volume of Chinese electric vehicles still grew by 59% year-on-year in that month, reaching 15,300 units, while the registration volume of plug-in hybrid electric vehicles increased nearly eightfold, reaching 9,649 units.

Recently, the deputy general manager of BYD Europe said at the Future Auto Summit hosted by the Financial Times that BYD provides a "full range" of products from electric vehicles to plug-in hybrid electric vehicles to meet the "diverse customer base" across the European continent.

In 2023, BYD made its appearance at the Munich Auto Show Visual China

In recent years, the European electric vehicle industry has been struggling to cope with the slowdown in overall sales growth in the European market: car manufacturers have invested heavily in production, but for consumers squeezed by high inflation, electric vehicles remain expensive. Under these circumstances, low-cost, world-leading electric vehicles from China are highly attractive to European consumers.

However, just as Chinese low-cost electric vehicles filled the gap in the European market, European governments began to wield the "tariff stick." Last October, the EU Commission insisted on imposing a so-called "final anti-subsidy tax" on Chinese electric vehicles for five years, increasing it from 10% to a maximum of 45.3%, despite opposition from European automakers and China.

China has repeatedly expressed its stance, rejecting and refusing to accept the ruling result, and has filed a lawsuit under the WTO dispute settlement mechanism. China will continue to take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.

In the face of the global trade war sparked by the Trump administration in the United States, according to the message from Yuyuan Tan Tian on April 13, recently, Commerce Minister Wang Wentao held a video meeting with EU Commissioner for Trade and Economic Security Schivojovic. The press release mentioned that both sides should immediately start negotiations on price commitments for electric vehicles. It is understood that teams from both China and the EU have already started contacts.

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Original source: https://www.toutiao.com/article/7507280484809015847/

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