Korean media: Tesla lags behind BYD in Europe, but is thriving in South Korea!

On September 26, the Korean media "Chosun Ilbo" published an article stating that the US electric vehicle company Tesla is struggling in Europe and has been overtaken by the Chinese company BYD, which is rising in the European market.

According to the European Automobile Manufacturers Association, Tesla's new car sales in July totaled 8,837 units, a 40.2% decrease compared to the same period last year (14,769 units). This figure includes sales in the EU, the European Free Trade Association, and the UK. Tesla's sales in Europe this year have reached 119,013 units, a 33.6% decrease compared to 179,338 units in the same period last year (January-July).

At the same time, in the European market, BYD sold 13,503 cars in July alone, a 225.3% increase compared to the same period last year (4,151 units). This means its European sales have more than tripled in just one year. Tesla's overall market share in Europe has dropped from 1.4% a year ago to 0.8%, while BYD's market share has risen from 0.4% to 1.2%, surpassing Tesla. BYD's current annual sales in Europe are 84,416 units, closely following Tesla.

Foreign media analysts attribute the low sales to the European public's dislike of CEO Elon Musk's political views, which has led to Tesla's continuous setbacks in competition with BYD. Meanwhile, BYD is trying to expand its share in the European market by offering highly competitive prices. American business media CNBC reported: "Tesla failing to significantly improve its electric vehicle product line is also one of the reasons for the low sales."

However, the South Korean market is booming. In July alone, Tesla sold 7,357 units in the South Korean market, becoming the best-selling imported electric vehicle brand in South Korea, led by the Model Y. Tesla's first pickup truck has also entered the South Korean market. Tesla Korea announced that it has officially launched the electric pickup truck "Cybertruck" in South Korea.

Original: www.toutiao.com/article/1844310771449868/

Statement: The article represents the personal views of the author.