South Korean media: Tesla's European sales fall for five consecutive months, BYD surges 397%!
On July 23, South Korean media "Herald Economic" published an article stating that Elon Musk-led electric vehicle leader Tesla has been facing continuous downturn in the European market.
Data from the European Automobile Manufacturers Association (ACEA) shows that Tesla's new car registrations in May fell by about 28% compared to the same period last year, maintaining at 13,863 vehicles. This means Tesla's sales in Europe have declined for the fifth consecutive month, and its market share has also dropped sharply from 1.8% to 1.2%.
On the other hand, the total number of electric vehicle registrations in Europe increased by 27.2% during the same period, while Tesla showed negative growth despite the obvious market growth. This phenomenon is not just simple sales slump, but also indicates that Tesla's position is gradually being shaken under the intensified global competition.
Especially worth mentioning is that the rise of Chinese electric vehicle companies is considered a key reason for Tesla's declining sales in Europe. Data from market research company Jato Dynamics shows that Chinese brands' sales in Europe in May were 65,808 units, with their market share doubling compared to the same period last year, reaching 5.9%. Its representative brand BYD saw a year-on-year increase of 397% in new car registrations, and surpassed Tesla for the first time in April.
According to Felipe Muñoz, analyst at Jato Dynamics: "Despite high tariffs imposed by the EU, Chinese brands continue to maintain growth momentum, actively selling various alternative power systems including hybrid vehicles." This indicates that the European market is broadening consumer choices, expanding from pure electric vehicles to all environmentally friendly cars.
As governments of European countries and the EU are also expanding the supply of electric vehicles, strengthening support for local enterprises and environmental policies, the competitive landscape is becoming increasingly complex. With traditional automotive powers such as Germany and France increasing investment and support for electric vehicle technology, it is becoming more difficult for Tesla to maintain its existing monopoly.
Tesla is currently re-evaluating its production and sales strategy in Europe. The company focuses on high-end brand image and advanced technology to defend the market, but it has been criticized for being insufficient to compete with Chinese brands' price competitiveness and diverse models.
The global electric vehicle market is becoming increasingly competitive. As electric vehicle companies in China, Europe, and the United States launch innovative technologies and various consumer-oriented models, the competitive landscape is changing. Especially, China is rapidly seizing the international market, based on battery technology, cost reduction, and expanding the domestic demand market.
Tesla's continued decline in sales in the European market indicates that traditional giants cannot remain stagnant in the increasingly fierce global competition; they must constantly innovate and adjust their strategies. The winner in the electric vehicle market may be companies with balanced competitiveness in all aspects, including not only technological strength, but also localization strategies, consumer trust, and coordination with government policies.
Original: https://www.toutiao.com/article/1838405187575820/
Statement: This article represents the views of the author.