Tesla has been unable to get out of the quagmire of a sharp decline in sales in Europe in the past half year as Musk's series of political actions this year continued to arouse resentment among European consumers. At the same time, Chinese electric car companies represented by BYD are continuing to make efforts...
The latest data released by the European Automobile Manufacturers Association (ACEA) on Thursday showed that,In July, new car registrations of BYD models in the EU increased by 206.4% year-on-year, reaching 9,698 units. If you include the five non-EU markets of the United Kingdom, Iceland, Liechtenstein, Norway and Switzerland, BYD's new car registrations in July reached 13,503 units, a year-on-year increase of 225.3%. New car registrations often reflect sales performance.
As a comparison,Registrations of Tesla models in the European Union shrank by more than 42% in July to 6,600 vehicles. New car registrations in the broader European market, which covers five countries including the United Kingdom, also dropped by 40% to 8,837 vehicles, continuing the company's disappointing monthly sales decline in the European market this year.
This also means that BYD’s new car registrations in the above-mentioned European markets in July were 52.8% more than Tesla’s. In July, BYD's European market share was 1.2%, while Tesla's was only 0.8%.
According to statistics from consumer research organization JATO Dynamics, BYD's sales surpassed Tesla's in the European market for the first time in April this year, and the advantage now seems to be becoming even greater.
Many people in the industry pointed out thatChinese automakers are currently relying on more competitive prices and rich product line advantages to continue to actively expand in the European market and seize market share from global competitors.
It is worth mentioning that on August 25, local time, BYD Auto (Thailand) Co., Ltd. also announced that it would export electric vehicles produced at its Thai factory to the European market for the first time, with a total of more than 900 vehicles, with destinations including the United Kingdom, Germany and Belgium.
Data from the European Automobile Manufacturers Association shows that sales of SAIC Group's models in the European market in July also reached 23,316 units, a year-on-year increase of 13.1%.
Overall, total EU passenger car registrations increased by 7.4% in July to 914,680 vehicles. By country, sales in Germany increased by 11%, but sales in France and Italy fell by 7.7% and 5.1% respectively.
In that month, the EU new energy vehicle market actually showed obvious signs of recovery. Registrations of pure electric vehicles, hybrid vehicles and plug-in hybrid vehicles increased by 39.1%, 56.9% and 14.3% respectively, accounting for 59.8% of EU car registrations, up from 51.1% in July 2024.
However, even under this circumstance, sales of Tesla's models in the EU still suffered a serious decline in July. In this regard, industry insiders pointed out that in addition to facing more fierce global competition, Tesla has also been dealing with the impact of Musk's previous participation in the Trump administration for several months. Investors are concerned that the billionaire has not spent enough time on the company during his time in Washington.
According to Tesla’s earlier financial report, its net profit fell by 16% in the second fiscal quarter. The company has recently been tweaking its product line in an attempt to attract more buyers.
