BYD electric vehicles outsell Tesla in Europe for the first time — sales up 169%

The electric vehicle market in Europe is experiencing another turning point — and this time, it’s not Tesla that’s leading the way. For the first time, Chinese automaker BYD has surpassed Tesla in terms of the number of registered electric cars in Europe. This move could dramatically change the balance of power in the European market, which was previously considered more favorable to Tesla products. However, it seems that European consumers did not appreciate Musk’s «heartfelt» greeting and his interference in the political race. And Tesla’s outdated model lineup makes customers look for an alternative. Therefore, we have a reshuffle among electric vehicle manufacturers.

According to Jato Dynamics analysts, in April, registrations of BYD all-electric cars in Europe amounted to 7231 units. This is 169% more than in the same period last year. Thanks to this rapid growth in registrations, the company was able to enter the top 10 brands in terms of electric car sales in the region. Meanwhile, Tesla suffered a sharp drop: registrations decreased by 49%, and the brand was ranked one position below BYD.

Jato Dynamics analyst Felipe Muñoz emphasized that although the difference in sales between the two brands is not large (only a few dozen), its significance is symbolic:

While the overall electric vehicle market in Europe grew by 28%, Tesla is showing a decline. For example, Volkswagen increased sales of electric cars by 61%, and its subsidiary Skoda — tripled. Tesla, on the other hand, continues to lose ground.

If hybrids are also taken into account, BYD’s lead is even more pronounced: the company’s total sales (including plug-in hybrids) in April increased by 359% compared to last year. Until recently, Chinese manufacturers, including BYD, focused on all-electric cars in Europe. They were inspired by the EU’s ambitious climate goals. However, the situation changed after the European Union imposed additional duties on Chinese electric vehicles, accusing Beijing of excessive subsidization. In response, BYD and other Chinese companies began to actively sell plug-in hybrids in Europe, which also meet environmental standards but have lower production and logistics risks.

BYD is actively conquering the market, including through affordable electric vehicles. Now the company is preparing a new model for the European market — the Dolphin Surf electric hatchback with a range of 220 km, which is promised to be sold for less than €23,000, and the starting price by the end of June will be only €19990. This is significantly cheaper than most competitors. The Dolphin Surf — a slightly larger and revised version of the Seagull — will have a rotating touchscreen, keyless entry and a new generation of cruise control. Main competitors — Renault R5 and Citroën ë-C3 from Stellantis.

Source: bloomberg