STORY: Chinese carmaker BYD sold more electric vehicles (EV) in Europe than Tesla for the first time, in a “watershed moment”.
That’s according to a report from market researchers JATO Dynamics.
This shift away from Tesla comes as its aging model lineup and CEO Elon Musk's politics hurt demand.
The report said in April, BYD registered 7,231 battery-powered EVs in Europe – while Tesla registered almost 70 fewer.
This is significant, an industry analyst said, as Tesla’s led the market for years…
While BYD only officially began operations beyond Norway and the Netherlands in late 2022.
Demand for EVs in Europe remains steady.
And despite the EU’s tariffs on Chinese-made EVs, registrations of such cars increased 59% in April from a year earlier.
:: Tesla
While carmakers from Europe, Japan, South Korea and the U.S. recorded 26% growth.
For Tesla, it reported its first drop in annual deliveries last year.
And analysts expect another fall this year after a 13% decline in Q1.
Musk's political actions have not only contributed to a demand slump, but also triggered waves of protests against Tesla.
:: Tesla
And analysts say customers are also waiting for cheaper versions of its bestseller Model Y to become widely available before buying.
However, Musk said earlier this week that Tesla had already turned around sales, and demand was strong in regions apart from Europe.
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