KEY TAKEAWAYS
- Tesla’s sales in the European Union tumbled in July for a seventh consecutive month, while those of Chinese rival BYD’s soared.
- According to the European Automobile Manufacturers’ Association, Tesla’s EU new car registrations, which serve as a proxy for sales, plunged 42.4% year-over-year, while those of BYD’s soared 206%.
- Tesla shares, which entered Thursday down 13% this year, are little changed in morning trading.
Tesla’s (TSLA) sales in the European Union (EU) tumbled in July for a seventh consecutive month, while those of Chinese rival BYD’s soared.
According to the European Automobile Manufacturers’ Association, Tesla’s EU new car registrations, which serve as a proxy for sales, plunged 42.4% year-over-year in July to 6,600 vehicles, and have dropped 43.5% over the first seven months of 2025 to 77,446. Tesla’s percentage of new car registrations in the EU fell to 0.7% in July from 1.3% a year earlier.
Tesla’s percentage of new car registrations in the EU, along with the U.K., Iceland, Norway and Switzerland, fell to 0.8% from 1.4% in July last year.
Tesla’s showing came against a backdrop of rising regional EV sales, especially by Chinese EV maker BYD. Battery-electric vehicle (BEV) registrations in the bloc make up 15.6% of the EU market, up from 12.5% in July 2024.
Last month, BYD’s market share in the EU rose to 1.1% from 0.4% in July last year, as new car registrations soared 206% to 9,698. Combined with the U.K., Iceland, Norway and Switzerland, BYD’s regional market share surged to 1.2% in July from 0.4% the same month last year.
Tesla shares, which entered Thursday down 13% this year, are little changed in morning trading.
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