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Tesla's European Sales Plunge 48% as BYD Surges Over 200% in Growing EV Market

MarketDash Editorial Team
13 days ago
Tesla's struggles in Europe deepen with October registrations down nearly half year-over-year, while Chinese rival BYD posts triple-digit growth as electric vehicles capture over 16% of the EU market.

Tesla Inc. (TSLA) can't seem to catch a break in Europe. The Elon Musk-led electric vehicle maker logged another painful month in October, extending a sales decline that's becoming harder to ignore.

Tesla's European Troubles Deepen

The numbers tell a rough story. Tesla recorded just 6,964 new registrations across Europe in October, representing a 48.5% year-over-year drop from the 13,519 units registered in October 2023. That's nearly half the volume gone in twelve months.

The year-to-date picture isn't much prettier. From January through October, Tesla clocked 180,688 registrations in the region, down 29.6% from the 256,495 units it moved during the same period last year. Data released Tuesday by the European Automobile Manufacturers Association (ACEA) shows the company losing ground in multiple key markets including Austria, Finland, and Spain, where sales fell over 36%.

Tesla's challenges aren't limited to Europe, either. The automaker hit a three-year low in China during October, suggesting broader headwinds beyond just one region.

BYD's European Moment

While Tesla stumbles, BYD Co. Ltd. (BYDDF) (BYDDY) is having quite the moment. The Chinese EV giant registered 17,470 units in Europe during October, a stunning 206.8% surge from last year's 5,695 units.

The year-to-date comparison is even more dramatic. BYD has recorded 138,390 registrations from January through October, representing a 285% jump compared to the same period last year. The company is clearly gaining traction, and it's not stopping there. BYD now plans to bring its Japanese 'Kei' car to European markets, pending regulatory approval for the E-car class in the region.

The Broader EV Story in Europe

Here's the interesting part: while Tesla struggles and BYD soars, the overall European EV market is actually growing nicely. Year-to-date sales from January to October reached 2,022,173 units, up 26.2% from last year's 1,602,342 units. Battery-electric vehicles now represent 16.4% of the EU market share on a year-to-date basis.

So it's not that Europeans are abandoning EVs. They're just choosing different brands, and Tesla is losing market share in a growing pie.

Tesla's FSD Push

Tesla is working on a potential comeback strategy. The company has been teasing an expansion of its Full Self-Driving (FSD) technology into Europe, targeting a February 2026 launch. The Netherlands Vehicle Authority (RDW) confirmed the timeline, though officials declined to share details about Tesla's application.

Whether advanced driver assistance features can reverse Tesla's European sales slide remains an open question, but it's clear the company needs something to change the narrative.

Price Action: TSLA shares surged 6.82% to $417.78 at Tuesday's market close, but slipped 0.76% to $414.60 in pre-market trading Wednesday, according to market data.

Back to News

Tesla's European Sales Plunge 48% as BYD Surges Over 200% in Growing EV Market

MarketDash Editorial Team
13 days ago
Tesla's struggles in Europe deepen with October registrations down nearly half year-over-year, while Chinese rival BYD posts triple-digit growth as electric vehicles capture over 16% of the EU market.

Tesla Inc. (TSLA) can't seem to catch a break in Europe. The Elon Musk-led electric vehicle maker logged another painful month in October, extending a sales decline that's becoming harder to ignore.

Tesla's European Troubles Deepen

The numbers tell a rough story. Tesla recorded just 6,964 new registrations across Europe in October, representing a 48.5% year-over-year drop from the 13,519 units registered in October 2023. That's nearly half the volume gone in twelve months.

The year-to-date picture isn't much prettier. From January through October, Tesla clocked 180,688 registrations in the region, down 29.6% from the 256,495 units it moved during the same period last year. Data released Tuesday by the European Automobile Manufacturers Association (ACEA) shows the company losing ground in multiple key markets including Austria, Finland, and Spain, where sales fell over 36%.

Tesla's challenges aren't limited to Europe, either. The automaker hit a three-year low in China during October, suggesting broader headwinds beyond just one region.

BYD's European Moment

While Tesla stumbles, BYD Co. Ltd. (BYDDF) (BYDDY) is having quite the moment. The Chinese EV giant registered 17,470 units in Europe during October, a stunning 206.8% surge from last year's 5,695 units.

The year-to-date comparison is even more dramatic. BYD has recorded 138,390 registrations from January through October, representing a 285% jump compared to the same period last year. The company is clearly gaining traction, and it's not stopping there. BYD now plans to bring its Japanese 'Kei' car to European markets, pending regulatory approval for the E-car class in the region.

The Broader EV Story in Europe

Here's the interesting part: while Tesla struggles and BYD soars, the overall European EV market is actually growing nicely. Year-to-date sales from January to October reached 2,022,173 units, up 26.2% from last year's 1,602,342 units. Battery-electric vehicles now represent 16.4% of the EU market share on a year-to-date basis.

So it's not that Europeans are abandoning EVs. They're just choosing different brands, and Tesla is losing market share in a growing pie.

Tesla's FSD Push

Tesla is working on a potential comeback strategy. The company has been teasing an expansion of its Full Self-Driving (FSD) technology into Europe, targeting a February 2026 launch. The Netherlands Vehicle Authority (RDW) confirmed the timeline, though officials declined to share details about Tesla's application.

Whether advanced driver assistance features can reverse Tesla's European sales slide remains an open question, but it's clear the company needs something to change the narrative.

Price Action: TSLA shares surged 6.82% to $417.78 at Tuesday's market close, but slipped 0.76% to $414.60 in pre-market trading Wednesday, according to market data.