BYD (HKG: 1211, OTCMKTS: BYDDY) outsold Tesla (NASDAQ: TSLA) in Europe for the first time in terms of battery electric vehicle (BEV) sales, as the former rose while the latter plunged.
In April, new car registrations in Europe totaled 1,078,521 units, up 1,399 units from the same month in 2024, according to a report today from market research firm Jato Dynamics.
BYD registered 7,231 BEVs in Europe in April, up 169 percent compared to the same month last year.
This puts BYD among the top 10 brands in BEV sales at No. 10.
Tesla's registrations in Europe were down 49 percent in April to 7,165 units, placing it 11th on the list.
Jato's data covers 28 European countries.
"Although the difference between the two brands' monthly sales totals may be small, the implications are enormous," said Felipe Munoz, global analyst at JATO.
"This is a watershed moment for Europe's car market, particularly when you consider that Tesla has led the European BEV market for years, while BYD only officially began operations beyond Norway and the Netherlands in late 2022," Munoz said.
BYD's growth rate in Europe is even higher if plug-in hybrid electric vehicle (PHEV) models are counted.
BYD, with its extensive and competitive lineup of pure electric vehicles and plug-in hybrids, saw sales increase 359 percent over the same period, Jato said.
BYD's rapid expansion has allowed it to overtake established European auto brands, the report noted.
Notably, BYD has overtaken Tesla in the global BEV market last quarter.
In global BEV sales in the first quarter, BYD was No. 1 with a 15.4 percent share, while Tesla was No. 2 with 12.6 percent, TrendForce, another market research firm, said in a report yesterday.
BYD is introducing more models to Europe, which are expected to further strengthen its position in the BEV market there.
BYD launched the Seagull compact electric vehicle (EV) in Europe yesterday, bringing its single best-selling model to a key overseas market.
The all-electric model, rebranded in Europe as the Dolphin Surf, went on sale in 15 countries on Wednesday and is BYD's 10th model in Europe.
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