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Investing.com-- Tesla’s European sales nearly halved in October, while Chinese rival BYD outsold the firm and also clinched a greater market share in the region.
Tesla Inc (NASDAQ:TSLA) registered 6,964 new cars in the European Union, Euro free trade region, and the UK, in October, down 48.5% year-on-year, data from the European Automobile Manufacturers Association (ACEA) showed on Tuesday.
Tesla’s market share in the region slumped to 0.6% in October from 1.3% a year earlier.
In contrast, Chinese EV maker BYD Co Ltd(HK:1211) sold 17,470 vehicles in the region in October, up 206.8% year-on-year. The firm also gained a greater market share, at 1.6%.
Overall car sales in October grew 4.9% to 1.09 million units, with hybrid electric vehicles remaining the biggest portion of the market. BYD has an edge over Tesla in that it also sells the popular class of vehicles, in addition to its battery EV offerings.
Hybrid EV sales grew 7.5% in October to 373,171 units.
Tesla’s sales in Europe have steadily fallen so far in 2025, with Tuesday’s data also indicating a weak start to the fourth quarter. Heightened competition, along with continued objections over CEO Elon Musk’s political affiliations chipped away at sales this year.
Tesla’s recent overhaul of its lineup, which includes new low-cost versions of its Model Y and Model 3, also did little to stimulate demand. The company is also facing sales headwinds in other major markets, especially China.
BYD, on the other hand has rapidly increased its international expansion efforts, with sales to Europe continuing despite the bloc imposing steep import taxes on Chinese EVs in 2024. But BYD somewhat sidestepped said tariffs with its plug-in hybrid offerings.