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BYD beats Tesla in European EV sales despite EU tariffs in 'watershed moment,' report says
CNBCยท 2025-05-23 07:08
Core Insights - BYD has surpassed Tesla in monthly sales of pure battery electric vehicles (BEVs) in Europe for the first time, marking a significant shift in the market dynamics [1][3] - This achievement is described as a "watershed moment" for the European car market, especially considering Tesla's long-standing leadership in the region [3] Sales Performance - BYD's sales volumes in Europe increased by 359% in April compared to the previous year, indicating strong growth as the company expands globally [2] - In contrast, Tesla experienced a 49% decline in total volumes during the same period, following protests against CEO Elon Musk in the region [2] Competitive Landscape - BYD is not only outperforming Tesla but is also outselling established European brands such as Fiat and Seat in markets like France [4] - The growth of BYD is expected to accelerate further with the upcoming production at its new plant in Hungary, which will serve as a hub for European operations [4]