Tesla's sales in Europe continue to nosedive, with new car registrations dropping 40% year-over-year in July to 8,837 vehicles, according to figures from the European Automobile Manufacturers Association, per CNBC. This marks the seventh month in a row of declining European sales for the US automaker, even as the continent's overall demand for battery electric vehicles continues to rise. Meanwhile, Chinese electric vehicle maker BYD is moving in the opposite direction. It registered 13,503 new vehicles in July—more than triple its number from a year earlier—underscoring its rapid expansion across Europe. Chinese manufacturers now claim over 5% of the region's market share—a record.
Several factors are working against Tesla. Analysts say the company faces fierce competition from both established European brands and a wave of new entrants from China. BYD now has 1.2% market share, compared to 0.8% for Tesla, per the Guardian. Additionally, Tesla has not refreshed its lineup in some time, leaving its vehicles looking dated next to flashier or more affordable alternatives. The brand's image has also taken a hit through CEO Elon Musk's ties to the Trump administration. Tesla has acknowledged the rough patch. After the company's auto sales revenue fell last quarter, Musk cautioned investors that more challenging quarters may follow. Tesla is betting on a new, lower-cost model slated for launch in late 2025 to revive its momentum.
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