BYD beats Tesla in Europe for first time with 169% sales surge

BYD Co sold more electric vehicles in Europe than Tesla Inc for the first time, overtaking the American brand that’s long led the continent’s EV segment, reports Bloomberg.

China’s leading automaker registered 7,231 new battery-electric vehicles in April, according to market researcher Jato Dynamics. That was up 169 per cent from a year earlier, vaulting BYD into the top 10 brands by EV sales. Tesla placed one spot back as its registrations plunged 49 per cent.

“Although the difference between the two car brands’ monthly sales totals may be small, the implications are enormous,” Jato Dynamics analyst Felipe Munoz said in an emailed statement. “This is a watershed moment for Europe’s car market.”

Tesla continued to slump despite accelerating growth in Europe’s EV segment. Registrations rose 28 per cent industrywide, with market leader Volkswagen selling 61 per cent more battery-electric cars in April than a year earlier. Volkswagen AG’s Skoda brand more than tripled its EV registrations.BYD outsold Tesla by an even wider margin when including the carmaker’s plug-in hybrid electric vehicles. The Chinese company’s total sales soared 359 per cent, Jato said.