This article first appeared on GuruFocus.
Tesla (NASDAQ:TSLA) Europe registrations nearly halved in October, falling 48.5% to 6,964 units.
In contrast, Chinese rival BYD (1211) sold 17,470 cars in the region in October, up about 207% year-on-year, lifting its market share to roughly 1.6% while Tesla’s share slipped to 0.6%.
Overall passenger car registrations rose 4.9% to about 1.09 million units, with hybrid electric vehicles remaining the largest segment.
Market observers say BYD’s broader model range, including plug-in hybrids, has helped it sidestep some tariff pressure and win buyers across Europe.
Analysts add Tesla’s weak European momentum reflects tougher competition and consumer headwinds tied to CEO Elon Musk’s public profile.
The outcome demonstrates the potential of the rapid EV market in Europe to turn within a short time. Dealers and investors will continue monitoring the question of whether the BYD boom will continue to last to Q4 and whether Tesla will be capable of stabilizing demand with new product variations.
Regulators will watch production plans and tariffs as local manufacturing and pricing strategies could reshape European EV competition next year.