Chinese electric vehicle manufacturer BYD sold three times as many new vehicles in the European Union during last month as it did in August 2024, outselling U.S. rival Tesla for the second month running, European car lobby ACEA data revealed on Thursday.
Stellantis reported back into European sales growth for the first time in more than a year, as the broader market grew with a lift from plug-in hybrid (PHEV) and battery-electric (BEV) sales.
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WHY IT’S IMPORTANT
Europe’s battered automotive industry is confronted with headwinds such as U.S. tariffs on imports, Chinese competition and challenges in profitably satisfying local regulations for EV uptake.
Automakers have accelerated sales of PHEVs to meet emissions targets with cheaper, more profitable vehicles than plain EVs. Chinese manufacturers have also applied the technology to reduce the effect of European Union tariffs for Chinese-produced EVs, and to convert China-doubting European drivers.
Chinese electric vehicle producer BYD beats Tesla for second consecutive month
BY THE NUMBERS
European Union, British, and European Free Trade Association sales grew 4.7% to 0.8 million vehicles in August, ACEA statistics indicated.
Retail at Volkswagen and Renault grew 4.8% and 7.8% from the prior year, respectively, and increased 2.2% at Stellantis, its first growth since February 2024.
Tesla’s sales in the EU fell 36.6%, constricting its market share to 1.2% from 2% last year. BYD saw a 201.3% increase in sales to capture 1.3% of the market.
MG-owner SAIC Motor, also Chinese, sold 59.4% more units in August, putting its year-to-date market share at 1.9% and making it the bloc’s tenth top seller this year.
Overall EU automobile sales increased 5.3%. Battery electric, hybrid electric and plug-in hybrid car registrations were up 30.2%, 54.5% and 14.1%, respectively, to share collectively 62.2% of the bloc’s registrations compared to 52.8% in August 2024.
