Tesla’s European Sales Fall Nearly 50% In October As BYD Soars Over 200% — EVs Make Up Over 16% Of EU Market

Tesla Inc.‘s (NASDAQ:TSLA) poor European sales run continues as the Elon Musk-led EV giant logs another decline in the region during October.

Tesla Sales Fell Over 48.5%

The EV giant recorded 6,964 new registrations during October in the region, a 48.5% year-on-year decline from October 2024’s 13,519 registrations in the region, data released by the European Automobile Manufacturers Association (ACEA) showed on Tuesday.

Tesla’s YTD registrations in the region clocked in at 180,688 units from January to October, a 29.6% decline from last year’s 256,495 units it sold in the first ten months of the year.

The data comes as Tesla’s sales in Europe fell by over 36% in multiple key markets in Europe, like Austria, Finland, Spain and more. The company’s sales also fell in China, where the automaker hit a three-year low in October.

BYD Continues Surge

Meanwhile, Tesla rival BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) continued its surge in the region, clocking over 17,470 units sold in the region, a 206.8% jump from last year’s October total of 5,695 units.

BYD’s YTD sales from January to October showcased an even higher jump at 285% compared to the same period last year, as the Chinese EV giant recorded 138,390 registrations in the region thus far. The company now plans to bring its Japanese ‘Kei’ car to the European market pending regulatory approval for the E-car class in the region.

The European region, in total, also recorded a growth in EV adoption, with YTD sales from January to October clocking in at 2,022,173 units, constituting a 26.2% surge from last year’s 1,602,342 units. Within the European Union, the battery-electric car (BEV) market share reached 16.4% YTD.

Tesla’s FSD Europe Expansion

Tesla has been teasing an expansion of its Full Self-Driving (FSD) technology in the European region, targeting a February 2026 launch. Auto safety regulator RWD (Netherlands Vehicle Authority) also confirmed the launch timeline, but refused to divulge details about the automaker’s application.

Tesla scores well on Momentum and Quality metrics, while offering satisfactory Growth, but poor Value. Tesla also has a favourable price trend in the Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!

Price Action: TSLA surged 6.82% to $417.78 at market close, but declined 0.76% to $414.60 during Pre-Market trading, according to Benzinga Pro data.

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