Etiqueta: France

Europe's embattled car brands unveil a flurry of new models at the IAA Mobility conference, seeking to counter robust competition from China.

The current crisis affecting the European automotive industry is an acute threat to Europe’s economic future. Will a summit between the auto sector and Ursula von der Leyen on Friday provide a life-line?

Chinese automotive giant BYD has established a significant foothold in Europe's commercial vehicle market, leveraging its electric bus expertise while expanding into freight transport as the continent accelerates its transition to zero-emission transportation.

Tesla's sales in key European markets have declined for eight straight months, with sharp drops in France (47.3%), Sweden (84%), and Denmark (42%), amid rising competition from BYD and an aging product lineup. Consumer backlash against Elon Musk exacerbates the slump, threatening Tesla's global position despite gains in Norway and Spain.

Year-to-date, 1,011,903 new battery-electric cars were registered, capturing 15.6% of the EU market share,  an increase from the low baseline of 12.5% in July 2024.

EVs and hybrids gain traction, but China's BYD edges out Tesla for market share

Tesla's troubles across the pond in Europe are worsening. Per the European Automobile Manufacturers' Association, Tesla EV registrations (a proxy for sales) in Europe fell to just 8,837 units in July, a 40.2% drop compared to a year ago. Meanwhile, overall EV registrations in the region, which includes the UK and the European Free Trade Association, rose 33.6% in July, with overall registrations up 5.9%.

The electric carmaker sold 40 per cent fewer cars year on year in July in Europe, the UK and Scandinavia

The slowdown comes despite strong growth in Europe’s EV market, where battery-electric registrations jumped 24% this year.

Tesla's European Market Woes and BYD's Ascendancy: A Strategic Shift in the Global EV Landscape