Tesla's sales in Europe experienced a sharp decline in October, dropping by 48.5% year-over-year, according to data from the European Automobile Manufacturers Association. The company registered 6,964 new cars in the European Union, the Euro free trade region, and the UK, causing its market share to fall to 0.6% from 1.3% a year prior. In stark contrast, Chinese electric vehicle manufacturer BYD saw its sales in the region soar by 206.8% year-on-year, selling 17,470 vehicles. This surge allowed BYD to surpass Tesla in sales and capture a larger market share of 1.6%. The report suggests that heightened competition is a key factor contributing to Tesla's sales headwinds in the region.
Tesla's European Sales Plunge Nearly 50% in October as Chinese Rival BYD Surges
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