European figures for November show a clear shift in the dynamics of the electric vehicle market. Sales Tesla $TSLA in the EU, EFTA and the UK fell year-on-year by almost 12% and market share dropped to 2.1%...
Compared to a weak October there was a slight improvement, but the overall trend remains downward. Tesla therefore continues to face in Europe a combination of stronger competition, slower model refresh cycles and reputational impacts associated with Elon Musk.
At the other end of the spectrum stands BYD, which in Europe recorded year-on-year sales growth of more than 220% and is rapidly taking market share. All of this comes in an environment where the overall European car market is growing only modestly and the main drivers are hybrids and electric vehicles. For investors, it’s a clear signal that competitive pressure from China is no longer a theoretical scenario, but a reality that is reflected directly in the numbers.
Is the current development in Europe just a temporary wobble for Tesla before a new model offensive, or are we witnessing the start of a more lasting loss of position in favor of players like BYD? And whom would you trust more in the European EV story?
European data still don't bode well for Tesla. Year-on-year declines in sales and a falling market share indicate a combination of stronger competition, an aging product lineup and worsening brand perception. $BY6.F is also great and, in my view, has greater potential to prove itself.
I believe in the company and still think Tesla is the best carmaker. I also have shares of $BY6.F in my portfolio, so this situation doesn't bother me that much.