BYD's EV Sales in Europe Surpass Tesla for the First Time

BYD Company Limited BYDDY surpassed Tesla, Inc. TSLA in electric vehicle (EV) sales in Europe for the first time in April, overtaking the long-time market leader in the region. Per Jato Dynamics, BYD registered 7,231 new battery-electric vehicles (BEVs) last month, up 169% from the same time last year, earning it a spot among the top 10 EV brands in Europe. Tesla registered a drop of 49%, placing it one spot back.

Tesla sales continued to drop even after Europe’s EV market continued to expand. The overall registrations rose 28% industrywide in April. Volkswagen’s EV sales rose 61%, while its subsidiary Skoda more than tripled its electric car registrations.

BYD’s lead over Tesla was even more pronounced when plug-in hybrid sales were factored in. The Chinese automaker’s total sales in Europe surged 359% year over year in April.

Initially, BYD and other Chinese brands had focused solely on fully electric cars in Europe to meet the region’s ambitious targets to minimize tailpipe emissions and transition the industry away from internal combustion engines. However, that strategy shifted after the European Union raised tariffs on Chinese EVs last year, after concluding that substantial government support from Beijing had given Chinese companies an unfair competitive edge. BYD and its Chinese peers have started selling more plug-in hybrids in Europe.

BYD plans to expand its European EV offerings with the Dolphin Surf, an affordable electric hatchback, priced under €23,000. The model standard version with a range of 220 kilometers will sell for €19,990 in Germany until the end of June, rising to €22,990 thereafter. A slightly larger version of its Seagull model, the Dolphin Surf includes high-end features like a rotating touchscreen, keyless entry and advanced cruise control. It’s positioned to compete with models, such as Renault’s R5 and Stellantis Citroën’s ë-C3.

BYD’s Zacks Rank & Key Picks

BYDDY carries a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the auto space are Ferrari N.V. RACE and Strattec Security Corporation STRT, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for RACE’s 2025 sales and earnings implies year-over-year growth of 12.37% and 4.8%, respectively. EPS estimates for 2025 and 2026 have improved 30 cents and 36 cents, respectively, in the past 30 days.

The Zacks Consensus Estimate for STRT’s fiscal 2025 sales and earnings implies year-over-year growth of 3.49% and 8.11%, respectively. EPS estimates for fiscal 2025 and 2026 have improved 73 cents and 91 cents, respectively, in the past 30 days.

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This article originally published on Zacks Investment Research (zacks.com).

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Source Zacks-com