Chinese automaker BYD has dramatically unseated Tesla as the top-selling electric vehicle brand in Portugal for October, signaling intensifying global competition in a rapidly expanding market.
BYD sold 459 new electric cars in October. This marked a significant 82.1% increase in sales compared to the same month last year.
In stark contrast, Tesla, which was the market leader in September with more than 1,200 registrations, saw its sales plummet. The American automaker sold only 144 units in October.
This sharp decline represents a 58.7% decrease from the previous year. It pushed Tesla down to 10th position in the monthly sales ranking.
These figures, released by the Portuguese Automobile Association (ACAP), highlight the volatile nature of the fast-growing electric vehicle sector.
Despite Tesla’s monthly dip, the overall Portuguese electric car market remains robust. A total of 4,618 new all-electric cars were registered in October.
This total represents a 32.5% increase compared to the same month last year. The trend indicates that Portuguese consumers are increasingly adopting electric vehicles.
Other European brands benefited from Tesla’s sales slide. BMW sold 403 units, while Peugeot sold 320, placing them second and third respectively, behind BYD.
For the year to date, from January to October, Tesla still holds the lead in cumulative sales with 5,953 vehicles.
However, BYD is rapidly closing the gap. It has sold 3,832 units year-to-date and is experiencing a year-on-year growth rate exceeding 132%, posing a significant threat to Tesla’s annual dominance.