Tesla held the electric vehicle crown for a decade worldwide, but BYD passed Tesla in global sales over the past year. BYD's leading position in China and its expansion into Asia and parts of Europe fueled rapid growth. July European registrations show BYD sales rose 225% to 13,503 while Tesla sales fell 40% to 8,837, with battery-electric market share at 15.6% YTD. Tesla's EU declines coincide with political endorsements by Elon Musk that have damaged Tesla's brand and sales. Tesla has also seen sales declines in China and the United States and a 13% stock drop year-to-date.
Tesla Inc. ( NASDAQ: TSLA) held the electric vehicle (EV) crown for a decade worldwide. In the past year, China's EV giant BYD passed it in global sales. Being the number one EV maker in the world's largest EV market helped BYD's success. And Elon Musk's political issues, which have damaged Tesla's brand and sales, also helped. BYD has begun to expand into other markets, including Asia and parts of Europe.
BYD beating out Tesla as the top EV company in July highlights its success in the EU. The race was not even close. Tesla's sales fell 40% year over year to 8,837, while BYD's sales rose 225% to 13,503. The numbers are based on car registrations provided by the European Automobile Manufacturers Association. It also reported, "The battery-electric car market share for July 2025 YTD stood at 15.6%, still far from where it needs to be at this point in the transition."
Musk has continued to pitch Tesla as a robotics and artificial intelligence company. Tesla is testing fully self-driving cars in the U.S., with the goal of leading the entire industry in this technology. Its current robotics product is the Optimus humanoid. Whether it can succeed as a mass market product remains to be seen. Tesla has a market capitalization of $1.13 trillion, making it the 10th most valuable company in the world.
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