Tesla Inc. (NASDAQ:TSLA) experienced a sharp decline in vehicle sales in Germany during May, according to data released by the German Federal Motor Transport Authority (KBA). The electric car maker’s sales dropped by 36.2% compared to the same month last year, with just 1,210 units sold.
Contrasting Tesla’s downturn, the German electric vehicle sector as a whole showed robust expansion. New EV registrations jumped by 44.9% in May, reflecting increasing consumer adoption of electric mobility across the country.
Meanwhile, Chinese automaker BYD demonstrated remarkable growth, with its sales in Germany soaring nearly nine times over the same period last year. BYD sold 1,857 vehicles in May, surpassing Tesla’s figures and signaling a notable shift in buyer preferences within the German EV market.
This surge in BYD’s popularity highlights changing dynamics in Germany’s electric vehicle landscape, as competition intensifies and new players gain traction among environmentally conscious consumers.