Tesla's Global Sales Crisis Deepens As BYD's Sales Surge 162% In Europe - Tesla (NASDAQ:TSLA)
Published on March 24, 2026.
Tesla (NASDAQ:TSLA) is experiencing a global sales crisis as Chinese automaker BYD (BYD) increases its sales by 162% year-over-year, surpasses Tesla (TSLA), which is flat in the market year-to-date. BYD plans to introduce 20 branded dealerships in Canada within its first year after Canada reduced its 100% tariff on Chinese-built EVs to 6.1%. Tesla's Canadian sales in 2025 will drop more than 60% to roughly 18,000 units, with General Motors overtaking Tesla as Canada's top-selling EV brand. The broader European BEV market is booming, reaching an 18.8% share through February, up from 15.2%. However, Tesla is losing ground in a rapidly growing market that is growing without the company's presence. The company's political activities have been blamed for costing Tesla over 1 million U.S. sales alone, and this may be worse in Europe where anti-Musk sentiment is high.
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