Tesla (TSLA.US) sales in Europe surged, but the growth rate lost to Chinese car companies, FSD and Semi relays catalyzed

The Zhitong Finance App notes that Tesla (TSLA.US) registered a sharp increase in European registrations in August and has remained strong so far this year, even though its growth rate has been surpassed by the rapid expansion of Chinese competitors including BYD, Chery, and Zero Run.

Tesla's growth rate in the EU in August was significantly higher than the EU+ European Free Trade Association (EFTA) + UK. Within the EU alone, Tesla registered 12,547 vehicles in August, a year-on-year increase of 52.7%, and its market share rose from 1.2% to 1.8%.

As of August, registrations jumped 65.9% to 142,165 vehicles, bringing Tesla's market share to 1.9%, up from 1.2% last year.

Within the wider European Union, the European Free Trade Association (EFTA), and the UK, Tesla's growth rate in August was much slower, at only 4%, registered 15,430 vehicles, and the market share remained unchanged at 1.9%. The number of registrations increased by 43.3% from January to August to 191,787 vehicles, and the share increased from 1.5% to 2.1%.

BYD, Chery and Zero Run are growing faster

Meanwhile, as of August, BYD had registered 234,099 vehicles in the wider European region, up 144.1% year over year; Chery's registrations soared 279.7% to 207,871 vehicles. Zero Run saw the biggest increase, with registrations surging 449.9%.

The overall European car market is also expanding. EU registrations increased 5.3% to 7.55 million units; pure electric vehicle registrations jumped 44.9% to 1.64 million units. Electric vehicles account for 21.7% of EU registrations, up from 15.8% last year.

Tesla's FSD push adds another catalyst to Europe

Tesla has been vigorously promoting the expansion of fully automated driving (FSD) in Europe. Earlier this week, it was reported that the Czech Republic became the 7th European market to approve the system, and the automaker is already in touch with the Irish authorities.

France has begun road tests, after Transport Minister Philippe Tabarot (Philippe Tabarot) said in July that although Tesla's autonomous driving system has brought significant technological progress, its safety benefits are not sufficient to prove the rationality of being authorized. A broader European Union-wide approval vote is likely to be held next month.

The market focuses on Tesla Semi events

Tesla is due to unveil its new Semi electric truck manufacturing plant in Sparks, Nevada later Thursday. Just a few weeks ago, Tesla just unveiled a production version of its Cybercab driverless taxi in Austin.

The Nevada plant covers an area of approximately 1.7 million square feet and is expected to eventually have production capacity of up to 50,000 Semi trucks per year.