CNBC's Arjun Kharpal discusses why Tesla continues to face challenges in Europe and how Chinese rivals like BYD are gaining share.

Berlin

Tesla's sales in Europe have declined by 40%, coinciding with a surge in market share by Chinese electric vehicle (EV) manufacturers, particularly BYD. Industry observers note that Chinese brands have managed to bring new models to market quickly, offering competitive pricing and advanced technology features that appeal to European consumers.

BYD has emerged as the leading Chinese EV brand in Europe, while other companies such as Xpeng and NIO are also making significant inroads. The rapid pace of innovation and frequent new model launches by these Chinese firms stand in contrast to Tesla's reliance on its existing lineup, which has seen little recent expansion.

Tesla sales plunge 40% in Europe while BYD surges

I remember you, how long ago was it, I had you standing at some, it might have been Shanghai Motor Show or something, and talking about all these amazing Chinese cars that were going to hit the world. How long ago was that? Yeah, that must have been, what, six odd years ago? Something like that. Wow. Tell us, I mean, the evolution has been swifter than even you thought, perhaps. Yeah, I think so. I mean, when I was in China reporting from some of those motor shows, the Chinese EV players were coming out with some very nice-looking cars, and from the very beginning were talking about the technology in the cars, some of the automated driving systems, etc. And what they were able to do is bring these cars to market incredibly quickly, innovate extremely quickly, and what's taken me, I think, by surprise is the speed at which they've managed to expand beyond China. That was always going to be the challenge from a couple of perspectives, one, logistically, but two, also from a branding perspective. Will people in Europe want to buy Chinese cars? And I think BYD has shown that there is a market here for those cars, because they come out with them quickly, the pricing is very, very, very competitive, and they continue to focus on the tech specs. And BYD is the biggest, probably, of the Chinese EV brands out here in Europe, but there continues to be desire from Xpeng, from NIO, and some of these other sort of more startup kind of players to export their cars here, and these are the companies that are iterating very quickly, and you see them launching cars every few months, and it's something that Tesla has struggled with, is they've relied on a stock portion of models that they've released over the last few years, but nothing new.

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