Tesla’s sales plunge 49% in Europe as EV market surges
According to new data, Tesla has still not been able to reverse its sluggish start to the year in Europe. The European Automobile Manufacturers Association (ACEA) reports that the American company's new car registrations dropped by half in April, even though EV sales in the continent grew significantly.
While overall car sales were down by only 0.3 percent, EVs performed 27.8 percent better than April 2024. However, Tesla's fortune was in the opposite direction, as it sold 49 percent fewer cars. The worrying trend continued after the EV maker's sales contracted 50 percent, 47 percent, and 36 percent in January, February, and March, respectively.
Tesla's loss was picked up by Chinese EV brands, which made inroads thanks to competitive pricing. BYD, for instance, finally overtook Tesla in Europe in April, according to numbers from JATA Dynamics. ACEA also showed that SAIC Motor sold more cars than Tesla, with a 24.5 percent growth. Tesla's market share dropped to 0.7 percent, compared to 1.3 percent in April 2024.
Tesla introduced a new version of its best-selling Model Y to Europe in April but that was not enough to return sales to previous levels. The company is facing backlash from its CEO Elon Musk's deep association with the current US administration. However, Musk has announced he will dedicate less time to his role in the government and concentrate more on Tesla and his other companies.
