Tesla's sales in Europe are falling, while the electric vehicle market grows

Tesla's sales in Europe fell by 49% in April compared to the same period last year. The decline occurred despite a 27.8% increase in battery-electric vehicle sales across Europe. Tesla's refresh of its Model Y model failed to attract enough interest to boost the brand's growth in the region.

According to data from the European Automobile Manufacturers' Association (ACEA), while total car sales across Europe fell by 0.3%, electric and plug-in hybrid vehicles showed the strongest growth.

Tesla's market share in Europe dropped from 1.3% a year ago to 0.7%. This decline has been compounded by backlash against CEO Elon Musk's political views and increasing competition from European and Chinese rivals. European automakers are attempting to cut costs due to customs duties imposed by the US on car imports and a slowing global economy.

According to ACEA data, sales in the European Union, the UK, and the European Free Trade Association (EFTA) fell to 1.07 million vehicles in April, following a 2.8% growth in March.

Registrations for battery-electric (BEV), plug-in hybrid (PHEV), and hybrid electric (HEV) vehicles increased by 26.4%, 7.8%, and 20.8%, respectively. However, total car sales in the EU, excluding the UK and EFTA, fell by 1.2% this year.

Electric vehicle sales accounted for 59.2% of passenger car registrations in April, compared to 47.7% the previous year.

News Source: 12punto