Tesla's sales in Europe fell for the second consecutive month in February, amid the electric car maker's failure to catch the trend of rising electric car sales on the continent, the Financial Times reports, UNN writes.
Details
Billionaire Elon Musk's company sold 16,888 cars in Europe in February, down 40 percent from the 28,182 sold in the same month of 2024, according to the European Automobile Manufacturers Association.
Tesla's sales decline came amid a 26 percent increase in battery electric car sales in February compared to last year, EAMA said. Its data covers the EU, Great Britain, Iceland, Liechtenstein, Norway and Switzerland.
Tesla's share of the European market fell to 1.8 percent in February from 2.8 percent a year earlier.
Continuing sharp decline in January, registrations of new Tesla cars in February fell by 76 percent compared to last year in Germany, by 48 percent in Norway and by 26 percent in France.
The total number of new car registrations decreased by 3 percent since the beginning of the year, compared to the same period in 2024, with the largest decrease observed in Germany, France and Italy.
Addition
The reduction in Tesla's market share followed Musk's unprecedented intrusion into European politics, where he supported the far-right Alternative for Germany party ahead of elections in the country in February, the publication notes.
Analysts also link the drop in Tesla's sales to the aging of its product portfolio, amid consumers waiting for the release of its updated Model Y this year.