Tesla Slips

Tesla Slips

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Tesla's sales in Europe plummeted by 49% in April compared to the previous year, marking a continued decline for the fourth consecutive month. This downturn occurs despite a general rise in battery-electric vehicle sales across the region, which increased by 27.8%. The company's market share in Europe has nearly halved, dropping from 1.3% to 0.7%, indicating a significant loss of consumer interest amid growing competition, particularly from Chinese automakers.

Overall car sales in Europe remained relatively stable, with a slight decrease of 0.3%. However, the electric vehicle segment, including battery-electric and hybrid models, saw substantial growth, accounting for 59.2% of passenger car registrations. This trend highlights a shift in consumer preferences towards more affordable and diverse electric vehicle options, further challenging Tesla's position in the market.

Why it matters

Tesla's declining sales in Europe reflect increasing competition and changing consumer preferences in the EV market.

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