According to data released by JATO Dynamics, Tesla's electric vehicle (EV) sales in Europe have fallen behind traditional automakers like Volkswagen and BMW, as well as Chinese competitors. The brand, led by Elon Musk, is experiencing challenges in maintaining consumer loyalty in Europe. Contributing factors include Musk's political stance, increased competition in the EV market, and the phasing out of popular models like the Model Y.
JATO Dynamics' global analyst, Felipe Munoz, highlighted that brands with limited product lines, such as Tesla, are particularly vulnerable to sales declines during model transitions. The data revealed a 44% year-over-year drop in Tesla's EV registrations across the EU25, the UK, Norway, and Switzerland, with February sales falling below 16,000 units. Tesla's market share dipped to 9.6%, marking a five-year low for this period.
In contrast, Volkswagen's EV sales surged by 180% to nearly 20,000 units, while BMW, along with its Mini brand, sold approximately 19,000 units. Chinese brands also outperformed Tesla, with BYD and Polestar achieving growth rates of 94% and 84%, respectively, selling over 4,000 and 2,000 units. Xpeng delivered over 1,000 vehicles, and Leapmotor close to 900. However, Volvo and MG, under Geely and SAIC respectively, saw declines in EV sales by 30% and 67%.
The overall European car market slightly decreased by 3% to 970,000 units, yet EV registrations rose by 25%.
