Tesla (TSLA, Financial) is experiencing a significant decline in sales in the European Union for the third consecutive month, despite an overall increase in demand for electric vehicles in the region. According to the European Automobile Manufacturers Association (ACEA), Tesla's new car registrations dropped by 36% in March to 18,224 units. This follows a 47% decline in February and a 50% drop in January.
In contrast, the EU saw a 17% increase in overall electric vehicle registrations in March. Hybrid vehicle registrations rose by 24%, and plug-in hybrid models saw a 12% increase. This trend highlights the competitive challenges Tesla faces in the growing European EV market.
