Tesla misses out on European EV growth as Model Y fails to revive sales
Tesla's sales in Europe fell 49 per cent in April from a year earlier, even though battery-electric car sales rose 27.8 per cent , as the U.S. EV maker's upgrade of its Model Y shows little sign of reviving the brand's fortunes in the region.
Overall car sales in Europe dipped 0.3 per cent , with the strongest growth coming from electric and plug-in hybrid cars, data from the European Automobile Manufacturers Association (ACEA) showed.
Why It's Important
Tesla's European sales fell for the fourth straight month, as a backlash against CEO Elon Musk's political views combined with a tepid reception for the new Model Y and heightened competition from European and Chinese players.
Tesla's European market share dropped to just 0.7 per cent from 1.3 per cent a year ago.
European carmakers are striving to cut costs amid stiff competition, U.S. tariffs on auto imports, and a slowing global economy, with the outlook uncertain despite eased U.S.-China trade tensions.
By The Numbers
April sales in the European Union, Britain and the European Free Trade Association fell to 1.07 million cars, following 2.8 per cent growth in March, the ACEA data showed.
Registrations at Chinese state-owned SAIC Motor and Japan's Mitsubishi rose 24.5 per cent and 22.1 per cent respectively, while they fell 24.5 per cent at Japan's Mazda.
In the EU alone - not including Britain and the EFTA - total car sales have fallen 1.2 per cent so far this year.
That is despite continued growth in demand for EVs, with registrations of battery-electric (BEV), plug-in hybrid (PHEV) and hybrid-electric (HEV) cars rising 26.4 per cent , 7.8 per cent and 20.8 per cent respectively.
EV sales in the bloc - whether BEV, HEV or PHEV - accounted for 59.2 per cent of passenger car registrations in April, up from 47.7 per cent in the previous year.
Among the largest EU markets, total car sales in Spain and Italy increased by 7.1 per cent and 2.7 per cent respectively, while in France and Germany they dropped by 5.6 per cent and 0.2 per cent .
In Britain, registrations were down 10.4 per cent .
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