Tesla sales plunge 49% in Europe as Elon Musk's firm faces brand crisis, China rival
Tesla's sales in Europe plunged in April as the electric car maker faced backlash over Elon Musk's political work and rising competition from China-based rival BYD.
Tesla sold just 7,261 cars in the region last month – down from 14,228 units sold in the same month one year ago, according to data from the European Automobile Manufacturers Association.
The April sales figures marked the fourth straight month of declines for Tesla in Europe.
Sales have fallen by nearly 39% since the start of the year.
3 Elon Musk has vowed to spend more time at Tesla.
REUTERS
The company's overall market share in Europe fell to 0.7% in April, down from 1.3% year-over-year.
Sales plunged despite a 34.1% jump in annual sales for battery-powered electric vehicles in April.
Despite the poor sales data, Tesla shares were trading nearly 5% higher on Tuesday.
The stock popped days after Musk reiterated in an X post that he was 'back to spending 24/7 at work' and as President Trump said he would postpone planned 50% tariffs on the European Union.
After a dismal quarterly report last month in which Tesla's net income fell 71%, Musk told analysts that his 'time allocation to DOGE will drop significantly' as he spends 'far more of my time at Tesla.'
Musk has also said he expects to lead Tesla for at least the next five years.
Musk-led Tesla had faced a wave of protests and vandalism incidents at dealerships in response to the billionaire's controversial work with President Trump and the Department of Government Efficiency.
Musk has since said he is stepping back from DOGE.
3 Elon Musk sparked backlash over his work with President Trump and DOGE.
David Mirzoeff / Led By Donkeys / SWNS
Tesla's slump also coincides with an ongoing surge in sales for Chinese EV maker BYD, which topped Musk's firm in European sales for the first time in April, according to separate data compiled by research firm Jato Dynamics.
BYD's sales jumped 169% in Europe year-over-year.
BYD also leapfrogged Tesla this year while surpassing $100 billion in overall sales and doubled its profits to $1.3 billion in the first quarter.
The Chinese firm sells its cheapest available cars for less than $10,000 and offers a mix of plug-in hybrids and battery-powered EVs.
3 Tesla has faced a wave of protests.
Getty Images
Tesla, meanwhile, typically sells at a higher price point and only offers battery-powered EVs.
Analysts have pointed to other concerns at Tesla, including the company's aging car lineup.
Meanwhile, Musk has touted Tesla's plans to roll out self-driving taxis and 'Optimus' humanoid robots as key to the company's long-term strategy.
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