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First Post
6 days ago
- Automotive
- First Post
France, Germany, UK…Tesla sales slump across Europe as electric car market surges
Germany's Federal Motor Transport Authority, K.B.A., data shows that registration of new Tesla cars is more than a third of the same month last year, despite being Europe's prime location for car sales read more Tesla to launch its robotaxi services in Austin by June 12. AFP More and more car buyers are becoming wary of Tesla across Europe. Germany has recorded a drop in EV sales for the fifth month in a row, although the country saw an overall increase in electric vehicle purchases. Germany's Federal Motor Transport Authority, K.B.A., data shows that registration of new Tesla cars is more than a third of the same month last year, despite being Europe's prime location for car sales. Elon Musk's Tesla has been witnessing a steep drop in sales, which partly has precedence on his embrace of right-wing ideology. STORY CONTINUES BELOW THIS AD Musk officially backed Germany's far-right AfD party ahead of the country's parliamentary elections. He is also a strong critic of unions, with Tesla having clashed with labour organisations in Scandinavian countries. The Tesla CEO contributed almost $300 million towards re-electing U.S. President Donald Trump and later pushed for the Trump administration to reduce the size of federal agencies. This sparked protests at Tesla dealerships throughout Europe. Other EV makers boom in Germany It's not like car buyers in Germany have given up on electric vehicles altogether. Sales of China's BYD cards, Tesla's main rival, have grown ninefold in Germany. The company took Tesla's title as the world's largest EV seller earlier this year. The company has been rapidly expanding into European markets, with plans to establish local production at its plants in Hungary and Turkey to counter the EU's higher tariffs on Chinese-made EV imports. Additionally, BYD intends to raise up to $5.2 billion through a share sale in Hong Kong to support its global expansion, according to a source familiar with the deal. Tesla sales plunge in other countries The Musk-run company has been losing customers in other European countries, too. Tesla's new car sales in Britain tumbled more than 45 per cent from a year earlier in May, preliminary data from research group New AutoMotive showed on Wednesday. The automaker sold 1,758 units in Britain last month, down from 3,244 a year earlier, the data showed. Sales in France dropped by 67 per cent, in Spain by 29 per cent and in Sweden by 53 per cent. However, Norway remains a rare bright spot, with sales tripling thanks to the revamped Model Y. Why have Tesla's sales dropped? Analysts attribute Tesla's struggles to growing competition from Chinese brands, EU tariffs on Chinese EVs, and consumer backlash against CEO Elon Musk's political affiliations and activism in Europe. Musk downplayed the issue, calling the European market 'quite weak,' but data shows rising EV adoption overall, suggesting Tesla is losing market share rather than the market shrinking. Tesla's Berlin Gigafactory supplies Europe but has faced production retooling delays and market headwinds, contributing to the sales slump.
New York Times
6 days ago
- Automotive
- New York Times
Germans Are Buying More Electric Cars, but Not Teslas
Tesla sales in Germany dropped in May for the fifth month in a row, as demand for the electric vehicle maker continued to slide across much of Europe, despite Elon Musk's efforts to turn his focus away from his U.S. government activities and back to his companies. Registrations of new Tesla cars in Germany, Europe's largest car market, dropped more than a third compared with the same month last year, data released from the country's Federal Motor Transport Authority, K.B.A., showed on Tuesday. Tesla sales in other European countries have also remained depressed, falling more than 67 percent in France and 29 percent in Spain in May. Only Norway stood out as an exception, with Tesla selling 2,600 cars in May, more than triple the number sold in the same month last year. Sales were led by deliveries of Tesla's newly revamped version of its most popular vehicle, the Model Y. In neighboring Sweden, Volkswagen sold nearly twice as many of its latest electric model, the ID.7, as the new Model Y from Tesla, whose overall sales in the country dropped 53 percent. Mr. Musk has tried to downplay the extent of Tesla's losses in Europe, telling Bloomberg News in an interview at the Qatar Economic Forum that although it was the region where the brand faces its greatest challenges, 'The European car market is quite weak.' But data from European markets does not support that claim. In Germany, sales of battery-powered cars grew nearly 45 percent in May, compared with the year prior. In Spain, overall sales of electric cars grew 72 percent, while Tesla sales slid 19 percent. In Germany, demand for BYD, Tesla's main E.V. rival, rose ninefold, the strongest showing of an electric vehicle producer from China. The company, which overtook Tesla as the world's top seller of electric cars earlier this year, has been making inroads in Europe, despite facing tariffs of 17 percent imposed by the European Union in 2024. Although Mr. Musk has left his role at the White House, Tesla sales have been affected by his foray into politics. In April, the company reported that its vehicle sales fell 13 percent in the first quarter from a year earlier, as profit plunged to its lowest level in four years. The company has been hurt by protests against Mr. Musk's support for President Trump and several far-right parties in France, Germany and Italy.
