Tesla’s electric vehicle sales in Europe have taken a significant hit, plunging by 49% in the first two months of this year compared to the same period last year. This decline occurs even as the overall market for electric vehicles (EVs) sees growth, indicated by the European Automobile Manufacturers’ Association.
Critics attribute Tesla’s slump to an aging model lineup and discontent with CEO Elon Musk’s political affiliations. Musk’s recent support for Germany’s far-right Alternative for Germany (AfD) party during the national elections has drawn considerable criticism within Europe. His connections to the Trump administration have also sparked backlash, leading to protests against Tesla vehicles and dealerships in both Europe and the U.S.
The company now faces fierce competition from traditional automakers expanding their EV production. Chinese manufacturer BYD recently reported impressive financial results, revealing a record revenue of 777.1 billion yuan (approximately $107 billion) for 2024, thanks in part to a 40% increase in sales of its electric and hybrid models. BYD has also introduced an ultra-fast EV charging system that rivals the speed of filling up at a gas station.
Tesla’s sales numbers for January and February fell to 19,046 units, down from 37,311 in the same months of 2024. This drop comes amid a broader increase of 28.4% in sales of battery-electric cars across Europe.
In response to Musk’s political stance, German politicians and various media outlets have voiced strong disapproval. Meanwhile, Tesla is grappling with declining sales globally. The company recently reported its first annual sales decrease in over 12 years. Compounding these difficulties, the new Cybertruck has been plagued by multiple recalls, including one last week affecting nearly all units due to loose panels that can detach during driving.
With rising competition and ongoing challenges, Tesla’s future sales will be closely watched as they navigate these turbulent waters.
