Tesla Sales Decline in Europe Despite EV Growth

Tesla's sales in Europe decreased in May, despite the growth of the electric vehicle market. According to industry data, battery electric vehicle sales increased by 25% in Europe in May compared to last year, as announced by ACEA.

However, Tesla sold 40.2% fewer cars in May. The decrease in demand is attributed to competition from European and Chinese companies, as well as consumer reactions regarding Elon Musk's relationship with the Trump Administration.

During the first five months of 2024, Tesla's sales decreased by 45.2% compared to the same period last year, with its market share falling to 1.1% from 2%. Despite Tesla's decline, overall electric vehicle sales in Europe increased by 26.1% in the first five months of the year, representing 15.4% of total car sales in May, up from 12.1% last year.

ACEA chief Sigrid de Vries stated that the market share of electric vehicles is still far from expected. The EU aims to end the sale of new internal combustion engine cars by 2035, but high prices and a lack of charging infrastructure are creating problems for consumers.

Source: ΚΥΠΕ