Tesla sales in Europe fell precipitously, although the electric car segment as a whole declined minimally
Tesla is losing ground in Europe. According to the European Automobile Manufacturers Association (ACEA), the company has experienced a significant drop in electric vehicle registrations in the European Union in the first 11 months of 2024.
What do the numbers say?
In November 2024, Tesla registrations in the EU fell 40.9 per cent compared to November 2023: from 31,810 to 18,786 units. Tesla's market share in the EU fell from 3.6 per cent to 2.2 per cent.
In the first 11 months of 2024, the US company has 211,405 new car registrations in the EU, down 15.2% from the same period last year.
Our colleagues at InsideEVs suggest that possible reasons for the drop in Tesla sales could be:
- Reduced government subsidies for electric cars: In many European countries, governments have reduced or completely cancelled financial incentives for the purchase of electric cars.
- Ilon Musk's controversial image: Scandals and bizarre statements by Tesla's CEO may have affected customer loyalty.
Nevertheless, the significant drop in Tesla registrations in Europe has largely left the electric car industry unaffected. In the EU, for example, electric vehicle registrations are down 5.4 per cent YTD and 9.5 per cent in November. If we take the total data for the EU, the UK and the European Free Trade Association (EFTA), the number of electric vehicle registrations as a whole fell by only 1.4 per cent. And they even rose by 0.9 per cent in November
Source: ACEA
