Tesla sales, market share dip in EU while other EV makers grow
Tesla's new EU registrations dropped by 7.2% in June and 12% in the first half of the year, reducing its EV market share to 10.8%. Other automakers like BMW and Mercedes-Benz maintained or increased their market share. Challenges include lack of new models, reduced subsidies, and market shifts towards hybrid vehicles.
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In June, Tesla's new vehicle registrations in the EU decreased by 7.2% compared to the previous year, with a 12% drop in registrations for the first half of the year. This decline led to a decrease in Tesla's EV market share from 11.6% to 10.8%. Meanwhile, other European automakers like BMW, Mercedes-Benz, and Volvo either maintained or increased their market share in the EV sector. Factors contributing to Tesla's struggles in Europe include a lack of new model releases, reduced EV subsidies in countries like Germany and France, and ongoing issues such as strikes in Sweden and an alleged arson attack in Germany. The overall EV market in the EU and UK saw a slight decrease in battery-electric vehicle sales but an increase in hybrid electric vehicle sales. These trends suggest a shift towards hybrid vehicles as a more flexible alternative to pure electric vehicles. Despite these challenges, Tesla did not respond to inquiries regarding their recent performance in the European market.
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2 commentsExcept many people around here extrapolated growth from a low base off into the next decade. "50% EV market share! Every car company will disappear!"
Now it's clearly leveling off.
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