by Decline of Tesla’s Share in the European Market
Over the past year, Tesla’s share of the European electric vehicle market has shrunk to 7.2%. Experts attribute this to antipathy towards Elon Musk and increased competition from other electric car manufacturers. However, in some countries, such as Norway and Spain, Tesla sales have increased significantly thanks to the updated Model Y.
In Norway, Tesla sales in June increased by 54%, and registrations of the new Model Y grew by 115.3% – to 5,004 units. In Spain, Tesla’s total sales volume grew by 60.7%, and the Model Y by 127.2%. However, in other countries, such as Sweden and Denmark, there is a sharp decline in demand for Tesla cars.
Competition and Political Factor
According to Schmidt Automotive, Tesla has recorded a decline in registration volumes in Western Europe for the sixth consecutive quarter. The company’s share of the electric vehicle market in May was only 7.2%, whereas in May 2024 it reached 12.6%. Besides competition from Chinese manufacturers, Tesla sales are influenced by Elon Musk’s political activity, which causes an ambiguous reaction among European consumers.
At the same time, in countries like Portugal, there is a slight increase in sales, but in Italy they fell by 66%. This data indicates that the electric vehicle market in Europe is becoming increasingly dynamic, and Tesla’s success now depends not only on the technical characteristics of the cars but also on external factors, including the political climate and competition.
