Tesla sales plunge by 49% in Europe

European sales of Tesla electric cars dropped 49 percent in January-February compared with the same period a year earlier, the ACEA manufacturers’ association said Tuesday.

Aging models are one factor behind the plunge so far this year, but e-vehicle clients may also be refusing to buy in protest of Tesla’s billionaire owner Elon Musk since he became a key supporter of US President Donald Trump.

Musk has been leading a vocal and divisive cost-cutting drive at the head of the newly created Department of Government Efficiency (DOGE).

Several Tesla dealerships around the United States have been vandalised in recent weeks and the company’s stock price has plummeted over the past month.

New Tesla registrations in the European Union fell to 19,046 in the first two months of the year, giving the company a market share of just 1.1 percent, the ACEA said.

In February alone, Tesla registrations were down 47 percent at 11,743.

The sales drop came even as overall electric vehicle sales jumped 28.4 percent over the first two months of this year to 255,489 — for an EU market share of 15.2 percent.

But for ACEA director general Sigrid de Vries, “The latest new car registration figures confirm that market demand for battery electric vehicles remains below the level needed for the transition to zero-emission mobility to progress.”

She cited a need for tax and purchasing incentives for clients and investments in recharging stations, at a time when the EU is preparing to ease emission reduction targets for struggling European automakers.

Hybrid-electric vehicles continued to be the biggest market segment in the first two months of the year, rising to 594,059 registrations — for a 35.2 percent market share.

That outpaced both petrol and diesel models, with market shares of 29.1 percent and 9.7 percent in February.

AFP