Tesla sales plummet in Europe despite EV growth
According to a report released on Tuesday by the European Automobile Manufacturers’ Association (ACEA), new Tesla registrations in the European Union dropped from 37, 000 in the same period of the year to 19 046 in the first two months of the year.
The lobby group noted that Elon Musk’s political controversy and the United States-based EV manufacturer struggle to keep up with competitors.
Tesla’s market share dropped from 2.1 percent to 1.1 percent as a result of its struggles.
Tesla registrations alone accounted for 1.8 percent of the overall market and 10.1 percent of the battery-electric vehicle market, down from 2. 8 and 21.6 percent, respectively, for the same month last year.
As traditional automakers and new Chinese manufacturers introduce more affordable and less expensive EVs, the US company’s aging models are thought to be a contributing factor to the decline.
Elon Musk, CEO, has also received criticism for supporting far-right organizations in Europe with his words and money. His involvement in President Donald Trump’s administration, which threatens Europe with trade wars, is also viewed as a contributing factor.
Tesla-related protests are becoming more prevalent in the EU and abroad, with dealerships being vandalized and the stock price of Tesla significantly dropping.
Slowly traveling
EV sales in the EU increased by 28.4% between January and February, but there is concern that this segment needs more support.
According to ACEA Director General Sigrid de Vries, the demand for TVs “is still below the level required for the advancement of zero-emission mobility.”
He advocated for more investment in recharging stations as well as tax and purchasing incentives for consumers. Meanwhile, Brussels is working to reduce its carbon footprint.
Hybrid-electric vehicles managed to gain 594 registrations, or 35.2% of the market, in the first two months of the year, making them the most significant market segment.
Source: Aljazeera
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