Summary
Tesla’s European market share is declining sharply, with EU registrations dropping 40.9% in November 2024 compared to last year, and year-to-date registrations down 15.2%.
Including the UK and EFTA, Tesla’s registrations fell 13.7% this year.
The drop stems from reduced government EV incentives and growing dissatisfaction with CEO Elon Musk.
Despite Tesla’s decline, overall EV registrations in Europe have remained stable as competing automakers gain ground. Tesla remains the largest EV producer in Europe but faces growing pressure from rivals capitalizing on its waning dominance.
Somehow investors will spin this as a positive thing and share price will go up still lol
I’m not sure they can spin their way out of this one. The number of new car manufacturers that are spinning up in the last ten years compared to the fifty before it is mind blowing.
I see Tesla getting swallowed whole in a very competitive market in the next twenty years. Their early mover advantage is all but erased.
Edit: and the European manufacturers are catching up fast. I heard the new Renault is a super little car. There will always be some bias to buying European in Europe (as I’m sure is the case with other places, but Tesla had genuine caché for a while). That God awful cyber tank thing will never sell well here.
I hope so!