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Tesla’s Europe sales plunge 49% on brand damage, rising competition

  • Tesla sold 7,261 vehicles in Europe in April 2024, marking a 49% year-over-year decline according to ACEA data released Tuesday.
  • This drop followed a combination of intensifying competition from Chinese EV makers like BYD and consumer backlash over CEO Elon Musk's political involvement in Europe.
  • Despite the sales decline, the overall European battery electric vehicle market grew over 15.3% in April, while BYD surpassed Tesla in pure electric car sales for the first time.
  • Tesla’s market share in Europe shrank from 1.3% to 0.7%, and Musk acknowledged that "Europe is our weakest market" but expressed optimism about future sales.
  • The continued European sales drop signals ongoing challenges for Tesla amid a broader expanding EV market and rising rivalry from Chinese manufacturers.
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The Motley Fool broke the news in Alexandria, United States on Sunday, May 25, 2025.
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