The latest data shows Tesla experiencing sales decline in the U.S. and Europe, while overall EV demand grows. Competitors' new models are attracting more customers amidst uncertainty about incentives and OEMs' future plans.
Tesla's market share in Europe's BEV market dropped from 19.8% to 17.2% in 2024. Volkswagen and Tesla faced declines, with Geely Group and BMW Group gaining ground. Chinese brands, like BYD, also saw growth.
In the U.S., Tesla's sales dropped from 324,900 to 299,200 units in 2024, leading to a reduced market share from 59.8% to 51.2%. Despite the decline, Tesla remains a significant player in the American market.
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