Tesla has faced a significant decline in its vehicle sales across Europe, reporting a 40.5% drop in June with only 8,729 vehicles sold. This decline in sales reduced its market share from 1.6% to 0.9%. Factors influencing Tesla's slump include CEO Elon Musk's political engagements, an aging vehicle lineup, and intensified competition from rivals, particularly BYD. Despite the downturn for Tesla, overall electric vehicle sales grew by 25%, highlighting a rising demand for electric cars within the EU. The company hopes the upcoming release of its updated Model Y will help recover its sales.
Tesla's sales in Europe have dropped by 40.5%, raising concerns about its decreasing market share amid rising overall electric vehicle demand.
Elon Musk's political controversies and competition from companies like BYD are contributing factors to Tesla's sales decline in Europe.
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