Tesla's market share in Europe declined sharply in February, with sales dropping by 42.6% year-to-date, amidst a growing electric vehicle market. Compounded by sluggish economic conditions, the company's market share fell to 1.8% overall and 10.3% within the battery-electric vehicle segment. Tesla sold less than 17,000 vehicles in February, a stark decrease compared to over 28,000 from the previous year. Challenges include an aging vehicle lineup and the emergence of cheaper alternatives from traditional and new competitors. Analysts are hopeful for a potential sales rebound with the upcoming launch of the new Model Y SUV.
Tesla's market share in Europe has dropped significantly as sales fell 42.6%, facing rising competition and an economic slowdown.
Tesla sold fewer than 17,000 cars in Europe in February, down from over 28,000 the same month last year.
Musk's associations with far-right parties in Europe may impact Tesla’s sales amid increasing competition and economic challenges.
Market analysts are keen to see how the launch of the new Model Y will influence Tesla’s sales and demand in Europe.
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