Tesla's European Woes See No End, April Sales Crash 49% As Rivals Race Ahead In EV Market
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Tesla's sales in Europe plummeted 49% year-over-year in April, with only 7,261 units sold, down from 14,228 last year. The company's market share dropped from 1.3% to 0.7%, while Battery Electric Vehicles (BEVs) increased their share from 12% to 15.3%. Tesla faces declining demand globally, with sales at a two-year low in the UK and Germany. In contrast, rival BYD Co. Ltd. has seen a surge in sales, surpassing Tesla for the first time in Europe. However, Tesla's sales in China have improved, with over 11,000 new registrations in May.
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