Tesla's European Market Share Declines Amidst Overall EV Growth

Tesla's European market share weakened in February, with sales down 42.6% year-over-year. While Tesla's sales declined, overall battery-electric vehicle (BEV) sales in Europe surged by 26.1%. Tesla accounted for 1.8% of the total car market and 10.3% of the BEV segment in February, a drop from the previous year. Competition from established automakers and new entrants from China is intensifying. Tesla sold fewer than 17,000 vehicles in the EU, Britain, and EFTA countries, down from over 28,000 in February 2024.