American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Tesla loses market share in Europe as Volkswagen and BMW dominate EV sales

by admin March 24, 2025
March 24, 2025
Tesla loses market share in Europe as Volkswagen and BMW dominate EV sales

Tesla’s electric vehicle (EV) sales in Europe slumped in February, falling behind legacy automakers Volkswagen and BMW, as well as Chinese rivals, according to data from research firm JATO Dynamics.

The sharp drop comes amid intensifying competition in the European EV market and potential consumer backlash over CEO Elon Musk’s political endorsements.

JATO Dynamics reported that Tesla’s battery-electric vehicle (BEV) registrations in 25 European Union markets, the UK, Norway, and Switzerland fell by 44% year-over-year to under 16,000 cars.

Tesla’s market share in the region dropped to 9.6%, its lowest February reading in five years.

In contrast, Volkswagen’s BEV sales surged 180% to nearly 20,000 cars, while BMW and its Mini brand combined sold almost 19,000 EVs.

Chinese manufacturers also made inroads, with BYD and Polestar registering year-over-year increases of 94% and 84%, respectively.

Political backlash and market shifts weigh on Tesla

Tesla’s declining performance in Europe coincides with growing scrutiny over Elon Musk’s political activity.

The billionaire has been vocal in his support for former US President Donald Trump and has also endorsed far-right parties in Europe, including Germany’s Alternative für Deutschland (AfD).

Musk has posted at least two dozen messages on his X platform in support of AfD, a move that has drawn criticism from European leaders and customers alike.

Musk’s role in politics, rising competition in the EV market and the phasing out of the existing version of its best-selling vehicle, the Model Y, have all impacted sales, Felipe Munoz, Global Analyst at JATO Dynamics, said in a report.

Polestar CEO Michael Lohscheller recently acknowledged the shifting sentiment, stating that his company was actively targeting Tesla owners who were disillusioned by Musk’s political involvement.

“We get a lot of people writing that they don’t like all this,” Lohscheller told Bloomberg.

A lot of people have very, very negative sentiment.

Matthias Schmidt, a Germany-based automotive analyst, told Business Insider last month that he expected Musk’s political involvements to eventually have an impact on Tesla’s European sales, and said rivals like Polestar would likely reap the benefit of disgruntled Tesla owners ditching their vehicles.

Model Y phase-out and growing competition

Beyond political factors, Tesla is also facing headwinds due to the phasing out of the current version of its best-selling Model Y.

Munoz noted that brands with a limited model lineup, like Tesla, are particularly vulnerable to registration declines when undergoing a model transition.

Meanwhile, traditional automakers and Chinese EV brands are seizing the opportunity to expand their presence in the European market.

BYD, Polestar, Xpeng, and Leapmotor all recorded rising sales, highlighting a growing shift in consumer preference.

Figures follow January’s dismal show

These latest figures follow Tesla’s dismal show in Europe in January, with sales dropping by almost half, marking one of the worst months for the automaker in recent years.

Germany, Europe’s largest car market, recorded the most significant drop in Tesla sales.

Registrations fell 60% year-over-year to just 1,277 vehicles in January, marking the weakest performance since July 2021, according to Bloomberg.

The latest figures raise concerns about Tesla’s ability to maintain its foothold in Europe as consumer sentiment shifts and competition accelerates.

The post Tesla loses market share in Europe as Volkswagen and BMW dominate EV sales appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
United Airlines hikes lounge fees to $1,400 as loyalty revenue surges to $3.49B
next post
Archer Aviation stock warning: why experts call it ‘an invitation to your funeral’

Related Posts

Vodafone Idea shares soar more than 11% after...

September 23, 2024

Text-to-Game: the new phenomenon sweeping the games industry

October 12, 2024

Southwest to get rid of open seating, offer...

July 27, 2024

Sensex smashes 81K: what’s fueling the unstoppable market...

May 2, 2025

Florida judge tosses out Disney’s lawsuit against Gov....

February 1, 2024

Nifty 50 index analysis ahead of Titan, Vedanta,...

November 4, 2024

What’s at stake as the FTC tries to...

February 29, 2024

Spotify stock price forms W pattern ahead of...

April 28, 2025

Asian markets uneasy amidst Trump’s tariff threats; yen...

November 27, 2024

Indian shares extend losses to fifth day: Nifty...

December 20, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,012)
    • Investing (2,455)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved