NN Online:
Tesla’s electric vehicle sales in Europe dropped by 49 per cent in the first two months of the year compared to the same period last year, despite a growth in overall EV sales, according to the European Automobile Manufacturers’ Association.
There have been complaints about an aging lineup of vehicles from Tesla and also a significant backlash against CEO Elon Musk and his affiliation with the Trump administration in the US. In Europe, Musk’s endorsement of Germany’s far-right Alternative for Germany party in last month’s national election drew broad condemnation.
Tesla faces increasing competition from major automakers as they ramp up EV production, including China’s BYD. On Tuesday, BYD reported a record 777.1 billion yuan ($107 billion) in revenue for 2024 as sales of its electric and hybrid vehicles jumped 40 per cent. Earlier this month, BYD announced an ultra fast EV charging system that it says is nearly as quick as a fill up at the gas pump.
Tesla sales for January and February slumped to 19,046 from 37,311 in the same period in 2024. That comes against the background of a 28.4 per cent increase in sales of all battery-electric cars in Europe.
German politicians and opinion media sharply criticized Musk over his support for the AfD, while Tesla vehicles and dealerships have been the target of protesters in the US and Europe over the AfD endorsement and his role advising US President Donald Trump in drastically reducing the size of the US federal government.
Tesla sales are falling globally, however. The company posted its first annual sales drop in more than a dozen years in January. Tesla’s new Cybertruck has had multiple recalls including last week, when the company recalled nearly all of them because panels that run along the left and right side of the windshield can fly off when driving.
It was the eighth recall of the Cybertruck since deliveries to customers began just over a year ago.
