Tesla sees sharp drop in sales in Europe
Feb. 25, 2025 7:57 AM ET
By: Clark Schultz, SA News Editor
Tesla (NASDAQ: TSLA) saw its sales in Europe decline 45% in January from a year ago, according to data from the European Automobile Manufacturers’ Association
The Texas-based carmaker sold 9,945 vehicles in Europe in January, down 45% from last year’s 18,161, according to data from the European Automobile Manufacturers’ Association (ACEA). Tesla’s share of the market dropped to 1.0% from 1.8%.
Overall, new European car registrations declined by -2.6% in January. The bloc’s major markets saw declines, with France (-6.2%), Italy (-5.8%), and Germany (-2.8%) all lower. Spain, conversely, recorded a 5.3% increase. New battery-electric car sales grew by 34% to 124,341 units, capturing a 15% market share, despite the soft month for Tesla (NASDAQ: TSLA).
Notably, Tesla ( TSLA) faced a tough comparison in January to last year when a new Model 3 was launched. It is also probable that some EV buyers are waiting for the refreshed Model Y to be introduced before making a purchase.
The 2025 Model Y, also known as the Juniper refresh, features a sleeker and more aerodynamic profile. The starting price is €60,990 for the all-wheel drive version in Germany. Deliveries are expected to begin in May.
Aside from the Model Y wildcard, some industry insiders have also warned that Elon Musk's strong opinions on German politics, the European Union, and immigration policies could also be a factor in the weakening sales trends on the continent. |
