Tesla, the U.S. electric vehicle giant, has faced a significant decline in sales across several European countries. In January, the company saw its sales figures plummet, with France experiencing a staggering 63% drop.
According to data from the research organization New AutoMotive, Tesla’s sales in the United Kingdom fell by nearly 12%, despite overall monthly EV registrations reaching a record high. Other European markets also witnessed substantial declines: Sweden reported a 44% decrease, Norway 38%, and the Netherlands 42%.
One of the key factors behind Tesla’s declining sales is increasing competition from other electric vehicle manufacturers introducing newer models. Additionally, Tesla CEO Elon Musk has come under growing criticism in Europe due to his public support for far-right political parties, which may have influenced consumer sentiment.
Global Tesla Deliveries Decline for the First Time
Beyond Europe, Tesla’s global deliveries also declined last year for the first time. Rising interest rates and fierce competition from both Chinese and European automakers contributed to this trend.
Even in California, Tesla’s largest market in the U.S., where over 1.7 million vehicles were registered last year, the company’s sales fell by 12% in January. Analysts suggest that, in addition to intense market competition and high borrowing costs, Musk’s political involvement in U.S. elections may have played a role in dampening demand.