Tesla sales are falling in EU countries. / Wikipedia
Tesla sales continue to decline sharply in Europe's largest electric vehicle markets, resulting in a significant loss of market share for the company despite overall growth in demand for electric vehicles in the region. The biggest declines were recorded in Sweden, Belgium and France.
This is reported by Delo.ua with reference to the Bloomberg publication.
According to Germany's Federal Motor Transport Authority, Tesla's new car registrations fell by 39% in August and by 56% in the first eight months of the year. The company also saw sharp sales declines in Sweden (-84%), Belgium (-61%), France (-47%) and Denmark (-42%). The only exception was Norway, where Tesla sales rose by 21% in August.
The decline is part of a global trend for Tesla, with deliveries falling 13% in the first half of the year, which could lead to a second straight annual decline. While sales in the U.S. are expected to pick up as tax breaks near the end, weaker demand in Europe and China is holding back overall growth.
Meanwhile, the electric vehicle market in Europe continues to grow. In Germany, for example, electric vehicle registrations rose by 46% in August, the industry-wide. In the first seven months of the year, battery electric vehicle sales across Europe increased by 26%, while Tesla sales fell by 40%.
As a reminder, in July, new car sales in Europe rose by 5.9%, as a jump in Germany outweighed a decline in the UK, France and Italy. Competition between electric car manufacturers is intensifying. Chinese auto giant BYD overtook Tesla in market share for the first time.
