Gross sales of recent Tesla vehicles slumped in Europe final month within the newest indication of a possible purchaser backlash over Elon Musk’s excessive profile and controversial behaviour since changing into a number one determine in Donald Trump’s administration.
The Texas-based electrical carmaker offered lower than 16,000 automobiles throughout Europe final month, down 44% on common throughout 25 international locations within the EU, the UK, Norway and Switzerland, based on knowledge compiled by the analysis platform Jato Dynamics.
Tesla’s market share fell to 9.6% final month, the bottom it has registered in February for 5 years. In January, its gross sales throughout Europe fell 45%, from 18,161 in 2024 to 9,945.
Nonetheless, within the UK the Society of Motor Producers and Merchants reported an virtually 21% rise within the variety of new Tesla vehicles registered in February, with the Mannequin 3 and Mannequin Y proving the second and third hottest after the Mini Cooper.
Analysts and traders have been trying to evaluate what impression Musk’s political interventions are having on the carmaker, the place he’s chief govt, amid indicators that his senior position in Trump’s administration is resulting in a client backlash by some Tesla homeowners or potential consumers. Tesla dealerships have additionally been the goal of protests.
The tech billionaire and shut Trump adviser has proven help for Germany’s far-right AfD get together, theatrically brandished a “chainsaw of democracy” at a conservative convention, and accused Keir Starmer and different senior politicians of overlaying up the scandal about grooming gangs.
Nonetheless, analysts have stated that the unstable gross sales are additionally more likely to have been affected by Tesla’s overhaul of the Mannequin Y.
Felipe Muñoz, a worldwide analyst at Jato Dynamics, stated: “Tesla is experiencing a interval of immense change. Along with Elon Musk’s more and more lively position in politics and the elevated competitors it’s dealing with inside the EV market, the model is phasing out the prevailing model of the Mannequin Y – its bestselling car – earlier than it rolls out the replace.
“Manufacturers like Tesla, which have a comparatively restricted mannequin lineup, are significantly susceptible to registration declines when endeavor a mannequin changeover.”
The analysis firm’s figures for February present that Tesla’s rivals powered forward in Europe final month.
Volkswagen reported a 180% improve in gross sales of battery electrical automobiles to only beneath 20,000, whereas BMW and Mini offered a mixed 19,000 such fashions final month.
The Chinese language-owned BYD recorded a 94% improve in gross sales in Europe to greater than 4,000. Separate figures present that BYD’s world gross sales topped $100bn (£83bn) final yr, overtaking Tesla because the world’s largest electrical automotive firm by income.
after publication promotion
BYD, which final beat Tesla on world annual revenues in 2018, reported revenues of 777bn yuan (£86bn) in 2024, a 29% year-on-year improve, beating analyst estimates. Tesla reported annual revenues of $97.7bn final yr.
BYD additionally sells about the identical variety of electrical automobiles as Tesla – 1.76m in contrast with 1.79m respectively in 2024. Nonetheless, when gross sales of BYD’s different hybrid vehicles are included it’s a lot bigger.
Polestar, which is primarily owned by Volvo’s mother or father firm, Geely, recorded an 84% improve to greater than 2,000 automobiles.
BYD offered 4.27m automobiles final yr, virtually as many because the 4.5m offered by Ford, and has forecast that it’ll promote between 5m and 6m this yr. The Hong Kong-listed firm has a market worth of about $160bn, up about 50% thus far this yr. Tesla is valued at $780bn regardless of a share-price plunge of greater than a 3rd in 2025. Tesla shares opened up 6% on Monday as the broader Nasdaq index rose almost 2%.
Whole automotive gross sales in throughout the 25 EU markets, the UK, Norway and Switzerland dropped by 3% to 970,000 in February, whereas BEV registrations had been up by 1 / 4.
Supply hyperlink
