Summary
Tesla’s European market share is declining sharply, with EU registrations dropping 40.9% in November 2024 compared to last year, and year-to-date registrations down 15.2%.
Including the UK and EFTA, Tesla’s registrations fell 13.7% this year.
The drop stems from reduced government EV incentives and growing dissatisfaction with CEO Elon Musk.
Despite Tesla’s decline, overall EV registrations in Europe have remained stable as competing automakers gain ground. Tesla remains the largest EV producer in Europe but faces growing pressure from rivals capitalizing on its waning dominance.
But this is hitting EVERY ev carmaker in Europe. Germany ended its subsides to ev this December.
This has obviously impacted sales. Volkswagen, Volvo, Hyundai. All have been hit.
The only one that was not impacted that much was BMW.
This is nothing to celebrate. Ev adoption on Europe has been dropping steadily.
“overall EV registrations in Europe have remained stable”
Companies like VW are getting raped in China where a substantial amount of their profits come from though due to their current EV positioning and it’s causing them catastrophic problems in the EU. Deiss the old CEO was warning about needing to cut back and refocus because of this and they kicked him out. Now the new CEO is saying the same thing but the delay has made it even worse, and the union, as expected, is fighting it. VW is in serious trouble right now.
Edit: Looks like new news on this yesterday, 35k jobs cut (25% of workforce), but no factory closures, and a reduction in 700k vehicles/y. Also no raises for 4 years.
https://www.reuters.com/business/autos-transportation/rapprochement-between-volkswagen-union-wage-talks-sources-say-2024-12-20/