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Tesla’s European Sales Plunge Amid Political Fallout and Rising Competition. Tesla’s car sales in Europe dropped by 40% in February compared to the same month in 2024. Fewer than 17,000 Teslas were sold across the EU, UK, and EFTA, down from over 28,000 a year earlier. Tesla’s European market share fell to 1.8%, compared to 2.8% in February 2024, according to the ACEA. Despite Tesla’s decline, overall battery electric vehicle sales in Europe rose by 26.1% year-on-year. In Germany, Tesla sales fell over 70% in February — the same month as the national election. BYD surpassed Tesla in global annual revenue in 2024, despite EU and US tariffs on Chinese EVs. Tesla is facing pressure from cheaper Chinese rivals, lack of budget-friendly models, and few new releases. Musk’s political activities, including backing Trump and endorsing Germany’s AfD, have sparked boycotts and protests. Tesla shares fell over 50% between December and early March, but rebounded 12% on Monday. Trump has shown public support for Tesla, and new tariffs set for 2 April may exclude the auto sector.
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