ICYMI - Tesla sales plummet in UK and Europe as EV market turns hostile

Tesla's sales data from November indicates a significant decline in both the UK and broader Europe. In the UK, Tesla registrations fell 19% year-on-year to approximately 3,800 vehicles, as revealed by both New AutoMotive and the Society of Motor Manufacturers and Traders (SMMT). The decrease was even steeper in France, where sales plunged nearly 60%, and around 20% in Germany. Although Norway showed some demand, the overall scenario is challenging. The decline is attributed to intensified competition from Chinese manufacturers, notably with BYD registrations tripling in the UK in November. Consumers now have access to over 150 electric vehicle models, significantly undermining Tesla’s first-mover advantage. Additionally, Tesla faces issues with an aging product lineup, even while introducing updated versions of the Model Y. The overall automotive market is also cooling, with new car registrations declining and increased interest in plug-in hybrids. Collectively, the November figures reinforce the perspective that Europe and the UK present a tougher operating environment for Tesla, showcasing stagnated demand growth and ongoing competitive pressures impacting the company’s sales performance across the region.