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Tesla Sales Are Tanking In Europe

Eleven months into 2024, Tesla is seeing a double-digit decrease in registrations.

Tesla Sales Chart Downward Graph

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Iulian Dnistran Iulian Dnistran

By: Iulian Dnistran

Dec 20, 2024 at 4:15am ET

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Europe is experiencing some weird times. From politics to economy and car sales, it’s far from rosy, and arguably the biggest player in the electric vehicle game is having a rough year.

Eleven months into 2024, Tesla recorded a double-digit decrease in registrations, according to the European Automobile Manufacturers’ Association (ACEA), which released official figures for November.

To be clear, Tesla is still one of the largest EV manufacturers in Europe and the United States, but its grip is weakening on the other side of the Atlantic. Last month, Tesla recorded a 40.9% decrease in registrations in the European Union compared to the same month last year. The number of registrations went from 31,810 in November 2023 to 18,786 last month, marking a decrease in market share from 3.6% to 2.2%.

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Year-to-date, Tesla had 211,405 registrations in the EU, 15.2% fewer than last year’s 249,265 units.

It’s a similar story when the European Free Trade Association members and the United Kingdom are included in the mix. EFTA members include Iceland, Liechtenstein, Norway and Switzerland. On these markets, Tesla registrations went down 28.4% in November, from 36,563 units last year to 26,191 units this year, which made the American automaker’s market share go down from 3.4% to 2.5%.

Year-to-date, Tesla registrations in the EU, EFTA and UK went down 13.7% from 327,635 units in 2023 to 282,692 units this year, while the market share shrunk from 2.8% to 2.4%. In the EU alone, which has 27 member states, Tesla’s market share went down from 2.6% in the first 11 months of last year to 2.2% this year.

ACEA registration figures for November 2024 in the EU, EFTA and UK

The automaker’s losses can be attributed to a number of factors, including the increasingly controversial attitude of its CEO, Elon Musk, and the decrease in government incentives. Some European states have reduced the amount of money offered toward the purchase of a new EV, while others have eliminated the incentives altogether.

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That said, Tesla’s significant drop in European registrations has largely left the EV industry unaffected. Considering the sheer volume of electric cars sold by Tesla, EV registrations as a whole only went down by 1.4% in the EU, EFTA and UK from January to November and they actually went up 0.9% in November compared to last year. In the EU alone, EV registrations went down 5.4% year-to-date and 9.5% in November.

This can only mean one thing: other automakers have stepped up to try and fill the gap left by Tesla, and customers are following suit.

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