Tesla’s sales in Europe fell by about 45% last month, pushing the company to its lowest market share in five years (1.6%) in February.
This decline means that electric vehicle sales from Chinese-owned brands outperformed those produced by the American company, with 19,800 vehicles sold compared to 15,737, led by Volvo with 6,529.
The decline in Tesla’s sales volume is attributed to increased competition in the electric vehicle market and a slowdown in production of the best-selling Model Y as factories transition to the updated version.
However, another factor that may have influenced this sales decline is the increasing political role played by CEO Elon Musk. It is noteworthy that the recorded decline includes sales of the Tesla brand as a whole, not just the Model Y.
It is worth noting that the sales decline was accompanied by a widespread recall of the Cybertruck, which was affected by problems with the steel support beam.
All of these factors benefit the American company’s competitors, especially Chinese companies, led by BYD.
