European Auto Industry In Turmoil As Tesla Continues To Lose Market Share - CleanTechnica

Tesla’s market share in Europe has declined for six consecutive months, with June deliveries dropping 22.9% year-on-year to 34,781 vehicles amid a broader 5.1% decline in new car sales across the continent. The decline is attributed to increased competition from a growing number of electric vehicle (EV) models, particularly from Chinese manufacturers like BYD, Leapmotor, and Xpeng, whose market share nearly doubled to 5.1% in the first half of the year. Tesla’s brand image has also suffered due to controversial actions by CEO Elon Musk, and despite a refreshed Model Y produced in Germany and a Chinese-made Model 3, the company’s core models are aging and have not generated the expected sales boost. Analysts highlight that Tesla is facing significant challenges, including the loss of income from U.S. regulatory credits and slower growth compared to the overall EV market in Europe. Musk’s focus appears divided among various ventures beyond Tesla, raising concerns about the company’s