In May, Tesla saw a dramatic drop in car sales across Europe, particularly in France where sales plummeted 67% to just 721 units, the lowest since July 2022. Other countries reported similar declines, including Sweden (-54%), Denmark (-31%), and the Netherlands (-36%). This downturn reflects both a saturated market filled with used Teslas and increasing competition from established car makers and new Chinese entrants. Additional challenges include an aging fleet and lack of new model introductions, impacting Tesla's performance in a competitive landscape.
Tesla's sales in France were only 721, marking a staggering 67% decline from May 2024, the lowest total since July 2022.
In markets like Sweden and Denmark, Tesla sales experienced significant drops of 54% and 31%, collectively reflecting a concerning trend in the broader European market.
Factors contributing to the decline include Tesla's aging fleet, increased competition from new players, and an oversupply of used Teslas flooding the market.
The drop in Tesla's market share is part of a larger trend, with the company's share in the U.S. falling below 50% for the first time in 2023.
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