Tuesday, 02 January 2024 12:17 GMT

Tesla sales witnesses drop in EU due to Musk’s controversial political positions


(MENAFN) Tesla’s vehicle sales in the European Union fell 36.6% in August compared to the same month last year, according to data released Thursday by the European Automobile Manufacturers’ Association (ACEA).

The US-based electric vehicle company, led by billionaire Elon Musk, sold 8,220 units in the EU in August, down from 12,966 in August 2024. Its market share dropped to 1.2% from 2% year-on-year.

Across Europe—including the EU, the European Free Trade Association, and the UK—Tesla’s sales declined 22.5% to 14,831 units over the same period.

Meanwhile, battery electric vehicle sales surged 30.2% in the EU in August, reaching 120,797 units. Chinese automakers saw a remarkable 121% year-on-year increase in sales to 43,529 units, doubling their market share to 5.5%, according to JATO Dynamics data.

In August, Chinese car brands even outsold Audi and Renault in Europe. “European consumers are responding positively to the growing, competitive line-up from China’s car brands,” said Felipe Munoz, Global Analyst at JATO Dynamics. “It appears that these brands have successfully tackled the perception and awareness issues they have experienced.”

Tesla’s declining performance in Europe has been attributed to Musk’s controversial political positions, his interference in European politics, and the intensifying competition from Chinese manufacturers.

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