Tesla Faces 14% Sales Decline in European Market for 2024

Tesla's year-to-date sales in Europe drop significantly as the broader EV market shows mixed performance and rising competition.

Tesla's European sales fell 13.7% year-to-date, with November deliveries down by 28.4% compared to the same month last year.
The broader European EV market declined by 1.4% year-to-date, but excluding Tesla, sales rose by 1.3%, highlighting Tesla's struggles in the region.
Key markets like France and Germany reported significant drops in EV registrations, partly due to reduced government incentives for electric vehicles.
Hybrid vehicles gained traction, with registrations increasing 18.7% year-to-date, surpassing both gasoline and diesel-powered cars in monthly market share.
Tesla faces growing competition from European automakers and Chinese brands, compounded by high production costs and new EU tariffs on Chinese-made cars.