Overview

• Tesla's sales fell sharply in Europe, with January 2025 registrations down 63% in France, 44% in Sweden, and 38% in Norway, as competition intensifies and public sentiment toward Elon Musk declines.
• In California, Tesla's largest U.S. market, vehicle registrations dropped 12% in 2024, marking the company's first annual decline in the state and its fifth consecutive quarterly registration decrease.
• Rising competition from automakers like BYD, Hyundai, and Ford, as well as the introduction of newer EV models, has eroded Tesla's market share globally, including a 7.6-point drop in California's zero-emission vehicle market share in 2024.
• Elon Musk's political activities, including his support for Donald Trump and controversial statements in Europe, have reportedly alienated some consumers and contributed to Tesla's brand value decline.
• Tesla's aging product lineup, with no major new models since the Model Y, has struggled to compete with fresher offerings from rivals, though the refreshed Model Y is expected to launch in March 2025.