The facelifted Model Y has failed to keep Tesla's sales up. Data shows that they have shrunk by 45 percent in Europe.
Tesla's sales in Europe have seen better days. Much better. At a time when Elon Musk is urging his employees to hold onto shares, sales are plummeting by 45 percent.
This is what Autocar writes based on data from Jato Dynamics.
The decline is the most significant for Tesla in a very long time. In fact, we have to go back a full five years to find a time when Tesla had less of a market share than it does now.
According to Jato, the decline can be attributed to two things in particular. Namely, Tesla itself has scaled back as the factory in Berlin was converted to production of the new Model Y.
And then the fact that competitors have become sharper and have therefore caught up with much of the lead that Tesla enjoyed for a very long time.
During January, which is the period Jato Dynamics has calculated, 45 percent of Tesla's sales from January 2024 have disappeared.
In total, Tesla sold just under 10,000 passenger cars to Europeans in the first month of 2024. But the decline – although it looks dramatic – is not that big after all.
"It is not unusual for sales to drop just before a new generation or updated model is introduced to the market, as the brand reduces production of the existing model to adjust," says analyst Felipe Munoz.
This is likely what Tesla is experiencing, as they are rolling out the updated version of the Model Y, where they will likely see sales increase again.
It's not in all markets that drivers have turned their backs on Tesla. In both England and Ireland, sales have increased by 20 percent.
And in Norway, Tesla is once again topping the sales charts. According to Norwegian TV2, this suggests that despite Tesla CEO Elon Musk's involvement in everything from American to international politics, 'it is still far too early to write off the brand'.
