Tesla sales in Europe plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now

Europeans still aren’t buying Teslas with figures out Wednesday showing sales plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now.

Tesla sales fell 28% last month in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers’ Association. The poor showing comes after Tesla’s billionaire CEO had promised a “major rebound” was coming last month, adding to a recent buying frenzy among investors.

They were selling on Wednesday, pushing the prices down more than 4% in early afternoon trading.

  • kebab@endlesstalk.orgEnglish
    143·
    24 hours ago

    Sad part is that they’re getting outcompeted by the Chinese EVs, not the European carmakers. The whole money will just fund CCP’s ambitions instead of US ambitions, neither of which is good for European future

    • BenjiRenji@feddit.orgEnglish
      3·
      17 hours ago

      Even European brands like Polestar belong to Chinese companies by a large share. But yes, German car manufacturers were asleep at the wheel and now they even lobby against the combustion engine ban because they would be left with near zero business.

      • TBi@lemmy.worldEnglish
        1·
        1 hour ago

        German car compete too busy fucking over their customers to notice china taking over.

    • Tja@programming.devEnglish
      1·
      15 hours ago

      Do you have numbers? Because Chinese cars are growing by triple digits because they were basically at 0, the numbers I saw recently VW, stellantis, Hyundai, BMW and Mercedes were in the top 10.

      • kebab@endlesstalk.orgEnglish
        2·
        6 hours ago

        Sure! https://www.jato.com/resources/media-and-press-releases/byd-outsells-tesla-in-europe-for-the-first-time-as-registrations-surge-in-april

        Regarding the other brands - some cars, like the very popular Dacia Spring, are not manufactured by Dacia in Europe but 100% by Dongfeng in China.

        The Chinese brands are on the rise and those are not just the relative numbers but the absolute numbers too. The data for Q2 shall be there in a few days, I guess it’s worth to wait for it

        • Tja@programming.devEnglish
          1·
          6 hours ago

          Well, I think it confirms what I said, BYD barely making it to the top 10 with 7k units sold while Volkswagen group has 3 of the top 4 brands (for EVs) with 50k units sold. Plus BMW, Mercedes, Renault and Hyundai groups. Chinese cars are growing by a lot of % because they had a minuscule market share. As of today, they are still a small part of the market, let’s see where they land when they stabilize.

    • Paddzr@lemmy.worldEnglish
      81·
      23 hours ago

      I hate how much BYD pays people off. And they’re suing people in China for “damaging their brand”. I guess so did Tesla that one time, but only one of them runs slave camps (including outside of China).