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.

  • Tja@programming.devEnglish
    1·
    10 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
      1·
      2 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·
        1 hour 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.