Tesla’s (TSLA) presence in Europe’s electric vehicle (EV) market is waning. In April, the company’s new car registrations across the European Union, the UK, and the European Free Trade Association (EFTA) countries fell by 49% year-on-year, totaling 7,261 vehicles. This decline marks the fourth consecutive monthly drop, reducing Tesla’s market share to 0.7% from 1.3% a year earlier.
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This sharp drop stands in stark contrast to the EU’s growing electric vehicle market. Electrified vehicles—comprising battery electric vehicles (BEVs), plug-in hybrids (PHEVs), and hybrid electric vehicles (HEVs)—accounted for 59.2% of passenger car registrations in the EU in April, up from 47.7% the previous year. Registrations grew across the board, with BEVs up 26.4%, PHEVs up 7.8%, and HEVs seeing a 20.8% rise.
Yet Tesla, once synonymous with EV innovation, is now trailing as competitors seize the…
