Tesla's European Sales Plummet as Local EV Competitors Gain Ground
Tesla's sales have taken a significant dip in several European countries, while locally manufactured electric vehicles like the Renault R5 E-Tech and Citroën ë-C3 gain traction, boosted by government subsidies.
In Portugal and Spain, Tesla's sales plummeted by 38.16% and 16.09% respectively. Italy bucked the trend with a mere 1.39% decrease. The Netherlands saw a steep drop of 53.91%, from 8,299 to 3,825 units. Meanwhile, Spain's electric mobility market grew, registering 76,688 electric vehicle registrations between January and May, with a market share of 14.98%.
France offers incentives of up to 6,000 euros for electric models priced below 47,000 euros. This, coupled with the increasing preference for 'Made in France' models in cities like Lyon and Toulouse, has led to a rise in domestic brands like Renault and Citroën, coinciding with Tesla's sales decrease. In Germany, Tesla reported a 60.42% decline in the first quarter, selling 5,820 units compared to 14,705 in the previous year.
Tesla's sales decline in Europe is notable, with Portugal, Spain, the Netherlands, and France seeing significant drops. Meanwhile, locally manufactured models like the Renault R5 E-Tech and Citroën ë-C3, supported by government subsidies, are gaining momentum. The preference for local models is evident in France, with domestic brands like Renault and Citroën benefiting from this trend.
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