Tesla continued to lose significant market share in Europe in October, according to new industry data showing that the continent’s switch to electric vehicles remains sluggish despite rising climate targets.
Across the European Union, Tesla sales fell 48% in October, dropping from 10,800 vehicles a year ago to 5,600. For the first ten months of 2024, the company’s EU sales declined 39% year-on-year to 117,000. In wider Europe — including the UK and Norway, both early adopters of zero-emission technology — Tesla also posted a 48% monthly drop to just under 7,000 vehicles. Year-to-date sales across the broader region are down nearly 30% at 180,000.
Tesla’s market share has likewise deteriorated sharply. A year ago, the automaker held 2.4% of Europe’s 10.8 million new car sales. That share has now fallen to 1.6%, even as the total market has expanded by around 200,000 vehicles to more than 11 million.
The company does not comment on monthly sales, but has previously attributed recent weakness to a delayed rollout of the updated Model Y, its bestselling vehicle in Europe. Analysts, however, say Tesla is also facing escalating pressure from Chinese manufacturers offering comparable models at lower prices.
BYD, China’s largest electric automaker, outsold Tesla in Europe by more than two to one in October. While BYD sells both electric and petrol vehicles, its total European sales for the first ten months reached 138,000 — narrowing the gap with Tesla to just over 40,000 units.
Industry observers also point to potential reputational damage linked to Tesla CEO Elon Musk, whose political interventions and social media activity they say may be alienating some buyers in both private and fleet markets.
Despite Tesla’s downturn, the broader electric vehicle market remains stuck in low gear. Battery-electric cars accounted for 16.4% of new European sales so far this year — progress, but still short of what industry leaders say is necessary for the region’s climate transition. “The battery-electric car market share… is still below the pace needed at this stage of the transition,” the European carmakers’ association ACEA said.
The UK remains Europe’s second-largest EV market, with sales up 29% year-on-year to 386,000, representing 22% of total car purchases. Germany leads the continent, with electric sales rising nearly 40% to 434,000, though that still represents only 18% of its market following a slump tied to the end of state subsidies.
