Tesla's Market Position Wanes Amidst European Electric Vehicle Surge

Tesla's market share in Europe declined in February, with fewer sales despite an increase in overall electric vehicle registrations. As competition intensifies, challenges mount for Tesla, including an aging lineup and political controversies involving CEO Elon Musk.

Tesla's presence in the European market has significantly diminished, according to February figures. Despite an uptick in electric vehicle registrations, Tesla experienced a dip in sales for the second consecutive month. The European Automobile Manufacturers Association (ACEA) reports a 42.6% decrease in Tesla sales through February.

The electric vehicle giant, commanded just 1.8% of the total automobile market during February, compared to 2.8% the prior year. Likewise, it captured a reduced 10.3% share of the battery-electric vehicle (BEV) market, down from the previous year's 21.6%.

Tesla faces mounting challenges, primarily due to increased competition from traditional automakers and new entrants, particularly those originating from China. CEO Elon Musk's controversial political associations further hinder Tesla's market standing, exacerbating its sales struggle in the region.

(With inputs from agencies.)