Tesla (TSLA, Financial) experienced a significant 49% drop in April sales in the European market compared to the previous year. This decline occurred despite a 27.8% increase in overall sales of battery electric vehicles (BEVs) across Europe during the same period. The revamped Model Y failed to boost Tesla's brand image in Europe effectively.
According to data from the European Automobile Manufacturers Association (ACEA), overall car sales in Europe remained nearly flat, with a slight decrease of 0.3% compared to the previous year. The strongest growth was observed in BEVs and plug-in hybrid models. In the European Union, the UK, and the European Free Trade Association (EFTA) regions, new car registrations fell to 1.07 million units, marking a notable slowdown from the 2.8% growth seen in the previous month.
