In November, Tesla's car registrations in the European Union fell to 12,130, a significant decrease from 18,430 the previous month, marking a decline of nearly one-third. This drop has caused the company's market share to diminish from 2.1% to 1.4%, as reported by the European Automobile Manufacturers’ Association.
Amid Tesla's downturn, Chinese manufacturers such as BYD have experienced remarkable success, with their registrations nearly tripling to 42,500 vehicles. Similarly, SAIC, the owner of the MG brand, reported a 26% increase in sales, reaching 217,000 units.
The rise in hybrid vehicle sales, which accounted for 44% of all sales, coincides with a lobbying effort by European automakers to relax electric car sales targets. Recent changes from the EU now permit 10% of car sales to involve internal combustion engines post-2035, despite battery electric vehicles still claiming 18.8% of the market, an increase from 15% last year.