Home Stocks UK Tesla Sales Fall in November, New Data Reveals

UK Tesla Sales Fall in November, New Data Reveals

3
0

Tesla’s UK car registrations dropped 19% in November, according to preliminary data released on Thursday by research group New AutoMotive. The decline follows similarly steep drops across several major European markets.

Registrations — often used as a proxy for sales — fell to 3,784 vehicles, down from 4,680 in the same month last year.

Tesla has faced increasing headwinds in Europe. The company recently began rolling out updated versions of its best-selling Model Y SUV, but its overall lineup is aging. Competition has also intensified, especially from fast-growing Chinese brands entering the European market.

British buyers now have more than 150 electric vehicle models to choose from, according to EV guidance platform Electrifying.com.

BYD, Tesla’s major Chinese competitor, saw registrations surge 229% in November, rising to 3,217 units. BYD’s rapid growth includes sales of battery-electric, plug-in hybrid, and hybrid models.

Tesla’s recent performance has also been affected by weakening customer sentiment. Public praise of right-wing political figures by CEO Elon Musk, as well as his brief tenure as head of the U.S. Department of Government Efficiency, has dampened consumer enthusiasm.

The fall in UK registrations mirrors Tesla’s broader European trend. Sales were down 20% in Germany and dropped nearly 60% in France and several other markets. These declines were only partially offset by record Tesla sales in Norway.

Overall, total new car registrations in the UK fell 6.3% in November to 146,780 units, New AutoMotive reported. Battery-electric vehicle registrations slipped 1.1% to 38,742 units, while plug-in hybrid registrations rose 3.8% to 16,526.

($1 = 0.7496 pound)