Data released today, Tuesday, by the research group New AutoMotive showed a sharp decline in new Tesla car sales in the UK during April, with a year-on-year drop of 62%, marking the lowest level in over two years.
This decline comes at a time when sales of Tesla’s electric vehicles also dropped to their lowest levels in several other major European markets last month. The company is preparing to face increasing competition from European and Chinese electric vehicle brands by launching an updated version of its Model Y.
In an unusual turn this year, the UK saw a drop in Tesla sales, with the company selling only 536 new cars in April, compared to 1404 cars in the same month of 2024. This led to a decrease in Tesla's market share in the UK electric vehicle sector to 9.3% since the beginning of the year.
Tesla estimates that deliveries of the updated Model Y will begin in June, but actual sales data may take two months to show whether the new version has succeeded in winning back customers.
It is worth noting that Elon Musk's close relationship with former President Donald Trump and his adoption of some far-right views in Europe have led to protests and vandalism targeting the company and its products both in the United States and Europe.
After announcing first-quarter results that fell short of expectations, Musk stated that he would reduce the time dedicated to Trump-related affairs and focus more on Tesla management.
Overall, battery electric vehicle registrations in the UK rose by 6.9% in April, although this growth slowed compared to the previous month due to the general economic conditions.
In contrast, sales of Volkswagen electric cars in the UK jumped by 194% to 2314 vehicles, while registrations of Chinese BYD cars increased by 311% to 1419 vehicles.
In terms of trading, Tesla's stock (NASDAQ: TSLA) fell by 1.77% in pre-market trading after closing down 2.42% yesterday at levels of $280.
