Tesla’s (TSLA.O) new vehicle sales in Britain dropped by 62 percent compared to last year in April, reaching their lowest point in more than two years. This decline occurred despite an overall increase in demand for electric cars, according to data released by the research firm New AutoMotive on Tuesday.
Billionaire Elon Musk’s electric vehicle sales dropped to their lowest levels in several years across various major European markets recently, according to national statistics released last week. This comes as Tesla plans to tackle competition from both European and Chinese EV manufacturers by unveiling an updated Model Y.
The UK defied the pessimistic outlook seen across Europe for Tesla this year; however, in April, the company only managed to sell 536 new vehicles in Britain, compared to 1,404 during the same period last year. This brought the brand’s electric vehicle market share so far this year down to 9.3 percent.
Tesla’s British website indicates that the anticipated delivery of the redesigned Model Y is set to begin in June. However, it may be several months before sales figures reveal whether the improved model has managed to regain customer favor.
Musk’s proximity to U.S. President Donald Trump and his support for extreme right-wing policies in Europe have resulted in demonstrations against both him and the company. This has also led to acts of vandalism at Tesla showrooms and charging stations throughout the United States and Europe.
Following the brand’s underwhelming performance in the first quarter, with both global sales and profits falling short of expectations, Musk announced two weeks ago that he planned to reduce his involvement with the Trump administration and instead dedicate more effort to managing the company.
In April, overall registrations of battery-electric cars in Britain rose by 6.9 percent, marking a deceleration compared to the prior month, owing to wider economic factors, according to New AutoMotive.
Volkswagen’s (VOWG.DE) electric vehicle sales in Britain surged 194 percent to 2,314 units last month, whereas BYD from China saw an increase of 311 percent with 1,419 cars registered.
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