Live, rolling coverage of business, economics and financial markets as European data shows electric carmaker’s sales slump continued in June
It is not just British carmakers who are struggling: Tesla’s European sales are down a third this year, as total new car sales across the EU fell by 7% in June.
Tesla’s European sales have slumped 33% during the year so far to 110,000 compared with 165,000 in the first half of 2024, according to new data from the European Automobile Manufacturers Association (ACEA), a lobby group.
The figures suggest that Tesla is still struggling to emerge from a sales rut in Europe, even after releasing its refreshed Model Y.
Elon Musk, whose shares in Tesla have made him the world’s richest man, has also contributed to the decline in sales by backing Europe’s far-right political parties, and briefly allying himself with Donald Trump, who is deeply unpopular across Europe.
