Tesla Faces Steep Sales Decline in Key Markets
Tesla's global sales dropped sharply in February, particularly in China, where wholesale sales plummeted 49% year-on-year to 30,688 units—its lowest in over two years. The decline is largely due to reduced Model Y production and intensifying competition from domestic brands like BYD, Huawei, Xpeng, and Li Auto, which now dominate 70% of the NEV market. Tesla’s market share fell to 3.9%, down four percentage points from last year.
In Germany, Tesla’s sales collapsed 76% to 1,429 units, while in France, they declined 26% to 2,395 units. The U.S. market has also seen four consecutive months of negative growth, attributed to slower product updates, intensifying competition, and Elon Musk’s controversies.
Analysts suggest that Tesla's challenges stem from aging models, price cuts failing to boost demand, and strong competition from innovative Chinese automakers. The upcoming Model Y refresh could influence Tesla’s global strategy, but its ability to regain market share remains uncertain.
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