Tesla Inc. Followed up its worst sales month in years in France with another weak showing in February, prolonging its early-year slump in one of Europe’s biggest markets for electric vehicles.
The company registered 2,395 cars last month, down 26% from a year ago, according to French industry association Plateforme Automobile. Tesla’s decline compares with a 0.7% drop in total industry sales.
Tesla is off to a slow start to the year in part due to the changeover of its most popular vehicle, the Model Y, to a new design. Cranking out an updated version of the sport utility vehicle requires a weeks-long pause in output to update production lines, which likely is costing the company sales.
Investors also are concerned that Tesla is bearing the brunt of retaliation against Elon Musk, who’s increasingly asserting himself in global politics as one of US President Donald Trump’s top advisers. Consumers have protested the Tesla CEO at dozens of the company’s stores and several of its showrooms have been vandalized in recent weeks.
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Tesla’s registrations plunged 63% to 1,141 cars in January, its lowest total in France since August 2022, and also declined in key markets including the UK and Germany. Its sales across Europe fell 45%, in stark contrast with the 37% jump in overall EV registrations.