Tesla's European Sales Decline as Chinese EVs Gain Market Share
Tesla's car sales in Europe declined for the fifth consecutive month in May, dropping 27.9% year-on-year, as consumers shift towards cheaper Chinese electric vehicles, which are gaining market share despite EU tariffs. Tesla's market share fell to 1.2%, and the company faces increasing competition from Chinese automakers like BYD, while also dealing with reputational challenges and internal controversies. Shares have declined over 15% this year.
