Tesla loses out as European car sales rises in March

Battery electric vehicle (BEV) sales in Europe rose sharply by 23.6% in March, helping to lift total new car registrations by 2.8% across the region, according to data released by the European Automobile Manufacturers Association (ACEA). The rise in electric vehicle adoption offset declining sales of petrol and diesel cars, underscoring the regions gradual shift toward greener transportation. March saw car sales climb to 1.42 million units in the European Union, Britain, and the European Free Trade Association, breaking a two-month decline. The uptick was driven by strong performances in key markets, with registrations rising by 12.4% in Britain and 23.2% in Spain. Italy also recorded a 6.3% increase, while France and Germany saw declines of 14.5% and 3.9% respectively. While legacy European automakers such as Volkswagen and Renault reported gains of 10.3% and 13.0% respectively, Stellantis saw a 5.9% decline in registrations. Tesla, once a dominant force in the electric vehicle segment, experienced a 28.2% year-on-year drop in sales for the third consecutive month. Its share of the total market fell to 2%, down from 2.9% a year ago, amid rising competition from Chinese automakers and consumer backlash against CEO Elon Musks political stance. Electrified vehicles, including BEVs, hybrid electric vehicles (HEVs), and plug-in hybrids (PHEVs), continued their growth trajectory. Sales of HEVs and PHEVs grew by 23.9% and 12.4% respectively. In the EU alone, despite a 0.2% drop in total car sales year-on-year, electrified vehicles accounted for 59.2% of all passenger car registrations in March, up significantly from 49.1% a year earlier. The positive EV trend comes as the global automotive industry grapples with broader economic and geopolitical challenges. European automakers are contending with rising competition from Chinese firms and struggling to manage high production costs. Meanwhile, escalating trade tensions have clouded the industry outlook. U.S. President Donald Trumps 25% tariffs on auto imports, along with a 145% levy on Chinese goods and retaliatory tariffs from Beijing, have dampened global growth forecasts, posing further risks to automotive companies operating across borders.The post Tesla loses out as European car sales rises in March appeared first on Linda Ikeji Blog.