Electric vehicle (EV) adoption in Europe is increasing. One would expect that Tesla would be one of the biggest winners of such news. But the company’s sales are falling across most of its key markets.

Tesla emerged empty handed after Europe's new car market for EVs surged by 37% in January. Its sales plummeted 45% across the EU, Norway, Switzerland and the U.K., leading to its share shriveling to just 6% from 15% just 12 months earlier.

Tesla dealerships across the continent and the U.S. have been the object of protests and vandalism; consumers are also expressing their displeasure with their pocket books. The company's sales in Europe declined 50 percent in January year-over-year, data from car lobby ACEA shows.

Shares in electric car maker Tesla have slumped more than 9% after EU and UK sales fell by almost half in January. The drop in Tesla shares took the company's valuation back below $1trn for the first time since November 2024. Tesla has been facing stiff competition in the European market from Chinese and other manufacturers.

One of several ways in which Tesla generates revenue is by selling emissions, or carbon credits, to other manufacturers. Tesla gets credit from a governing body (the EU, in this case) for every electric car it sells.

Sales of Tesla vehicles tumbled 45% in Europe last month, even as the overall EV market picked up in the region. The stock closed 8% lower on Tuesday.

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For the past two months, tech billionaire Elon Musk has promoted Germany’s far-right party in at least two dozen posts on his X platform, interviewed its leader, and told his 219 million followers it was the country’s “only hope.

Tesla sales are falling around the world as Elon Musk ties himself to Trump and other right-wing groups. Credit: Dominika Zarzycka/NurPhoto via Getty Images Of all Elon Musk's companies, the most ...

Elon Musk-led EV giant Tesla’s sales in the European Union (EU) is plummeting. The Cybertruck maker’s shares dipped below $1 trillion amid a sales slump in Europe.

The European Commission has decided to give automakers breathing room in achieving its zero-emission target, which is going to enable them to buy fewer emission credits from Tesla and other all ...