- Market demand for Tesla EVs in Europe could be building a bottom after it suffered only a 28% drop in May, the best monthly performance it has seen since the start of the year. Nonetheless its share of the overall EV market dropped to 7.2%, down more than five percentage points for the month a year earlier, amid a 27% increase in total industry EV volumes across the continent. Norway has emerged as a crucial pillar of support for Tesla in recent weeks.
Tesla’s market share in Europe shrank again last month, but pockets of strength in countries like Norway suggest demand is bottoming out and the worst could be over just in time for the Elon Musk–led EV maker’s quarterly business update.
