Tesla sales decline slows in March 2025
- Tesla's global sales decline, which was sharp in January 2025 (-15%) and especially in February 2025 (-33%), slowed in March 2025 (-13%) but remains significant. For the first three months of 2025, Tesla's global sales are expected to decline by 20%, compared to a decline of 24% at the end of February 2025 and 15% at the end of January 2025.
- It is difficult to know what part of the decline in Tesla sales over the past three months is due to Elon Musk's political stances, his active participation in the Trump administration and what part is due to the transition between the old Model Y models and the new restyled Model Y which appeared in recent weeks on the various markets. But what is sure is that there was an “Elon Musc” effect.
- Tesla's sales level is failing to recover in some European countries in March 2025, such as Belgium, Denmark, France, Hungary, Ireland, Italy, Luxembourg, the Netherlands and Switzerland, i.e. in a good number of European countries. On the other hand, the situation is improving in China (-11% of sales in March 2025 compared to -49% in February 2025) and it is stabilizing in the United States (at -5% of sales).
- The results remain very poor for Tesla, however, as the global electric has recovered in the first quarter of 2025 (+34% according to current Inovev estimates) and its competitor BYD saw its sales increase by 58% over this period compared to the first quarter of 2024, going from 624,000 vehicles sold to 986,000 units. If we take into account BEVs alone, BYD saw its sales reach 416,000 units in the first quarter of 2025 while Tesla did not exceed 360,000 units.