It's a 5th Bad Month in Europe for Tesla

Tesla's rough run in Europe continues: The EV maker's sales in the region fell for the fifth straight month in May, dropping 27.9% year-over-year to just under 14,000 vehicles, per ACEA data cited by CNBC. That puts Tesla's market share at 1.2%, down from 1.8% a year ago. The picture worsens when you take a broader view: Reuters reports EV sales in Europe shot up 27.2% last month. EVs made up 15% of all new car sales in May, versus 12% the year prior, according to AFP. European car sales overall ticked up 1.9% in May.

So what's behind Tesla's slide? It's an echo of the past few months. Analysts point to everything from an aging model lineup, competition—especially from Chinese makers—and consumer backlash over Elon Musk's headline-making politics. The company's revamped Model Y hasn't moved the needle yet, Reuters notes. Chinese automakers are gaining steam despite new EU tariffs. They sold nearly 66,000 EVs in Europe last month, doubling their market share to about 6%, per data cited by JATO Dynamics.