Tesla UK Car Sales Fall Over 45% in May, New AutoMotive Data Shows

Tesla, Inc. (NASDAQ:TSLA) new car sales in the UK dropped by over 45% in May compared to the previous year, according to early data from New AutoMotive.

Tesla UK Car Sales Fall Over 45% in May, New AutoMotive Data Shows

The company sold 1,758 vehicles last month, down from 3,244 the year before. This decline comes amid Tesla, Inc. (NASDAQ:TSLA) losing market share, partly due to CEO Elon Musk’s support of far-right politics in Europe.

Despite the drop, Tesla remains the top-selling battery electric vehicle in the UK for the year so far.

Meanwhile, overall new car registrations in the UK rose 4.3% to 144,098 units in May, with battery electric vehicle sales up 28% year-over-year. Chinese competitor BYD more than doubled its UK sales to 1,388 cars in May.

It was also reported earlier that Tesla, Inc. (NASDAQ:TSLA)’s new car sales in Sweden fell 53.7% in May to 503 vehicles, according to Mobility Sweden data.

Despite the drop in sales, the stock has surged by over 95% in the past 12 months.

While we acknowledge the potential of TSLA to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TSLA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: Why These Energy Stocks Are Gaining This Week and 10 Best Income Stocks to Invest in Now

Disclosure. None.