Pakistan, China and Russia hold informal talks on Afghanistan in Doha
Special envoys from Pakistan, China and Russia held an informal meeting in the Qatari capital on Monday to discuss regional cooperation on Afghanistan...
Tesla's market share in Europe continued its decline in February, according to new data, as sales of the all-electric carmaker dropped for the second consecutive month.
Despite a surge in overall electric vehicle (EV) registrations across the continent, Tesla’s sales were down 42.6% year-on-year, with the company capturing just 1.8% of the total market and 10.3% of the battery electric vehicle (BEV) market, compared to 2.8% and 21.6% in February 2024.
Tesla sold fewer than 17,000 vehicles in the European Union, the UK, and European Free Trade Association countries last month, a significant drop from over 28,000 in the same period the previous year. As competition intensifies, Tesla is grappling with an ageing lineup and increasing pressure from traditional automakers and new entrants, particularly from China, offering cheaper electric models.
Tesla's CEO, Elon Musk, has also faced controversy due to his public support for far-right political parties in Europe, which some analysts believe has contributed to the decline in sales.
Overall, the BEV market saw a strong 26.1% increase in sales compared to February 2024, while total car sales fell 3.1%, according to data from the European Automobile Manufacturers Association (ACEA). The European Union’s new carbon emission targets, set to encourage EV growth, could be impacted by Tesla’s sales slump, although the company has created a pool to sell carbon credits to other automakers to help meet these targets.
Despite Tesla's struggles, the broader EV market in Europe showed significant growth in February, with BEV sales up 23.7%, and hybrid vehicle sales increasing by 19%. Electrified vehicles, including BEVs, hybrid electric vehicles (HEVs), and plug-in hybrids (PHEVs), accounted for 58.4% of all new car registrations, a notable rise from 48.2% in February 2024.
Among other European automakers, Volkswagen and Renault saw sales increases of 4% and 10.8%, respectively, while Stellantis experienced a 16.2% sales decline. Chinese brands like SAIC Motor reported a 26.1% increase in sales, even amid EU tariffs on Chinese-made EVs, with companies like BYD and other Chinese automakers gaining a combined 2.5% market share.
As the European electric car market continues to grow, Tesla faces increasing competition and challenges in maintaining its dominant position in the region.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The International Monetary Fund (IMF) on Monday approved the disbursement of an additional $500 million to Ukraine, following the completion of its eighth review under the country’s $15.5 billion Extended Fund Facility.
U.S. President Donald Trump on Monday publicly criticized AT&T for technical issues that disrupted a national conference call with faith leaders, urging the company’s leadership to address the situation and suggesting his administration may turn to a different carrier in future communications.
France, Spain, Kenya, and several other nations announced on Monday a joint pledge to tax premium-class airline passengers and private jet users, in a move aimed at raising billions of dollars for climate action and sustainable development.
Special envoys from Pakistan, China and Russia held an informal meeting in the Qatari capital on Monday to discuss regional cooperation on Afghanistan, Pakistani envoy Mohammad Sadiq confirmed in a post on X.
Türkiye’s leading drone manufacturer Baykar has completed its acquisition of historic Italian aviation firm Piaggio Aerospace, paving the way for a European production base for its unmanned aerial vehicles and civil jets.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment