Tesla's February market share in Europe drops despite EV pickup

Tesla's (TSLA.O), opens new tab market share in Europe continued to shrink year-on-year in February, data showed on Tuesday, as sales of the all-electric car maker dropped for a second month despite rising EV registrations overall on the continent.

As competition grows and a slowdown in European economies hampers total car sales, Elon Musk's battery-electric (BEV) brand has sold 42.6% fewer cars in Europe so far this year, data from the European Automobile Manufacturers Association (ACEA) showed.