In January 2026, the European new car market experienced a downturn, with new car registrations in the EU, UK, and EFTA regions witnessing a 3.5% year-on-year decrease. Tesla's new car registrations in these areas took a significant hit, plummeting by 17.0%, and its market share dwindled to a mere 0.8%, marking the 13th consecutive month of sales decline. In stark contrast, BYD's sales soared to 18,242 units, representing a remarkable 165.0% year-on-year increase, and its market share expanded to 1.9%. Renault Group's sales also took a 15.0% hit, while BMW and Volkswagen brands likewise saw a downturn in sales. However, Mini and Skoda managed to achieve growth. When it comes to powertrain types, the shift towards electrification gathered pace, with sales of battery electric and plug-in hybrid models on the rise, while sales of gasoline and diesel vehicles took a tumble. Market performance varied across countries, with Germany and France seeing a decline in total new car registrations, but an uptick in electric vehicle sales. Norway, on the other hand, witnessed a sharp 76.3% drop in total new car registrations, attributed to the cessation of subsidy policies.