European car sales experienced their steepest decline in nearly five months during February, with new car registrations slipping 3.1% year-on-year to 963,540 units, according to data released by the European Automobile Manufacturers Association on Tuesday. This downturn can be attributed to economic uncertainty, which has dampened consumer enthusiasm for purchasing vehicles. Amidst this trend, Spain stood out as the sole major market where sales registered an increase, notably with electric car registrations surging 61%. The lingering economic sluggishness in several key European nations has eroded consumer confidence. Furthermore, the looming specter of US tariffs and intensifying competition from Chinese automakers have exacerbated market pressures. Tesla's new car registrations in Europe plummeted by a stark 40%, as consumer dissatisfaction with Elon Musk's political stance and his backing of the German Alternative for Germany continues to take a toll on sales.
