Tesla’s sales in the European Union dropped sharply in November. The company sold 12,130 new cars, down from 18,430 in November 2024. This caused Tesla’s market share to shrink from 2.1% to 1.4%, according to data from the European Automobile Manufacturers’ Association (Acea). Meanwhile, Chinese car brands did very well. BYD’s sales almost tripled year on year in Europe, reaching 42,500. SAIC, which owns MG, saw a 26% sales rise, hitting 217,000 units. Both make battery electric and hybrid cars. Hybrid cars, which use a small battery and petrol or diesel engines, accounted for 44% of all car sales. European carmakers have pushed hybrids as they are more profitable. This rise in hybrids came after strong lobbying by European car makers to relax electric car sales targets. The EU recently agreed to allow 10% of cars sold after 2035 to still have internal combustion engines. Despite these challenges, electric cars still grew their market share. Battery electric vehicles made up 18.8% of the market for the first 11 months of the year, up from 15% last year. Tesla’s slowdown started late last year, around the time Elon Musk entered European politics. Musk supported far-right groups in Germany and the UK and had a public fallout with Donald Trump over electric car policies. On paper, Musk remains the richest man globally, with a net worth of $647 billion. SpaceX is his biggest asset, followed by Tesla shares worth about $200 billion. Tesla’s market value tops $1.5 trillion, exceeding all other Western carmakers combined, driven by investor support for Musk’s vision in technology. Overall, EU new car sales rose slightly by 1.4% in the year to November, marking five straight monthly increases. Total sales including the UK and the European Free Trade Area rose 1.9% to 12.1 million cars in the first 11 months.