For comparison electric cars declined by 9.5% but Tesla declined by 40.9% at that same time. This is more than Tesla just following the general market trend.

This is about the market share of Tesla, a company with a PE of 112. Not about overall EV trends...

"...Year-to-date, Tesla registrations in the EU, EFTA and UK went down 13.7% from 327,635 units in 2023 to 282,692 units this year, while the market share shrunk from 2.8% to 2.4%. In the EU alone, which has 27 member states, Tesla’s market share went down from 2.6% in the first 11 months of last year to 2.2% this year..."

From the article,

The automaker’s losses can be attributed to a number of factors, including the increasingly controversial attitude of its CEO, Elon Musk, and the decrease in government incentives. Some European states have reduced the amount of money offered toward the purchase of a new EV, while others have eliminated the incentives altogether.

That said, Tesla’s significant drop in European registrations has largely left the EV industry unaffected. Considering the sheer volume of electric cars sold by Tesla, EV registrations as a whole only went down by 1.4% in the EU, EFTA and UK from January to November and they actually went up 0.9% in November compared to last year. In the EU alone, EV registrations went down 5.4% year-to-date and 9.5% in November.

If you fiddle with the pie chart graphic to show all Europe (EU + EFTA + UK), and January to November, the share of EVs has reduced very slightly, from 15.4% to 15.1%.

Hybrids have increased from 26.5 to 31.2%, petrol and diesel are down.

(It seems daft to concentrate on one month, or to count the number of cars rather than the share of cars sold.)

It's slightly up in Europe, your figures are for the EU which doesn't include strong EV markets the UK and Norway.

Car sales in Europe are tanking generally

I Germany car registrations were 1% down in 2024 compared to 2023. Tesla sold 41 percent fewer cars in Germany in 2024 compared to 2023.

Official data: https://www.kba.de/DE/Presse/Pressemitteilungen/Fahrzeugzula...

Didn't Germany roll back EV subsidies this year ?

IIRC that was over a year ago. But even in the EV market Tesla has been losing market share, mainly to Volkswagen, but not as much as in the overall car market.

I think it only came into effect this year ?

Yeah, people are spending more guardedly (and have been since Ukraine started)