With Chinese brands like BYD, MG and Polestar gaining traction in Europe, the US electric vehicle brand Tesla has lost much of its stream since the last two months. Tesla registrations have plunged, according to a recent report of Jato Dynamics. The Elon Musk led brand saw its market share fell to 9.6 percent in February 2025 – the lowest it has been during the month of February over the last five years. Its year-to-date market share fell from 18.4 percent in 2024 to 7.7 percent this year. 

A total of 966,300 new passenger cars were registered in Europe in February 2025, marking a decline of three percent, compared to the corresponding month last year. As per the Jato Dynamics report encompassing 28 markets, sale of automobiles witnessed a decline in Germany, Italy, Belgium, the Netherlands, Switzerland and Ireland mainly. The year-to-date registrations fell by two percent to a total of 1,962,850 units.

Felipe Munoz, Global Analyst, Jato Dynamics, averred, “There are still no clear signs of recovery in the European automotive industry. Uncertainty in the domestic market is being further complicated by challenges in both China and the US.”

In February 2025, the registrations of battery electric vehicles (BEVs) increased by 26 percent to 164,000 units – the highest volume on record for both the month of February and the period of January to February. A total of 329,700 units were registered, up by 31 percent.

 Of the opinion that Tesla is experiencing a period of immense change while pointing at an increase in electric vehicle registrations in Europe, Munoz said, “In addition to Elon Musk’s increasingly active role in politics and the increased competition it is facing within the EV market, the brand is phasing out the existing version the Model Y – its best-selling vehicle – in anticipation of the introduction of a new refreshed version.”

“During this process, brands often experience a drop in sales before they return to normal levels, once the updated model becomes widely available. Brands like Tesla, which have a relatively limited model lineup, are particularly vulnerable to registration declines when undertaking a model changeover,” he added.

The registrations of the Model Y fell by 56 percent to 8,800 units in February 2025. The registrations of the Model 3 fell by 14 percent to 6,800 units.

“The difference in volume drops between these two vehicles suggests that the decline in the brand’s overall sales is more firmly rooted in the Model Y changeover than Musk’s political activity,” Munoz articulated. “However, it will be interesting to see to what extent demand rebounds once the new Model Y hits markets across the region,” he expressed.

Chinese brands outpace Tesla for BEV sales

The difficulties that Tesla is currently facing have created opportunities for some of its competitors. In February, Chinese-owned car brands registered 19,800 new electric vehicles in Europe, outpacing Tesla which registered just over 15,700 units. In the same month last year, the former registered 23,182 units compared to the 28,131 registered by Tesla.

The best-selling Chinese-owned car brands in February 2025 turned out to be Volvo, BYD and Polestar. While Volvo recorded a 30 percent drop in BEV registrations, BYD and Polestar made substantial gains, with increases of 94 percent and 84 percent respectively. Xpeng also performed well with more than 1,000 units, closely followed by Leapmotor with almost 900 units. 

Renault Group shines

Volkswagen group continued to lead the market with share of 25.8%. Stellantis followed in second position but lost 2.6 points of share when compared to February 2024 due to double-digit drops at Citroen, Opel/Vauxhall and Fiat. Renault Group was the month’s top performer, with a 12 percent increase in volumes and a market share gain of 1.5 points. The group’s strong performance in February can be attributed to positive results posted by the Renault Clio, Dacia Duster and the new Renault Symbioz and Renault 5. 

Much of Renault’s success was found in the BEV segment, with 9,400 BEVs registered in February, up by 96 percent. The French manufacturer was only outperformed by Volkswagen, which recorded a 108 percent increase in BEV sales. Other strong increases within the BEV segment included Audi (up by 67 percent), Kia (up by 56 percent), Skoda (up by 63 percent), Citroen (up by 190 percent), Cupra (up by 179 percent), Mini (up by 804 precent) and Ford (up by 146 percent). In contrast, Tesla, Volvo, MG, Fiat, Jeep and Smart recorded a sales decline in the respective month.   

The Dacia Sandero leads again

The Dacia Sandero once again led in the ranking by model as Europe’s most registered new vehicle during the month. Meanwhile, second position was occupied by the Citroen C3, with the new generation already being widely available. The Renault Clio followed closely in third thanks to a 22 percent increase in volumes – the second best within the top 10, only outperformed by the Volkswagen Tiguan, in ninth position, which recorded a 43 percent increase in registrations.

The Tesla Model Y and Skoda Octavia have dropped out of the top ten model rankings, making way for the Dacia Duster and Volkswagen Tiguan. The best-performing models in the top 100 included the Peugeot 3008 (with sales up by 40 percent), MG ZS (up by 47 percent), Skoda Kodiaq (up by 32 percent), Jeep Avenger (up by 40 percent), Volkswagen ID.4 (up by 150 percent), Volkswagen ID.3 (up by 114 percent), Skoda Enyaq (up by 41 percent), Mini Countryman (up by 109 percent), BMW 5 Series (up by 54 percen), Fiat 600 (up by 369 percent), Audi A5 (up by 181 percent), Audi A6 (up by 74 percent), Mercedes E-Class (up by 49 percent) and Cupra Born (up by 64 percent)

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Japanese automotive companies Honda Motor Co and Mitsubishi Motors Corporation have signed a Memorandum of Understanding (MoU) to develop a Honda pickup truck based on the Mitsubishi Triton.

The agreement marks the first product-supply initiative between the two manufacturers, with the new Honda model scheduled to enter the ASEAN market in 2028. The collaboration originates from a strategic partnership framework established in August 2024 among Honda, Mitsubishi Motors and Nissan Motor, which explores vehicle supply arrangements to expand product lineups across international markets.

As per the agreement, Honda will enter the pickup truck segment in the ASEAN region by utilising Mitsubishi's 1-tonne ladder-frame Triton platform. For Mitsubishi Motors, the OEM supply contract will increase production volumes and vehicle assembly capacity utilisation at its manufacturing facilities in Thailand. The three partner companies continue to examine additional vehicle supply and technology-sharing initiatives.

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Industry leaders at the Renewable Energy India Expo and The Battery Show India (TBSI) highlighted critical mineral access, technology partnerships and domestic manufacturing capabilities to strengthen India's electric vehicle supply chain.

The event convened over 1,080 exhibitors, 1,400 brands and 54,000 professionals, focusing on international collaboration across critical minerals, battery technology and energy storage.

Interestingly, Australia, represented by 20 companies and 32 exhibitors, identified battery production and electric vehicle supply chains as areas for cooperation with Indian manufacturers, leveraging its lithium, cobalt and rare earth reserves. Projections shared at the exhibition indicate India's renewable energy market will reach 486 GW by 2030, while the battery storage sector is projected to surpass USD 8.5 billion by 2031, growing at a compound annual growth rate of 33 percent.

Philip Green, Australia’s High Commissioner to India, said, "The two countries could combine Australia’s engineering expertise and mineral resources with India’s manufacturing strength and integration into global supply chains. Australia produces more than 50 percent of the world’s lithium, according to Green, and holds the world’s second-largest cobalt reserves. It also ranks second or third globally in rare earth resources." he said.

Yogesh Mudras, Managing Director of Informa Markets in India, said, "Renewable energy generation and grid storage needed to expand together as the country advanced its energy transition. India’s renewable energy market is projected to reach 486 GW by 2030, growing at a compound annual growth rate (CAGR) of 15 percent. The country’s battery storage sector is projected to exceed USD 8.5 billion by 2031, with a CAGR of 33 percent."

Anandi Iyer, Director of the Fraunhofer Office in India, said, "India and Germany had opportunities to collaborate in battery research, power electronics, advanced engineering and industrial automation. Approximately 800 GW of renewable energy capacity additions globally in 2025, while global battery storage deployment reached 108 GW, an increase of 40 per cent from the previous year. Technological self-reliance did not mean working in isolation, highlighting the importance of trusted partnerships and supply chains that can translate research into commercially viable solutions."

Manu Srivastav, Additional Chief Secretary in Madhya Pradesh’s Power & Renewable Energy Department, said, "Renewable energy was becoming increasingly competitive with conventional power as costs declined.”  

Jai Asundi, Executive Director of the Centre for Study of Science, Technology & Policy, said, "India would need continued investment in manufacturing, energy storage, grid infrastructure, research and skilled talent to build a resilient clean energy ecosystem."

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Caterham has confirmed its participation in the London International Motor Show 2027, with the British manufacturer set to appear in the event's Built in Britain zone at Excel London from 26 to 28 February 2027. The maker of the legendary Seven, produced in Britain since 1973, will display a selection of its cars on stand 1920.

Visitors will have the opportunity to examine one of the purest driving machines available anywhere, with the Seven widely regarded as a definitive British sports car thanks to its light, simple, hand-built construction in Kent and driver-focused engineering. The Built in Britain zone celebrates the designers, engineers and craftspeople sustaining the country's automotive industry, with specialist sports car makers playing a central role.

Though small in scale, these manufacturers wield enormous influence through cars whose character and focus are admired by major global firms and sought after by enthusiasts. The zone offers them a capital stage before a national audience. The show runs alongside Motorsport Expo and Car Culture UK, with one combined ticket covering all three and around 90,000 visitors expected across the weekend. Friday 26 February serves as the press and trade day, running alongside the public opening.

Stephen Maitland-Oxley, Event Director, London International Motor Show, said, “Caterham is exactly the kind of company Built in Britain was created to celebrate. The Seven is a British icon, and the team behind it has spent more than 50 years proving that lightness, ingenuity and sheer driving fun never go out of fashion. Britain's niche sports car makers are a national asset and we are delighted to give them the spotlight they deserve. Having Caterham with us is a wonderful way to set the tone for the zone.”

Trevor Steel, Senior Vice President – Operations, Caterham Cars, said, “ "At its core, the Caterham Seven is engineered to deliver a driving experience that is as pure, enjoyable and rewarding to the driver, as any car on sale today. Since its inception by Colin Chapman nearly 70 years ago, and since becoming a Caterham in 1973, the Seven has always been proudly built here in Britain, and this is heritage we’re always wishing to celebrate. Built in Britain is a natural home for us, and we are looking forward to meeting enthusiasts, owners and a new generation of drivers in London next February.”

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GP Petroleums has appointed Shirish Suvagia as its new Chief Financial Officer and Key Managerial Personnel, effective 15 October 2026.

Suvagia is a Chartered Accountant with over 23 years of experience in corporate finance, treasury, strategic planning, mergers & acquisitions, and debt and equity fundraising.

He holds Bachelor's and Master's degrees in Commerce from the University of Mumbai, an Executive MBA from IIM Indore, a CISA certification from ISACA, and an IFRS certification from the ICAI.

In his role as CFO, Suvagia will manage the company's financial strategy, treasury, business planning, capital allocation, risk management and reporting functions as GP Petroleums expands its IPOL lubricants brand across domestic and international markets.

Ayush Goel, Chairman & Managing Director of GP Petroleums, said, "We are delighted to welcome Suvagia to GP Petroleums. His experience across corporate finance, treasury, fundraising and mergers & acquisitions will be a valuable asset to the Company, particularly as we focus on capital allocation, business expansion and long-term value creation. We look forward to his contribution as we take the company forward. We are confident that his leadership and financial expertise will support the Company in creating sustainable value for all stakeholders."

"I am excited to join GP Petroleums at an important stage of its growth journey. IPOL is a well-established and respected brand with strong market fundamentals and significant opportunities ahead. I look forward to partnering with the Board and leadership team to further strengthen the Company's financial capabilities, support strategic growth initiatives, and drive long-term value creation for stakeholders," said Suvagia.

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