"Tesla Inc.'s sales slump is dragging on across almost all of Europe's biggest electric vehicle markets, costing the company significant share in countries seeing stronger EV demand. New Tesla vehicle registrations dropped 39% last month in Germany and plunged 56% through the first eight months of the year, the Federal Motor Transport Authority said Wednesday. The Elon Musk-led carmaker also posted steep August sales declines in France, Belgium, Denmark and Sweden. Norway has been the exception, with registrations rising 21% last month and 26% year-to-date."
"Tesla's worldwide vehicle deliveries fell 13% in the first half of the year, putting the company on course for its second consecutive annual decline. While the carmaker is expected to get a boost this quarter from US consumers accelerating EV purchases before federal tax credits expire, that upside could be capped by weakness in both Europe and China, where factory shipments continue to drop."
"Musk and other top executives blamed Tesla's early-year sales shortcomings on transitioning the Model Y its top-selling vehicle to a new design, which temporarily disrupted production. But roughly six months since the company started delivering the new Model Y in Europe, the vehicle is struggling in several key markets. Registrations plummeted 87% in Sweden and 47% in Denmark last month."
New Tesla vehicle registrations fell sharply across major European markets, with Germany down 39% in August and 56% year-to-date, while France, Belgium, Denmark and Sweden also saw steep declines. Norway was an outlier, with registrations up 21% in August and 26% year-to-date. Worldwide deliveries dropped 13% in the first half, placing Tesla on track for a second straight annual decline. A potential U.S. sales boost before federal tax credits expire may be limited by weakening demand in Europe and China. The transition to a redesigned Model Y temporarily disrupted production, and the new Model Y is underperforming in several European markets. Industrywide BEV registrations rose, with Germany up 46% in August and Europe BEVs up 26% year-to-date, even as Tesla sales fell 40% across Europe.
Read at www.mercurynews.com
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