Tesla Sales Surge 7.4% Despite European Market Slump
Tesla, the electric vehicle giant, has seen a 7.4 percent year-on-year increase in sales, delivering 497,099 vehicles in the last quarter. However, the company's focus seems to be shifting away from car sales, with Elon Musk prioritising robotaxis and humanoid robots. Meanwhile, Tesla's European sales and market share have been declining sharply.
Last quarter, Tesla built around 447,410 cars, a decrease of about 4.8 percent compared to the same period last year. Despite this, global sales increased by 7.4 percent, driven primarily by US buyers snapping up vehicles before subsidies expired. In Europe, Tesla's market share has plummeted to around 1.2 percent, with new registrations dropping by over 33 to 43 percent year-on-year. Competitors like BYD have capitalised on this, significantly increasing their sales and overtaking Tesla in the European market.
Elon Musk has taken personal control of Tesla's European production and sales following the departure of a long-term executive. The company's European plant is located in Gruenheide, near Berlin. Despite the challenges in Europe, Tesla's sales in the US may impact the current quarter and beyond, as buyers take advantage of expiring subsidies.
Tesla's focus on robotaxis and humanoid robots, while innovative, may have contributed to the decline in car sales in Europe. With increasing competition from hybrid and internal combustion engine vehicles, Tesla faces an uphill battle to regain its market share. Elon Musk's personal involvement in European operations signals a commitment to turning the situation around.
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- Contributions have been made to explore the potential of decreasing vehicle count within the Union.
