Tesla's Sales Slump in Europe as Global Deliveries Rise
Tesla's sales have seen a mixed performance in recent quarters, with a significant decline in Europe and a surprising increase globally. Elon Musk, Tesla's CEO, has attributed potential premature purchases to the sales fluctuations, while also acknowledging the impact of political controversies and competition.
Tesla's deliveries in the first two quarters of the year dropped by around 13 percent each time. Musk took over the supervision of production and sales in Europe after Omead Afshar's departure, aiming to turn the situation around. However, Tesla's registrations in Europe continued to fall, with a 36.6 percent year-on-year decrease in August, reducing its market share to 1.2 percent.
Musk expects premature purchases, driven by the impending expiration of the US federal tax credit, to impact sales in the current quarter and beyond. Despite the decline in Europe, Tesla's global deliveries increased by 7.4 percent year-on-year in the last quarter, reaching 497,099 vehicles. The electric pickup truck, Cybertruck, has not yet become a significant sales driver for the company.
Tesla's sales performance has been uneven, with a notable decline in Europe and an unexpected increase globally. The company's reliance on the European market as a growth driver has diminished, and the impact of premature purchases on future sales remains to be seen. Despite these challenges, Tesla continues to make strides in the global electric vehicle market.
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