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World News@lemmy.worldEnglish · 1 month ago

Tesla’s European death spiral has no end in sight

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Tesla’s European death spiral has no end in sight

MicroWave@lemmy.world to

World News@lemmy.worldEnglish · 1 month ago

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Summary

Tesla’s sales in Europe collapsed in April, plunging over 50% in several countries despite an overall 23.9% rise in EU EV sales.

Sweden saw an 81% drop, the Netherlands 73.8%, and France 59%.

The refreshed Model Y failed to revive interest as buyers turned to alternatives, citing CEO Elon Musk’s controversies or superior competitors.

Tesla’s Q1 EU market share fell from 2.4% to 1.3%. Including the UK and EFTA, sales dropped 37.3%. Globally, 2024 was Tesla’s worst delivery year in two years, raising doubts about a near-term recovery.

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AntelopeRoom@lemm.ee
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1 month ago
I suspect Americans may forget, but maybe not Europeans given that him and Trump insulted their national pride. Same with Canadians.

I do hope Americans never forgive and never forget on this one.

What baffles is how completely overbought the stock is and how it refuses to collapse. There must be some big whales propping him up.

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