Reported 5 months ago
Tesla's sales in Europe hit a 15-month low in April, with only 13,951 vehicles registered, marking a 2.3% decrease from the previous year and the lowest tally since January 2023. This decline contrasted with a 14% rise in battery-electric vehicle sales industrywide. Tesla also experienced a downturn in shipments from its Shanghai factory during the month, despite the broader growth seen in China's plug-in car industry. CEO Elon Musk had previously expressed expectations for a better showing in the second quarter following production issues in Q1, but Tesla's shares fell by 1.8% before regular trading. The company's underperformance in the European market comes as other manufacturers like Volkswagen and Mercedes-Benz adjust their product plans in response to changes in EV subsidies in countries like Germany and Sweden.
Source: YAHOO