Tesla, Europe
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Electrek |
In March, Tesla started to deliver the updated Model Y, which many hope will help Tesla turn things around.
Yahoo |
Tesla reported this morning that sales estimates have dropped 13% from last year.
Yahoo |
So is it time to worry? Business Insider's Ana Altchek breaks down the report.
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Sales in Europe appear to be plunging — down 42% in the first two months of 2025. Now one company appears to be capitalizing on Tesla's missteps.
EV maker Tesla's latest numbers for Sweden, Denmark, and the Netherlands are down over 60% in March, but TSLA stock is doing fine.
Some of the first-quarter slowdowns may be due to customers waiting for the updated version of the car. Refreshes for Tesla's full-size Model S and Model X are expected by the end of 2025, potentially setting the stage for a dramatic rebound in deliveries in 2026.
Tesla investors are bracing for a drop in Q1 vehicle deliveries as a backlash against CEO Elon Musk's politics exacerbates weakening demand.
Vehicle sales at China’s BYD soared 58 per cent in the first quarter in a stark contrast to an expected fall in demand for Tesla’s electric cars, as European consumers shun Elon Musk’s brand. The Shenzhen-based group on Tuesday said it delivered 986,098 passenger vehicles in the first quarter, of which 416,388 were pure EVs, up 39 per cent.
Another tempting Chinese Model Y rival in Europe is the Xpeng G6. Its base price in Germany is €47,600, which gets you a single-motor G6 with 296 hp and a 66 kWh battery. The small battery nets the base G6 a WLTP range of 270 miles (435 km), which can be increased up to 354 miles (570 km) with the optional 87.5 kWh battery.
While Musk is telling his employees to hold fast, other Tesla insiders have been dumping the stock amid the roller-coaster ride in recent months and the controversy surrounding Musk and the company.
Stellantis will buy credits from a "pool" led by Tesla also in 2025, to meet European Union's CO2 reduction requirements, despite Brussels giving carmakers three years to comply, the group's Europe head said on Saturday.