• 20
  • 6
  • Favorite

Tesla’s Sales Plunge 76% in Germany Amid Musk’s Electioneering

Bloomberg03-05

Tesla Inc.’s registrations plummeted in Germany last month as Chief Executive Officer Elon Musk irked voters taking part in the country’s closely contested federal election.

Sales plunged 76% to 1,429 cars, according to the German Federal Motor Transport Authority. Tesla’s showing was in stark contrast with overall electric vehicle registrations, which jumped 31% in February.

Musk endorsed the far-right Alternative for Germany in the months leading up to the Feb. 23 election, throwing his weight behind an anti-immigrant, pro-Russian party that’s assailed the country’s political establishment. While the AfD vaulted into second place, the likely next Chancellor Friedrich Merz has vowed to keep the party at arm’s length.

Through the first two months of the year, Tesla’s sales are down 71% in Germany and 44% in France, the two biggest EV markets within the European Union.

In the UK, which surpassed Germany last year as the top EV market in the region, Tesla’s registrations are up 11% through the first two months, after a big gain in February.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment6

  • Musk borrows from the bank against TSLA stock - at what point do the banks pull the rug from under his feet? TSLA is now a toxic brand being canceled.
    Reply
    Report
  • Dr Rck
    ·03-05
    It may go below $200? EV cant sustain TSLA but maybe when Optimus or Robotaxi are full fledged ready, which seems to be not so soon before seeing a substantial rise? Start accumulating when it hits 240!
    Reply
    Report
  • Fall more please, Im not done accumulating [Miser]  
    Reply
    Report
  • Jalopy88
    ·03-05
    NiO and Xpev 👍
    Reply
    Report
  • vchong8
    ·03-05
    Buy below $270
    Reply
    Report
  • Guavaxf30
    ·03-05
    Getting worst for Tesla. It is very obvious it will take a miracle for sentiments to get back to positive.
    Reply
    Report
    Fold Replies
    • Guavaxf30
      I am expecting this to go back below $200/-.


      I had previously stated this but Elon Musk, first with the promise of Robots, then the cheap Tesla which never appeared, and after that the tie-up to Trump (which is now swinging against Tesla) was able to keep prices up. No more.
      03-05
      Reply
      Report

7x24