Tesla’s continuing sales slump in Europe weighs on stock price
SpaceX and Tesla CEO Elon Musk participates in the Viva Technology Conference at the Porte de Versailles Exhibition Center in Paris on June 16, 2023.
Gonzalo Fuentes | Reuters
Tesla Despite the strong demand for completely electric vehicles in the region, the data from Europe fell more than 4% on Thursday after the data from Europe showed a continuous sales drop for the automobile manufacturer.
According to the data of the European Automobile Manufacturers Association (ACEA) on Thursday, Tesla home records in Europe, which is a proxy for sales, fell approximately 23% per year in August.
ACEA said that in August 2024 from 19.136 to 19.136 from 19.136 from 19.136 to 19.136, 14,831 Tesla had home records.
Meanwhile, total home records across the region increased by 26% until August compared to the same period in 2024. On the contrary, gasoline and diesel motor vehicle records decreased by more than 20% on this stretch.
Nevertheless, RBC analysts wrote in a note on Thursday that Tesla’s total delivery for the third quarter of 448,000 deliveries could be above the compilation of Factset, and 440,000 deliveries may be above the visible alpha consensus.
Analysts are waiting for an increase for Tesla for consumers to buy homes in the United States before a federal tax loan of $ 7,500 at the end of September ends at the end of September.
Even with a slide on Thursday, Tesla’s shares returned after a ruthless beginning until the year. It increased by 5% in 2025 after diving 36% in the first quarter.
Musk’s political activism in the United States and beyond damaged the Tesla brand and reduced its charm to many possible home buyers.
Earlier this year, Musk approved Germany’s far -right AfD party and appeared by a video at an anti -immigrant rally in the UK this month. The rally was ruled by activist Tommy Robinson, a convicted fraud with a violent criminal record.
British Prime Minister Keir Starmer scolded Musk for his “dangerous” comments at the rally where 26 police officers were wounded. Musk said to the participants, “Violence is coming to you” and “you are going back or you are dying.”
To revive the interest in the brand, Tesla said that it is an affordable new model in the works, which will help to eliminate the increasing competition from Volkswagen, BYD and other home manufacturers receiving the market share.
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