Tuesday, 02 January 2024 12:17 GMT

Tesla’s German EV Sales Plunge


(MENAFN) US electric vehicle (EV) leader Tesla experienced a sharp decline in sales in Germany, with numbers dropping 53.5% in October compared to the previous year, according to figures released Wednesday by the country’s Federal Motor Transport Authority (KBA).

The company managed to sell only 750 cars in October, a significant decrease from the 1,607 vehicles sold in October 2024.

Data from KBA also shows that Germany recorded a total of 434,627 new battery-electric vehicle registrations so far this year, marking nearly a 40% increase compared to the same period last year.

Of these, 15,595 were Teslas, reflecting a 50% year-on-year decline for Elon Musk’s automaker.

Despite having a substantial vehicle assembly plant near Berlin in Brandenburg, Tesla’s reputation in Germany has suffered recently.

Criticism has emerged over Musk’s political opinions and involvement in European affairs, which has affected the brand’s image among local consumers.

In addition to political factors, growing rivalry from Chinese automakers has further pressured Tesla’s market performance.

Among them, BYD, a leading competitor, reported an 866.3% surge in October sales, reaching 3,353 units, according to KBA data.

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