Tesla Faces Sales Slump in Scandinavian Markets
Tesla has experienced a steady decline in sales for six consecutive months in Sweden and Denmark, as competitors gain traction in the EV market. The company's registrations dropped significantly in both countries, and this downturn coincides with declining popularity of CEO Elon Musk.
Tesla is grappling with a persistent decline in sales across Scandinavian markets, as evidenced by a sixth consecutive month of dwindling numbers in Sweden and Denmark. In June, Tesla saw its Swedish registrations plummet by 64.4% compared to the previous year.
The situation is mirrored in Denmark, where Tesla's Model Y sales dropped by 31.2% from the previous year's figures, amounting to 1,155 cars sold. This dip indicates the brand's ongoing struggle to regain market momentum amid rising competition.
Additionally, the release of Tesla's car registration data coincides with renewed tensions between CEO Elon Musk and former U.S. President Donald Trump, centered around contentious fiscal policies. Meanwhile, Tesla shares on Frankfurt's stock market have fallen by 5.6%.
(With inputs from agencies.)
ALSO READ
NAACP files intent to sue Elon Musk's artificial intelligence company over air pollution from Memphis supercomputer, reports AP.
Elon Musk's X Corp Challenges New York's Social Media Law
Elon Musk's xAI Faces $1 Billion Monthly Burn
Elon Musk's X Corp Sues New York Over Social Media Disclosure Law
NAACP to Sue Elon Musk's xAI Over Air Pollution Concerns
Google News