Tesla Struggles in Europe: Sales Plunge Amid Competition and Regulatory Challenges
Sales of new Tesla cars in Sweden, Denmark, and France significantly declined for the seventh consecutive month in July, with the brand facing intense competition from European and Chinese EV makers. Tesla's aging models and delays in new product rollouts add to the challenge amidst regulatory issues in Europe.
In a challenging month for Tesla, sales in Sweden, Denmark, and France plummeted in July for the seventh month in succession, grappling with backlash over CEO Elon Musk's political statements and increasing competition from European and Chinese suppliers.
The electric vehicle giant faces hurdles as its existing lineup ages, while newer, cost-effective competitors flood the market, particularly from China. Though a revamped Model Y is in the works, production delays have stymied momentum, leading to a drastic sales drop: 86% in Sweden, 52% in Denmark, and 27% in France for July, compared to the same month last year.
The challenges compound with upcoming expiration of a U.S. tax break on EVs and stringent European automated driving laws. Despite these setbacks, Elon Musk remains optimistic about future sales, highlighting ongoing improvements and expansion plans.
(With inputs from agencies.)
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