Tesla’s shareholders are ready to vote tomorrow on whether to give Elon Musk an even more vast slice of the company in an effort to keep him focused on selling electric vehicles. Currently, the trolling tycoon appears a little obsessed with the UK, a place he appears to conflate with Middle Earth, which investors may or may not take into account when making their decision. What they ought to take into account is how many cars Tesla sold last month.
Although Tesla only publishes quarterly sales figures and does not divide those up by region, slightly more granular data is available from some countries via monthly new car registrations. And the numbers for October, when compared year on year to the same month in 2024, should be alarming.
Sales fell by double-digit margins in Sweden (89 percent), Denmark (86 percent), Belgium (69 percent), Finland (68 percent), Austria (65 percent), Switzerland (60 percent), Portugal (59 percent), Germany (54 percent), Norway (50 percent), the Netherlands (48 percent), the UK (47 percent), Italy (47 percent), and Spain (31 percent).
It’s interesting to see how market dynamics are shifting for Tesla, especially in Europe and China. The upcoming shareholder vote will certainly be a pivotal moment for the company. It’ll be intriguing to see how these developments play out.
Absolutely, the changing market dynamics highlight the increasing competition in the electric vehicle sector. It will be interesting to see how Tesla adapts its strategies to regain interest in those regions. Additionally, consumer preferences are evolving rapidly, which could impact their sales further.
You’re right, the competition is really heating up in the electric vehicle space. It’s interesting to see how Tesla’s strategies may need to adapt to retain their market share, especially with new players emerging in both Europe and China. This could really reshape the landscape for EVs in the coming years!