Summary
Tesla's car sales in Europe fell by 40% in July compared to the previous year, despite an overall increase in electric vehicle sales in the region. CEO Elon Musk's political statements have upset some Europeans, which may have contributed to the decline. The company also faces issues like delayed approval for certain car features and previous factory shutdowns.
Key Facts
- Tesla sales dropped 40% in July in the European Union compared to the previous year.
- Chinese competitor BYD's market share increased to 1.1% in the same month.
- Elon Musk has made political comments that upset some Europeans, including criticism of European leaders and support for a far-right party.
- Tesla stock declined by 1.5% after these sales figures were released.
- Tesla is waiting for European approval of its Full-Self Driving software, a feature already available in the U.S.
- Earlier this year, Tesla temporarily shut down factories to update its Model Y, affecting production.
- Tesla sold 6,600 cars in the EU in July, down from 11,465 cars the previous year.
- From January to July, Tesla's overall European sales fell by 44%.
