Business
Tesla shareholders to vote whether Elon Musk deserves the billions Delaware judge struck down
June 11, 2024
February 7, 2025
By Evans Momodu
2 minute digest
Tesla has experienced a significant decline in sales across Europe, with Germany witnessing a 59% drop in January 2025 compared to the same month the previous year.
Similarly, France reported a 63% decrease in Tesla sales during the same period. The downturns are occurring despite an overall increase in the European electric vehicle market.
Analysts suggest that Elon Musk's political engagements, particularly his endorsement of Germany's far-right Alternative party for Germany, have contributed to this decline.
In December 2024, Musk publicly supported the AfD, stating, "Only the AfD can save Germany." This endsement has been met with criticism and may have influenced consumer perceptions of the Tesla brand in Europe.
Aditionally, Tesla faces intensified competition from European automakers introducing more affordable electric models. The absence of new Tesla vehicle releases in Europe since 2021 has also been cited as a factor affecting sales.
The upcoming release of the updated Model Y is anticipated to play a crucial role in potentially reversing this trend.
Source: Sky news
Image: ArenaEV
