Tesla faced its most significant drop in delivery numbers to date, with a 13% decline in sales since the year's outset. The company only delivered 336,681 cars in Q1 2024, the lowest in almost three years. Contributing factors include backlash against CEO Elon Musk for his political ties and growing competition in the EV market. A Politico report suggested that Musk might step away from political roles to alleviate frustrations among Trump allies. Meanwhile, European sales plummeted by 49% as Tesla faces market share losses despite rising overall EV sales due to boycotts associated with Musk's views.
Tesla's sales dropped 49% in Europe, signaling a significant loss of market share amid rising competition and backlash over CEO Elon Musk's political affiliations.
Tesla's first-quarter deliveries were 336,681, the lowest since Q2 2022, reflecting a growing decline that analysts had previously anticipated, partially due to factory closures.
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