In February, Tesla experienced significant year-over-year sales declines in several countries, most notably a staggering 76% drop in Germany. This downturn coincided with Elon Musk's endorsement of the far-right AfD party, leading to concerns about its impact on the company's reputation. Sales also fell nearly 50% for China-made vehicles, while competitors like BYD thrived. In Europe, declines ranged from 26% in France to up to 48% in Norway, raising alarm among investors as Musk had previously predicted annual sales growth despite these setbacks.
Tesla's year-over-year sales dipped significantly in various countries, particularly in Germany and China, presenting challenges for Elon Musk's 2023 sales growth predictions.
February saw a 76% decrease in Tesla's sales in Germany, despite overall EV market growth, raising concerns about the impact of Elon Musk's political endorsements.
In multiple European markets, Tesla's sales experienced sharp declines ranging from 26% to 76%, while its Chinese competitor BYD significantly increased its sales figures.
Tesla faced a dramatic drop in vehicle sales with a near 50% fall in China, coming at a time when competitor BYD saw major growth.
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