8 Falling Tesla Gross sales Numbers That Ought to Fear Elon Musk

• Tesla’s year-over-year gross sales fell in a number of international locations final month.
• Tesla’s gross sales in Germany and Australia dropped by over 70% 12 months over 12 months in February.
• Gross sales of Tesla’s China-made EVs dropped by almost 50%, whereas BYD recorded a 90% enhance in gross sales.

Elon Musk instructed traders to anticipate Tesla gross sales to develop this 12 months — however plummeting gross sales in a lot of international locations are complicating that purpose.

Whereas Tesla’s Mannequin Y continues to be a prime vendor and UK gross sales have been up in February, a few of Tesla’s gross sales figures in different markets appeared grim — the sort of year-over-year drops that ought to fear the CEO.

Australia: -71%

Tesla gross sales in February declined 71% 12 months over 12 months in Australia, in line with figures from the Electrical Automobile Council. The EV big offered 1,592 autos in Australia final month, down from 5,665 in February the 12 months prior.

Tesla Rival Polestar offered 125 autos final month, which was additionally a decline of 11%.

The decline of Tesla gross sales in Australia this month comes amid vandalism within the nation aimed toward Musk. A Tesla retailer in Hobart, the capital of Tasmania, was vandalized with graffiti, information.com.au reported this week.

Germany: -76%

Tesla’s gross sales in Germany final month have been down by 76% 12 months over 12 months, with 1,429 autos offered. Germany’s Federal Motor Transport Authority stated total EV gross sales within the nation grew by about 31%.

Tesla’s gross sales within the nation additionally fell in January, when Musk endorsed the far-right AfD celebration forward of a February 23 election.

Norway, Denmark, and Sweden: -42% to -48%

Tesla gross sales declined in a number of different European international locations final month.

In February, Tesla gross sales in Norway and Denmark have been down by 48% 12 months over 12 months.

Gross sales in Sweden declined by 42% 12 months over 12 months.

France: -26%

Tesla gross sales in France final month declined by 26% 12 months over 12 months: It offered 2,395 autos, although that was a rise from 1,141 Teslas offered in January. The nation additionally skilled an total decline in automotive gross sales of 0.7%, Plateforme Vehicle stated.

US: -11%

January Tesla registrations within the US fell 11% 12 months over 12 months, in line with information from S&P World Mobility. Whereas gross sales have been down, Tesla nonetheless has a number one market share within the US with 42% of whole EV gross sales, in line with the information.

Nonetheless, Tesla’s decline got here as its rivals noticed a rise. Ford’s EV registrations surged 54% from the 12 months prior, and Chevrolet and VW additionally noticed will increase, S&P World Mobility stated. Tesla nonetheless offered 35,000 extra EVs than Ford final month.

Slumping gross sales within the US come as a collection of latest anti-Musk protests and boycott efforts have been aimed toward Tesla in response to the billionaire’s political involvement. Plenty of vandalism incidents involving Molotov cocktails, suspected arson, and gunfire have additionally taken place, with some resulting in arrests.

Teslas manufactured in China: -49%

Gross sales of Teslas manufactured in China additionally took successful in February. The EV big offered 30,688 China-made autos, its lowest quantity since August 2022. That represented a 49% drop 12 months over 12 months in China. Tesla’s Chinese language rival BYD recorded a 90.4% enhance in car gross sales that month.

Tesla’s inventory dropped by about 4% in early buying and selling on Tuesday however has since leveled out. Nonetheless, after surging within the wake of Donald Trump’s presidential victory, Tesla shares are nonetheless buying and selling down about 36% 12 months thus far.

Tesla didn’t instantly reply to a request for remark from Enterprise Insider.

Whereas Tesla has confronted rising competitors within the EV market in recent times, some traders have expressed considerations that Tesla might be struggling partially due to Musk’s involvement in international politics and place within the Trump administration with DOGE.

In latest weeks, a number of “Tesla Takedown” protests have occurred in varied cities in response to his political involvement, with demonstrators urging Tesla homeowners to promote their autos.

In an obvious effort to spice up gross sales of its costliest Cybertruck fashions, which price almost $100,000, Tesla is providing free charging for your entire interval of possession.