Tesla Sales Crash Over 80% In Sweden And That’s Just The Beginning

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The updated Model Y might have been why sales dipped in Q1 but something else is playing a role now

2 hours ago

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• Tesla sales dropped 80.7 percent in Sweden and over 50 percent in France, Denmark.
• Its European sales declined for a fourth straight month, raising serious market concerns.
• Model Y’s refresh failed to stop the EV maker’s April slump across key European nations.

Tesla’s sales slump in Europe isn’t letting up, and now it’s starting to look like more than just a temporary dip from the Model Y changeover. For the fourth month in a row, the EV company’s numbers are sliding in several key markets, and this time the declines are steep. In April, at least three major countries reported year-over-year drops of more than 59 percent. Tesla may be running out of time to figure out how to stop the bleeding.

Read: Tesla’s In Crisis, How Would You Save It?

Tesla’s sales are diving headfirst into the red. In France, deliveries were down 59.4 percent compared to April last year, with just 863 vehicles sold. Denmark saw a 67.2 percent decrease, bringing the monthly total there to only 180 cars. But, as reported by Reuters, Sweden takes the prize for most dramatic plunge: sales dropped 80.7 percent, from 1,052 units last April to just 208 this year.

A Rougher Ride Ahead

The broader trend doesn’t look much better. Tesla’s overall European sales dropped 28.2 percent in March, and April seems poised to show even worse results once full data is available. In Norway, figures from OFV show that Tesla’s market share has slipped from 18 percent to just 11 percent compared to the same period last year.

Chinese automakers, meanwhile, have moved ahead, claiming 12 percent of Norway’s market. “Tesla is nowhere near the level we are used to; you can’t pretend otherwise,” OFV noted.

Much of this feels like a perfect storm against Tesla alone. Tesla has chalked up its weak Q1 performance to a production switch from the outgoing Model Y to the updated version. But that’s only part of the story and it doesn’t apply to Europe which received the facelift model early on in the year.

At the same time, it’s facing pressure from rival brands and even more from Chinese EVs that often sell for less. On top of all that, Elon Musk’s political views have distanced many of his customer base in the area.

That said, it’ll be interesting to see what, if anything, comes of this sales dip from an official Tesla standpoint. The company openly said that production slowdowns from the first quarter are done, so what will it say if this downward projection continues?

Will it reverse course on its public statements about searching for a new CEO? How will it explain a sales dip when its most popular model, the Y, is struggling to sell despite just launching a heavily updated version? Only time will tell. 

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