The EV giant sold 1,110 cars in Germany in July, marking a slump of 55% from the corresponding month of 2024, and bringing the company’s overall market share down to a meagre 0.4%, according to KBA.
Tesla Inc.’s (TSLA) sales in Germany more than halved in July to 1,110 units, according to data from KBA, the country’s federal authority for road traffic.
The American EV giant sold 1,110 cars in Germany last month, marking a slump of 55% from the corresponding month of 2024, and bringing the company’s overall market share down to a meagre 0.4%, according to KBA. In the seven months through the end of July, Tesla sold 10,000 vehicles, marking a slump of about 58% from the corresponding period last year.
On Stocktwits, retail sentiment around Tesla trended in the ‘neutral’ territory over the past 24 hours, coupled with ‘low’ message volume. However, according to Stocktwits data, retail chatter around Tesla jumped 273% over the past 24 hours.
A Stocktwits user believes Tesla shares aren’t affected by bad news anymore.
Overall passenger vehicle registrations in Germany, however, rose 11.1% to 264,802 units in July. Volkswagen continued to remain the most popular vehicle brand, with 19.6% market share in the month.
Electric vehicle sales also rose in July, accounting for 18.4% of overall new vehicle registrations. Notably, 48,614 new EVs were sold in July, marking a growth of 58% year-over-year, as per the agency.
Last month, Tesla said that it is preparing for the launch of its driver assistance software called Full Self-Driving (Supervised) in Europe this year, pending regulatory approval, in line with Musk’s vision of shifting the company into artificial intelligence and robotics.
A Stocktwits user opined that the shift in strategy has yet to yield the desired results, owing to regulatory challenges.
On Monday, it was reported that Tesla’s sales of China-made electric vehicles declined by over 8% in July to 67,886 units, including vehicles sold in China and those exported to select overseas markets. Tesla stock is down by 23% this year but has gained by about 56% over the past 12 months.
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