Tesla Sales Plummet 59% Across Germany, France, UK Amid Political Backlash

Tesla's sales in Europe have sharply declined, particularly in Germany where registrations fell by 59.5% in January. This drop is attributed to several factors, including a backlash against CEO Elon Musk's political endorsements, specifically his support for the far-right Alternative for Germany (AfD) party, which has alienated consumers. Similar declines were observed in France (down 63%) and the UK (down 8%), despite the overall electric vehicle market experiencing growth. Analysts suggest that some potential buyers may also be postponing purchases in anticipation of the updated Model Y. Tesla's market share in Germany plummeted from 14% to 4%, highlighting the impact of these controversies against the backdrop of increasing competition. Amidst these challenges, Tesla's stock has shown volatility, reflecting broader concerns over its market position in Europe.