Tesla has experienced a dramatic decline in sales across major markets around the world, with experts tying both increasing competition and CEO Elon Musk's political activity.
Bloomberg Report Tesla is facing a troubling global sales slump as recent data reveals sharp declines in several major markets. In China, the company's wholesale delivery fell to its lowest level in over 2.5 years, with shipments in February plunging to just 30,688 vehicles, 49% year-on-year.
The recession is far beyond China. In Germany, Tesla registration collapsed 76% in February, causing 1,429 cars to collapse, while Australia fell 71.9%, selling just 1,592 cars, compared to 5,665 units the same month last year. The European market shows a similar pattern, with sales in February being 50% in Norway, 42% in Sweden and 48% in Denmark being EV adoption leaders.
The downward trend appears particularly troublesome as it contrasts with the growth of the broader industry. Germain's electric vehicle registration rose 31% in February despite Tesla's collapse.
Industry analysts point to two major factors behind Tesla's struggle. First, the company faces increasingly fierce competition. Especially in China, domestic manufacturers like BYD offer more technology and affordable vehicles. BYD sold over 318,000 purely electric and hybrid passenger cars in February, representing a 161% increase from the previous year. BYD has also recently made the Advanced Driver Assistance Technology Standard the standard for most of its lineup, including more affordable models.
The second, perhaps more controversial, appears to be CEO Elon Musk's increasingly polarizing political activity. Musk's political action reportedly sparked protests, with CNN reporting more than 50 demonstrations at Tesla dealers over a single weekend. Over 300,000 people in Canada have signed petitions calling for mask citizenship to be revoked. Breitbart News previously reported that police had arrested a man allegedly planting explosives at a Tesla dealer.
While some Tesla supporters believe the decline in sales is attributed to inventory constraints and upcoming update model Y, the company's financial metrics suggest deeper concerns. Tesla's stock price fell 4.4% in a day, falling 32% since the start of the year, wiping most of the profits made after the US election when investors bet that their relationship with President Donald Trump would benefit his company.
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Lucas Nolan is a reporter for Breitbart News, which covers the issues of freedom of speech and online censorship.
