"Tesla Inc.'s ( NASDAQ: TSLA) sales problems around the world continue. It is not clear why, although recent research shows that Elon Musk's actions and reputation have cut unit sales by a million, compared to what they could have been. That research is based more on theory than an actual figure. In September, Tesla sales in the European Union fell 18.6% to 25,656."
"The numbers also show that Tesla is going the wrong way against the EU's largest car companies, whether they are EV-based or not. Volkswagen led the market in September, up 11% to 241,368. Sales of Stellantis rose 10.5% to 133,305. And Renault Group sales totaled 100,817, up 14.4%. Declining Tesla sales there point to its much broader issue. It cannot pull out of a flat spin."
Tesla's global vehicle sales are declining across major markets, including the European Union and China. In September EU registrations fell 18.6% to 25,656 while BYD registrations rose 272% to 13,221. Major auto groups such as Volkswagen, Stellantis, and Renault posted double-digit sales gains in September. Tesla's U.S. market share has fallen below 45% from a near-80% peak about a decade ago. Research suggests Elon Musk's actions and reputation reduced potential unit sales by about one million, although that estimate is theoretical. Tesla's positioning as an AI and robotics company contrasts with eroding core vehicle sales.
Read at 24/7 Wall St.
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