Tesla’s European sales dropped 49% in April year-over-year, despite a 34.1% rise in overall battery electric car sales, according to CNBC. The U.S. automaker continues to face regional brand damage, sparked by CEO Elon Musk’s political ties to Trump and recent protests at European dealerships. Sales from January to April fell nearly 40% year-over-year. Tesla’s aging vehicle lineup and lack of hybrid models are key challenges as European buyers lean toward hybrids, which now comprise over 35% of the market. The EV giant faces intensifying competition, with BYD surpassing it in pure electric car sales in Europe for the first time. Musk recently said he will scale back his work in government by the end of May and remains committed to Tesla leadership for the next five years.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla's European sales dropped 49% in April year-over-year despite a 34.1% rise in overall
00:08battery electric car sales, according to CNBC. U.S. automaker continues to face regional brand
00:13damage sparked by CEO Elon Musk's political ties to Trump and recent protests in European
00:18dealerships. Sales from January to April fell nearly 40% year-over-year. Tesla's aging vehicle
00:23lineup and lack of hybrid models are key challenges as European buyers lean toward hybrids, which now
00:29comprise over 35% of the market. The EV giant is facing intensifying competition with BYD's
00:34basket and pure electric car sales in Europe for the first time. Musk recently said he
00:38will scale back his work in government by the end of May and remains committed to Tesla leadership
00:43for the next five years.
00:44For all things money, visit Benzinga.com slash GSTV.