Posted 1/5/2024, 1:45:10 PM
Tesla Sales in Germany Plummet in Q4; Full Year Declines in Largest European Markets
- Tesla's sales in Germany plunged 77% in December year-on-year, capping off a disastrous 4th quarter in its largest European market
- Sales also dropped 9% for the full year in both Germany and the UK, even as the wider EV market grew
- The declines partly owed to buyers delaying purchases ahead of the refreshed Model 3 "Highland" launch
- Tesla recently had to shut down Model Y production at its German plant for 2 weeks to control inventories
- Germany pulled EV subsidies forward at the last minute, catching buyers and the industry off guard