Tesla’s European Sales Collapse Continues
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Tesla’s woes are continuing in Europe even as EVs generally enjoy stronger demand in the region. The Elon Musk-led carmaker saw its sales sump with new vehicle registrations dropping 39% last month in Germany and 56% through the first eight months of the year, according to official road traffic statistics.
Sales also posted steep August falls in France, Belgium, Denmark and Sweden. Tesla’s worldwide vehicle deliveries fell 13% in the first half of the year, putting the company on course for its second consecutive annual decline.
Meanwhile, Volkswagen is is trying to harness the legacy of one of its best-selling cars, with a compact electric hatchback. The manufacturer today unveiled the ID. Polo, which is expected to be priced below €25,000 when it goes on sale next year. It will try to compete with Chinese brands including BYD and Zhejiang Geely that are expanding in Europe with competitively low-cost offerings.