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Tesla European sales decline to lowest since January 2023

Published 2024-05-22, 08:48 a/m
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Data from the European Automobile Manufacturers' Association showed Tesla (NASDAQ:TSLA) sales in Europe fell to a 15-month low.

The electric vehicle giant registered just 13,951 vehicles in April, the European Automobile Manufacturers' Association said. This represents a 2.3% decline from a year ago and its lowest number since January 2023.

However, the month was mostly encouraging for battery-electric vehicle sales, which rose 14% industrywide.

According to a Bloomberg report, Tesla also reported a downturn in shipments from its Shanghai factory for the month. This was in contrast to the strong growth seen in China's plug-in car industry.

During Tesla's first-quarter earnings call, Elon Musk said they believe the second quarter "will be a lot better" after several issues impacted production in the first quarter.

Tesla shares are down around 1.8% premarket Wednesday.

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