And this is *before* the regulatory credits went away 3 weeks ago, and *before* 7500$ / car subsides go away end of September. In Q3 Tesla will start seriously bleeding money.
Thing is, Tesla is not making much on each car they sell now, given how many discounts they need to offer. They were making a lot of money on regulatory credits, but these are likely to be gone already (in theory the companies should continue to buy them, but the Bill signed by Trump removes any penalties for not doing so effective immediately).
So yeah, sales may jump in the US (and will continue to crater in EU and China), but that won't do much for their profits. It can only help 'move the metal' as they say.
The decline corresponds with Musk interfering in European politics and performing fascist salutes at a political rally. Europeans aren't on board with swasticars.
The brand damage Musk has done can only start to be repaired after he leaves Tesla. The bad reputation is going to stick until then.
> Tesla sales continued to go down in Europe in the first half of the year.
The American EV maker recorded a 33% year-over-year drop in sales from January to June.
> From January to June, Tesla sold 108,878 cars in the region, while Volkswagen moved 133,465 EVs, a massive 78% year-over-year increase.
Look for the data table and note the heading "Difference from H1 2024"
> Overall, the European EV market increased by 24% year-over-year
The article you linked to explains how the VW brand has exceeded Tesla in sales. And Volkswagen Group owns many brands (VW, Audi, Skoda, SEAT, Cupra, Porsche, etc.).
It says right in the article: "For what it’s worth, Tesla was the best-selling EV company in Europe in June,"
So, if your supposition that Tesla wasn't going to regain what they once had, why were they once again #1 in EV sales in June? If they won't drive Swaticars why did they buy more of them than any other EV brand in June?
That's a highly selective read when the data shows Tesla dropping for the past six months, sales declining, even in June, and last month (June) likely not yet having a complete up to date third party picture across the board.
The part left out from your statement about June:
but that wasn’t enough to end the first half of the year in the first spot.
In fact, out of the top five best-selling EV makers in June, Tesla was the only one to see a drop.
With 32,605 cars sold, Tesla sales went down by 21% year-over-year in Europe.
Meanwhile, Volkswagen went up 9.%, BMW by 16%, Skoda by 189% and Renault by 23%.
confirms that Europeans are indeed moving away from "swasticars" in general despite some Europeans still buying a few.
I mean the business is suffering as all measures of profit and revenue have also dropped. They may have also increased capex, but doing that at the same time as income is cratering is not necessarily sound financial decision making. Especially when that capex is in "new" lines of business like AI that are unrelated to the manufacture of automobiles
