Despite Slump In New Registrations, Tesla Touches 1M Vehicle Delivery Milestone In Europe
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) has reached the milestone of 1 million vehicles delivered in Europe, despite a 10% slump in new car registrations in September. The company's market share dropped to 2.8% last month. This comes amidst an overall surge in EU battery electric car registrations by 14.3%. Other automakers such as Volkswagen, Stellantis NV, and Renault Group saw a significant increase in new car registrations in September, while Ford Motor Co, Mitsubishi, and Tesla witnessed a drop.
October 21, 2023 | 5:41 am
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Tesla's milestone of 1 million vehicles delivered in Europe is overshadowed by a 10% slump in new car registrations in September. This could potentially impact the company's stock price in the short term.
The slump in new car registrations indicates a decrease in demand for Tesla's vehicles, which could potentially lead to a decrease in revenues and subsequently impact the company's stock price. However, the milestone of 1 million vehicles delivered in Europe shows the company's significant presence in the market.
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