Tesla Faces Market Share Drop In The UK Despite Rising EV Sales — Model Y Popularity Sees A Dent
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) saw its market share in the UK drop in September compared to a year ago, with its Model Y slipping out of the top ten bestseller cars list. According to the Society of Motor Manufacturers and Traders (SMMT), only 6,427 new Tesla vehicles were registered last month, a 35.6% slump from the 9,975 vehicles registered in September 2022. However, the Model Y remains on the year-to-date bestseller list at the fourth position.
October 26, 2023 | 4:47 am
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Tesla's market share in the UK has dropped, and its Model Y has slipped out of the top ten bestseller cars list. However, the Model Y remains on the year-to-date bestseller list at the fourth position.
The drop in Tesla's market share and the Model Y slipping out of the top ten bestseller cars list in the UK could negatively impact the company's stock price in the short term. However, the Model Y remaining on the year-to-date bestseller list at the fourth position could mitigate this impact to some extent.
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