Tesla Registrations Take A Hit In The UK For November — Model Y Not Among Best Sellers
Portfolio Pulse from Anan Ashraf
Tesla Inc (NASDAQ:TSLA) experienced a significant decline in vehicle registrations in the UK for November, with only 1,648 vehicles registered compared to 6,025 in the same month last year, a drop of nearly 73%. This decrease has also affected Tesla's market share, which is now at 1.05%. Despite the Model Y's absence from the top ten best-seller list for November, it remains the sixth best-selling car year-to-date in the UK. Overall BEV registrations fell by 17.1% year-on-year, but year-to-date BEV registrations are up 27.%. The SMMT suggests that recovery depends on fiscal incentives and investment in charging infrastructure.
December 06, 2023 | 5:28 am
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Tesla's UK vehicle registrations dropped significantly in November, with a 73% decrease from the previous year and a reduced market share. The Model Y also dropped out of the top ten best-seller list for the month.
The substantial drop in Tesla's UK vehicle registrations and the Model Y's absence from the best-seller list for November could negatively impact investor sentiment and TSLA's stock price in the short term. The news directly relates to Tesla's performance in a significant market and could be seen as a sign of weakening demand or increased competition, which may concern investors.
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