Electric car maker Tesla plans to produce a new version of its world-best-selling Model Y at its giant factory in Germany.
Tesla plans to start producing a new version of its best-selling Model Y at its giant factory in Germany from January 14, amid weak sales in the country.
Last week, Tesla showed off the new Model Y for the first time. It is now available to order in China and other Asian markets, but it is unclear when it will go on sale in Europe.
Tesla's sales fell in 2024 for the first time in more than a decade. At 1.79 million vehicles, Tesla's sales were down about 1.4% from the previous year.
Poor sales in Germany in particular are weighing on Tesla’s balance sheet. Tesla recently sold just 38,000 electric vehicles in Europe’s largest market, down 40% from the previous year.
This means that the former market leader in electric vehicles is falling behind its German rivals, with Germany’s Volkswagen Group selling around 135,000 electric vehicles in the same period.
TB (summary)