DPA
Tesla in Norway: The approvals of the electric car manufacturer in the Scandinavian country recently plummeted.
Satisfactory business figures, a skyrocketing stock price and critics who, if they had Tesla shares, sometimes lost a lot of money: Tesla boss Elon Musk recently had a real run. But these figures should hardly please the entrepreneur: As the financial news site Bloomberg reports, the new registrations are from Tesla Show stock market chart plummeted in Norway and the Netherlands in the first weeks of this year.
For example, Tesla only registered 83 new registrations in Norway last month Bloomberg, In the same month of the previous year there were 1016. In the Netherlands, registrations in February also fell drastically by 68 percent to 155.
Overall, Tesla recorded a drop in approvals of 77 percent in Norway and 42 percent in the Netherlands in the first two months of the year, the report said. These declines are all the more remarkable because the sale of the new one started at the beginning of last year Tesla Model 3, which had pushed Tesla’s sales figures in the course of 2019, had not yet fully started. The comparative value from the previous year is actually at a relatively low level.
According to Bloomberg, there are several reasons for the drop in registration numbers. Norway, where in relative terms more electric cars have been sold in recent years than in any other European country, is showing signs of market saturation. In the Netherlands, on the other hand, there was no tax bonus at the end of 2019, which had apparently pushed sales of electric cars in the past. It had a comparable effect in other markets after the tax benefits no longer applied electric cars given for example in the USA,
Tesla could hit the declining sales figures in a sensitive spot. Norway and the Netherlands have so far been one of the US company’s most important sales markets. In no other European country has the company recently sold as many cars as in these two. More than 30,000 Tesla went to customers in the Netherlands in 2019 – significantly pushed by expiring tax benefits. In Norway sales were almost 19,000 units. For comparison: Tesla sold just under 11,000 cars in Germany in 2019.
In addition to the USA and China, the Netherlands and Norway are also the only countries for which the manufacturer reports sales figures. Accordingly, sales rose 65 percent last year in the Netherlands and 48 percent in Norway. Thus, Tesla was able to partially compensate for a 15 percent decline in the home market, Bloomberg said.
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An additional problem: Sales in China also suffered recently from the restrictions that the spread of the corona virus entails.
Meanwhile, Tesla’s stock continues to go up and down. After the enormous price increase in the first weeks of 2020, the upswing finally stalled. However, on Monday, Tesla’s share price rose 11 percent after falling 26 percent in the days before.