Satisfactory business figures, a skyrocketing share price, and critics who, if they had shortened Tesla shares, sometimes lost a lot of money: Tesla boss Elon Musk recently had a real run. But these numbers should hardly please the entrepreneur: As the financial news website Bloomberg reports, the new registrations of Tesla stock market chart show in Norway and in the Netherlands plummeted in the first weeks of this year.
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 at the beginning of last year sales of the new Tesla Model 3, which had boosted Tesla's sales in 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 various reasons for the drop in registration numbers. Norway, wherein 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. There had already been a comparable effect in other markets after the elimination of tax advantages for electric cars, 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 last year by 65 percent in the Netherlands and 48 percent in Norway. With this, Tesla was able to partially compensate for a 15 percent decline in the home market, according to Bloomberg.
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.
Norway and the Netherlands
For example, Tesla registered only 83 new registrations in Norway last month, Bloomberg said. In the same month of the previous year, it was 1016. In the Netherlands, registrations in February also fell drastically by 68 percent to 155 |
| Tesla Model S and X presented during the Norwegian Winter |
According to Bloomberg, there are various reasons for the drop in registration numbers. Norway, wherein 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. There had already been a comparable effect in other markets after the elimination of tax advantages for electric cars, 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 last year by 65 percent in the Netherlands and 48 percent in Norway. With this, Tesla was able to partially compensate for a 15 percent decline in the home market, according to Bloomberg.
China
An additional problem: Sales in China also suffered recently from the restrictions that the spread of the coronavirus 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.
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