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Tesla blames sales drop on Houthi attacks and arson in Germany
TechCrunch
·
1y ago
Medial
Tesla reported disappointing first quarter delivery numbers, attributing the decline to an arson attack at its Germany factory and shipping disruptions caused by Houthi attacks in the Red Sea. The company delivered 386,810 vehicles in Q1 2024, a 20% drop from the previous quarter and the first year-over-year decline in three years. Production was also down, which Tesla attributed to the new Model 3 and the factory shutdowns. Tesla's stock fell over 6% following the news. The company faces increased competition in China and recently warned of potentially lower sales growth in 2024.
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Related News
Tesla’s year-over-year sales dropped for the first time since 2020
The Verge
·
1y ago
Medial
In Q1 2024, Tesla delivered 386,810 vehicles, falling short of the previous quarter and experiencing a year-over-year sales decline. The company attributed the decrease to issues with the production ramp-up of the updated Model 3 at its factory in Fremont, as well as shipping delays caused by external factors such as rebel attacks and arson. However, analysts see this as a significant setback for Tesla and believe that CEO Elon Musk needs to address the situation swiftly to regain momentum.
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The 'Volcano group' claiming the arson near Tesla's German plant
Reuters
·
1y ago
Medial
An extremist group known as "Vulkangruppe Tesla Abschalten" has claimed responsibility for a suspected arson attack on a power pylon near Tesla's factory in Berlin. The group, which identifies as a far-left militant organization, stated that the attack on Tesla was a means of liberation from patriarchy. Police are currently investigating the authenticity of the claim. Berlin authorities have previously listed "volcano groups" as left-wing extremist organizations known for conducting arson attacks in the city. The groups are ideologically aligned with anarchism and have targeted infrastructure related to transportation and digital industries in the past.
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Elon Musk's Tesla halts production at German factory after suspected arson attack
Livemint
·
1y ago
Medial
Tesla's factory in Germany had to temporarily halt production after electrical cables were set on fire in what is believed to be an act of sabotage by a far-left group. The fire damaged the power cables, cutting off electricity supply to the factory and nearby areas. The Vulkangruppe, a group of far-left activists, claimed responsibility for the act, expressing concerns over the plant's impact on the local environment. Tesla CEO Elon Musk criticized the attackers, calling them "the dumbest eco-terrorists on Earth." Investigations into the suspected arson are ongoing.
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Tesla will pause production in Germany as militant attacks in the Red Sea disrupt shipping routes
Business Insider
·
1y ago
Medial
Tesla will temporarily pause production at its gigafactory in Germany due to militant attacks on vessels in the Red Sea. The production halt will occur from January 29 to February 11 at the Grünheide gigafactory near Berlin. The attacks have disrupted transportation routes, affecting the global shipping industry. Tesla expects the disruption to result in a gap in supply chains and a potential loss of up to 7,000 vehicles being built. The company is already facing strikes in Sweden and mounting troubles in Europe.
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Protests, broken windows, even arson: Tesla’s massive Elon problem
Arstechnica
·
5m ago
Medial
Elon Musk's involvement in politics, particularly with US President Donald Trump, has tarnished Tesla's reputation, leading to protests and vandalism against the company. Once the leader in electric vehicles, Tesla now faces fierce competition from established automakers and Chinese startups. Declining sales in Europe and China further strain the company. Demonstrators across the US express anger at Musk's political influence, resulting in vandalism and arson targeting Tesla properties.
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With BYD in fast lane, Tesla's Europe sales in July decline over 50% on-yr
Economic Times
·
5d ago
Medial
Tesla's sales in Europe's key electric vehicle markets are declining, with July sales in Germany and the UK dropping by over 50% compared to last year. The slump continues despite increased production of the redesigned Model Y. China's BYD is capturing market share, quadrupling registrations in both countries. July saw BYD outselling Tesla in Germany for the third time this year. Analysts predict BYD could surpass Tesla globally for 2023, as it gains traction in Europe.
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Musk’s politics see Tesla sales collapse in Europe
Arstechnica
·
3m ago
Medial
Tesla is experiencing a significant sales decline in Europe, with drops over 50% in countries like the UK, France, and the Netherlands. Sales fell by 62% in the UK and 46% in Germany despite rising overall BEV sales. Contributing factors include an outdated product lineup, competition from Chinese and European brands, and CEO Elon Musk's controversial political stance. Meanwhile, Tesla’s production capacity remains underutilized, with only Italy and Norway seeing sales growth.
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Tesla continues to circle the drain
The Verge
·
2m ago
Medial
Tesla is facing a brand crisis in Europe, with sales dropping nearly 50% year-over-year in April, despite a rise in overall electric vehicle sales. This decline coincides with recent political controversies involving Elon Musk, who has supported far-right politics in Germany and been involved with the Trump administration. Competition from domestic and Chinese manufacturers is also intensifying. Musk's focus on other ventures, like AI and robotics, exacerbates Tesla’s challenges, leading to a weakened brand image.
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Used Tesla prices tumble as embarrassed owners look to sell
Arstechnica
·
4m ago
Medial
Tesla's reputation has declined, causing a significant drop in both new and used car sales. Used Tesla prices in the U.S. have fallen by 3.7% recently, about twice the overall car market decrease. This drop is linked to CEO Elon Musk's controversial actions, which have alienated some customers. Despite depreciation faster than the market average, some owners struggle to sell due to high purchase costs. The situation reflects challenges Tesla faces in maintaining its market position.
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Elon Musk says death threats due to his DOGE association are ‘next level’
Economic Times
·
4m ago
Medial
Tesla CEO Elon Musk has been receiving increased death threats due to his association with DOGE, describing them as "next level." He expressed concerns over his life expectancy and emphasized the seriousness of these threats. The comments were made during a town hall in Green Bay, Wisconsin, where Musk supported conservative candidate Brad Schimel. Additionally, Tesla faces coordinated attacks on its vehicles and infrastructure, and a decline in sales and deliveries in key markets.
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