Tesla's Sales Plummet Amid Musk's Electioneering
Tesla Inc.'s registrations plummeted in Germany last month as Chief Executive Officer Elon Musk irked voters taking part in the country's closely contested federal election, resulting in a 76% decline in sales to 1,429 cars. The poor showing was in stark contrast with overall electric vehicle registrations, which jumped 31% in February. Tesla's struggles in Germany are part of a broader trend, with the company's sales also down 71% in Germany and 44% in France through the first two months of the year.
- Musk's attempt to buy votes by endorsing the far-right Alternative for Germany party may have backfired, as Tesla's sales woes reflect a loss of credibility among German consumers.
- What role will Musk's personal brand play in salvaging Tesla's struggling sales, and how will the company's leadership adapt to address these challenges?