Tesla (TSLA, Financial) experienced a decline of over 1% in pre-market trading. In Germany, known as the largest electric vehicle (EV) market in the European Union, Tesla faced significant challenges. According to KBA, an authoritative body in Germany, the country's overall EV sales surged by 54% in January compared to the previous year. However, Tesla's sales dropped by 1,875 vehicles.
This decline has significantly impacted Tesla's market share in Germany, which has fallen from 14% a year ago to just 4%, as consumers shifted their preferences towards automakers like Volkswagen, Seat, and BMW. Tesla also finds itself trailing behind brands such as Å koda, Mercedes, and Audi in this competitive market.
