Tesla is Outpacing Competitors in Europe. Pricing Cuts Are Paying Off.
Mar 21, 2023
Prices being reduced by Tesla appear to be boosting sales in that region. According to figures revealed on Tuesday, the electric vehicle manufacturer's European sales increased more quickly than any other automaker in February.
According to the European Automobile Manufacturers' Association, registering Tesla (TSLA) vehicles in the European Union, representing sales, increased to 19,249 this February from 12,860 in the same month last year.
Tesla sales may have benefited from price reductions at the beginning of the year, which lowered the price of several of the company's most well-liked models in both the United States and Europe.
Tesla's over 50% increase outpaced those of competitors such as Volkswagen (VWAPY), which raised registrations by 18%. The German automaker intends to expand its presence in the electric vehicle industry.
Tesla registrations accounted for 2.4% of the overall EU passenger car market last month, up from 1.8% the previous year. Passenger automobile registrations in the EU increased by 12% yearly, while battery-electric vehicle registrations increased by 40%.
In premarket trading, Tesla shares were up 0.7%. On Monday evening, the company's debt rating was upgraded by Moody's.
Subscribe Our Newsletter
Milena
Traders Believe the Fed Will Ease Policy Soon. Let’s Hope They’re Mistaken.A premature change in interest rates may undermine public trust in institutions. Inflation might be the main winner here.
Banks and Finance
If that were the case, the S&P 500 would have peaked closer to 3,600 than 4,800 at the start of this year. That is the P/E multiple's power: At recent high valuation levels, the P/E multiple is five times more potent than earnings momentum, basis point for basis point.
Banks and Finance
Alexander
How Strong is The US Economy Today?The state of the US economy has been a topic of much discussion and speculation in recent times. With rising gas prices, unaffordable housing, and high interest rates, many people assume that the economy is in a dire state.
Liquidity