Sales of Tesla electric cars in Germany fell

The COVID-19 pandemic has hit stock markets around the world. Indices fell by more than 20%, and car manufacturers in particular were severely affected. The Tesla share price, which rose to a record high of 917.42 dollars on February 19, has since fallen by 61%.

The logic of investors taking money out of the automotive industry is simple. Under current conditions consumers are unlikely to pay for new cars. In addition, the demand for vehicles automatically reduces when travel restrictions come into effect.

In the case of Tesla, sales first sank in China when coronavirus began to spread there, but now it seems that it is not just the coronavirus. Sales of Tesla Model 3 in Germany fell by 36% year on year. And that's while the entire market for battery-powered electric vehicles has grown by 149% in one year.

At the same time, 2019 was so good for Tesla in Europe that the company decided to build its fourth gig factory near Berlin.

It should be added that in the Netherlands Model 3 sales decreased by 71.40% during the year, although the market as a whole grew by 49.98%, in Norway Model 3 sales decreased by 93.30%, the market grew by 19.80%, in Spain Model 3 sales decreased by 44.50%, although the market grew by 127.86%.

The source explains the increase in sales of electric vehicles by the fact that in January the emission limit came into force.

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