Volkswagen and BMW They took the market leadership from Tesla electric cars in Germany by patenting more vehicles than the American company so far in 2024, according to records from that country’s Motor Transport Authority.
This comes at a time of prosperity for the billionaire businessman. Tesla shares rose again today, extending a booming rally fueled by investor bets that the automaker will benefit from Musk’s support for the US president-elect. Donald Trump.
The stock is up nearly 28% since Trump’s election victory was declared last Wednesday.
Musk backed Trump for months in hopes that his close ties to the now-president-elect would position his companies to benefit from the new administration, analysts have noted.
The billionaire contributed at least $119 million to a pro-Trump spending group, federal records show.
Meanwhile, in Germany, Musk lives another reality. So far in 2024, Volkswagen has patented 49,200 fully electric vehicles, while in the case of BMW, sales have risen to 33,167 units.
On the other hand, Tesla’s registrations have not stopped falling over the last ten months until they stand at 31,461 vehicles. This situation occurs in a context of demand crisis for electric cars in Germany.
Volkswagen sold 9,400 fewer cars than last year at this time of year, while Tesla collapsed with 23,300 vehicles less.
Unlike these two automotive companies, BMW is in a growth stage in its country with an increase of 6,600 units compared to 2023 figures.
This war between Tesla and the two German giants occurs while the conflict continues between European automakers and Chinese companies seeking to gain market share on that continent.
The Chinese Ministry of Commerce maintained, last week, that “some progress was made” in the negotiations held between technical teams from the European Union (EU) and China to find a solution on import tariffs for electric vehicles from the Asian country.
“The technical teams of both countries held several rounds of consultations in Beijing in which they exchanged views on the specific content of the EU price commitment plan for this case. They made some progress and the two sides agreed to continue consultations through video or with other means,” said a statement after that meeting.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
