Tesla losing ground in Europe should trouble investors, strategist says


View of the road sign “Tesla Straße 1” in front of the construction site of the Tesla factory. Tesla boss Musk visits the construction site of his electric car factory.

Jorg Carstensen | picture alliance | Getty Images

Tesla has been ceding ground in Europe, with its Model 3 now only the fourth-best selling pure electric vehicle (EV) on the continent, according to recent statistics.

The European EV market is now the biggest in the world in terms of sales following a surge in 2020 accompanying a slump in China. The portion of new car registrations that are electric is twice that of China and five times that of the U.S.

In a note Wednesday, Saxo Bank Head of Equity Strategy Peter Garnry said…


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