By coinnews 
00:00 Speaker A
Tesla shares under pressure as sales for the EV maker across much of the European market continuing to slump. Yahoo finances Pras Subramanian joins us now with more, Pras.
00:11 Pras Subramanian
Yeah, you know, four or five months in a row now we’ve seen weakness there, and the new some new numbers came out recently from the various sort of uh auto bodies that are in European countries, and they talk about registration data because they don’t we don’t have official sales data, but you know, the numbers are pretty staggering. France down 67%, Sweden 54%, Denmark 30%.
00:40 Pras Subramanian
Well, we touched on Norway. For some reason, Norway up 200%. It’s really interesting. I also read Austria. Trump was I’m sorry, Trump. Musk, excuse me, was very Austria being that being higher. So, you know, you had a couple of things in play here, right? We had the new Model Y coming out. That may have helped sales in Norway. Unfortunately, the the cheapest version is not out yet fully in the European market, so we’ll see that happen. Maybe that’ll goose sales up a little bit, but I mean, the trend is unmistakable the last four or five months. It’s been very negative, very bad, uh down a lot, tumbling here. You know, is it is it new competition? Is it the Musk effect? Uh is it’s but it’s not EVs. EVs are actually up. Sales are up in the European market, not because of EVs. So something’s going on there and it’s a Tesla and or Musk problem.
01:57 Speaker A
And we know that for example, BYD outsold uh Teslas, didn’t it in in was it in Europe in April? I can’t remember which one.
02:12 Pras Subramanian
Exactly. In April, we saw that the first time it it crossed over, the pure EV sales of BYD’s topped Teslas. Volkswagen’s EVs are selling more than Teslas are.
02:24 Speaker A
I actually had a question on that, Pras. Is is it also are you seeing more European competition?
02:33 Pras Subramanian
Yeah, yeah, for sure, for sure. And maybe you’re seeing people substitute to towards a European uh competitors as an option. VW in particular is introducing more and more new EVs, cheaper EVs, better EVs. So yeah, there’s a lot going on there. Audi, BMW too. So not just Tesla.
02:59 Speaker A
Interesting. Thanks, Pras. Appreciate it.