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Tesla Sales Decline in Europe Amid Broader Market Sell-Off
Tesla Sales Decline in Europe Amid Broader Market Sell-Off
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BTCCSquare news:
Tesla's European sales faltered for the seventh consecutive month, dragging TSLA shares down 4.25% this week and 25% year-to-date. Key markets like France, the Netherlands, Denmark, and Sweden saw registrations plummet by 27% to 86%, though Norway bucked the trend with an 83.4% surge.
The broader sell-off, exacerbated by trade war tensions, overshadowed Tesla's $4.3 billion battery supply deal with South Korea's LG Energy Solution. The partnership aims to circumvent tariffs on Chinese imports as manufacturers increasingly shift supply chains away from cost-prohibitive trade war battlegrounds.
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