"Tesla's EV Dominance Wanes as European Market Challenges Musk"
Tesla's sales in Germany plummeted by 77% in December year-on-year, leading to a 9% annual decline in the country, despite the overall electric car market growing by 11%. This drop erased Tesla's gains in Germany for the year and was accompanied by a 9% annual drop in the UK. The decline comes as Tesla's main competitor, BYD, surpasses it in global sales for the first time in Q4. The sales dip may be partly due to customers waiting for the refreshed Model 3, and the reduction of government subsidies. Tesla also faced a temporary shutdown of its Model Y production line in Germany to manage inventories. Elon Musk is facing challenges in Europe, Tesla's biggest market, which could be a growing problem for the company.
