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Tesla Saw New Registrations Drop 25% In Germany In April, While Volkswagen Saw 108% Rise

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Tesla Saw New Registrations Drop 25% In Germany In April, While Volkswagen Saw 108% Rise

Tesla Inc (NASDAQ: TSLA) saw new registrations fall 24% year-over-year in April in Germany, while Volkswagen AG’s (OTC: VWAGY) secured a 108.4% rise.

What Happened: Tesla new registrations in Germany totaled 484 in April, while in the preceding month the tally was at 3,703 — a fall of 86.93%, according to data released by the country's federal motor transport authority, Das Kraftfahrt-Bundesamt.

Comparatively, Volkswagen saw registrations totaled 43,230 in April 2021; in March the number was 56,550, indicating a month-over-month fall of 23.5%. The automaker secured the largest share of new registrations in April at 18.8%.

Notably, all German brands saw a YoY rise in registrations. Stellantis N.V.’s (NYSE: STLA) Opel and Mercedes, a marque owned by Daimler AG (OTC: DDAIF) (OTC: DMLRY), saw registrations rise 174.6% and 158.5% respectively.

Other brands that saw registrations rise include Nissan Motor Co, Ltd (OTC: NSANY), Hyundai Motor Company (OTC: HYMTF), and Mahindra & Mahindra Limited (OTC: MAHMF)=owned Ssangyong, which grew 146.1%, 135%, and 106.9% respectively. 

See also: How to Invest in Tesla Stock

Why It Matters: In April, it was reported that the Elon Musk-led company’s first-quarter German registrations rose 83% YoY, but it was bested by Daimler’s Smart, whose registrations soared 313.8% in the same period.

In April, Smart registered 2,271 vehicles, while in March that number was 2,592 vehicles — a fall of 12.38%.

See Also: Tesla Sales Climb 1,300% In Japan As Gigafactory Shanghai Allows More Efficient Deliveries

Meanwhile, Tesla’s share of new registrations in China continues to grow. 34,635 new registrations were recorded in March of the company’s vehicles, compared with 18,155 registrations in February. 

Price Action: Tesla shares closed 1.1% lower at $663.54 in Thursday’s regular session and gained 0.22% in the after-hours trading. On the same day, Volkswagen OTC shares closed 0.32% higher at $31.42.

Read Next: Tesla Former Board Member Says Elon Musk Company Won't Remain 'King Of The Hill In Electric Forever'

Click here to check out Benzinga’s EV Hub for the latest electric vehicles news.

 

 

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