Tesla Inc Asaw new registrations fall 24% year-over-year in April in Germany, while Volkswagen AG’s 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 Opel and Mercedes, a marque owned by Daimler AG , saw registrations rise 174.6% and 158.5% respectively.
Other brands that saw registrations rise include Nissan Motor Co, Ltd ,Hyundai Motor Company , and Mahindra & Mahindra Limited owned Ssangyong, which grew 146.1%, 135%, and 106.9% respectively.
Why It Matters:In April, it was reported that the Elon Musk-led company’s first-quarter Germanregistrations 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%.
Meanwhile, Tesla’s share ofnew 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.