$Tesla(TSLA.US) sales in Europe declined by -47% during February, a second straight month of declines, due mainly to the absence of new Model Y inventory as TSLA changed over its best selling CUV to the Model Y Juniper. In China TSLA weekly insured registrations were 17.3K for the week of Mar 17-23, a new YTD high as refreshed Model Y production continued to ramp higher.
The sharp drop off in TSLA 1Q delivery ests that has pummeled TSLA shares so far in 2025 (TSLA -31%, NDX -4% YTD) is highly likely due to the changeover of the new Model Y Juniper and customers waiting for the new model rather than Elon’s political rhetoric and DOGE actions. In the U.S., third-party U.S. credit card data sourced from Bloomberg shows that weekly YoY orders through 3/16 have not changed much from a quarter earlier and daily orders through 3/16 are actually trending higher. Model 3 shipments are steady YoY even after normalizing for last year’s 1Q shipments by using the average over the year for the 2024/1Q period.
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