Musk, not BYD, is behind Tesla's sales crash in Germany
What's the story
Tesla's sales in Germany have taken a major hit, crashing by 76% last month. Only 1,429 Teslas were registered during the period, the German Federal Motor Transport Authority reported.
The sharp decline stands in stark contrast to the overall electric vehicle (EV) registrations in Germany which witnessed a 31% rise in February.
The downturn can be blamed on CEO Elon Musk's controversial endorsement of the far-right Alternative for Germany (AfD) party.
Political fallout
Musk's endorsement sparks controversy
Musk's endorsement of AfD, an anti-immigrant and pro-Russian party, has ruffled feathers among German voters. The party has been critical of Germany's political establishment.
Even though AfD came second in the elections, Friedrich Merz, the next Chancellor, has vowed to keep himself away from the party.
This political fallout could have also led to Tesla's sharp decline in sales in Germany.
Market trends
Tesla's sales decline across Europe
The decline in Tesla's sales isn't just limited to Germany.
For the first two months of this year, Tesla's sales have plummeted by 71% in Germany and 44% in France. The two countries are the biggest EV markets in the European Union.
However, there is some silver lining from the UK where Tesla's registrations have risen by 11% during the same period.