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Tesla UK sales up over 20% despite Elon Musk backlash

Nearly 4,000 new Teslas hit UK roads in February, with Model 3 & Model Y ranking among the top 3. Buyers seem unfazed by Musk’s controversies

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Tesla’s UK sales soared by over 20% in February, reaching nearly 4,000 vehicles. The rise in Tesla UK sales might come as a surprise, considering concerns over a consumer backlash tied to CEO Elon Musk.

On Thursday, March 5, The Society of Motor Manufacturers and Traders (SMMT) reported that the Tesla Model 3 and Model Y ranked second and third, respectively, as the UK’s most popular cars. The Mini Cooper was the most popular car in February.

Tesla sold 3,852 vehicles in the UK last month, with the Model 3 and Model Y driving its 20.7% year-over-year growth. SMMT data shows EVs now account for 25% of new registrations, fueled by demand for battery-powered models like Tesla’s Model 3 and Model Y.

The UK saw a 42% surge in electric vehicle (EV) registrations last month. The uptick lifted Tesla’s UK market share to 4.6% from 3.75% a year ago, defying fears that Musk’s political stances and criticisms might dent demand. Though Tesla’s European sales halved in January, UK buyers appear unfazed. While the broader car market dipped 1% to 84,054 registrations, Tesla’s gains signal resilience as buyers rush to buy EVs before a new tax hits in April.

SMMT chief Mike Hawes noted EV growth comes at a cost to manufacturers. “The good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support,” he said. “It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February.”

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Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Elon Musk

Tesla says it will be a victim of Trump admin’s tariff strategy

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Credit: Tesla

Tesla said in a letter to U.S. trade representative Jamieson Greer that it would be a victim of the Trump administration’s tariff imposition strategy, stating it would not be immune to rising costs that could increase the price of its electric cars.

In a letter from Tesla to Greer that was seen by Financial Times, the EV maker said it would be “difficult or impossible” to source some parts of its cars domestically due to supply chain limitations. While it “supports” fair trade, it let the Trump White House know that it would also be exposed to some of the impacts that could be felt as a result of the tariffs:

“Nonetheless, even with aggressive localisation of the supply chain, certain parts and components are difficult or impossible to source within the US.”

It also urged Greer to:

“further evaluate domestic supply chain limitations to ensure that US manufacturers are not unduly burdened by trade actions that could result in the imposition of cost-prohibitive tariffs on necessary components.”

Tesla also sends vehicles to countries like Canada, which are subject to tariffs. The company said the actions by the U.S. “have resulted in immediate reactions by the targeted countries, including increased tariffs on EVs imported into those countries.”

The letter, dated March 11, was written on the same day President Trump purchased a Deep Red Tesla Model S Plaid in an event in front of the White House featuring Musk alongside the President.

President Donald Trump buys a Tesla at the White House – Here’s which model he chose

Tesla’s a great company; they’re American cars, it’s American made. He employs thousands of people. He has the most modern plants in the world,” Trump said on Tuesday. “I know people that have these cars; It blows them away. They love them.”

The letter shows that, while Musk and Trump are currently working alongside one another to iron out government spending, a task the Tesla CEO took on willingly as he campaigned for the President last election season, one thing remains: business is business.

Tesla has pushed prices upward in Canada as a response to the tariffs. Other vehicles in the Tesla lineup, including the flagship Model X, have had their prices see minor increases as well, and this is for U.S. customers.

The Trump administration has played hardball with Canada with tariffs, only for our neighbors up north to impose countertariffs on electric supply to some of the states in the Northeast. It seems, at least early on in as Trump establishes a narrative in his White House of how the U.S. will be treated, there will be some effects that impact Musk’s companies as he works alongside the President.

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Elon Musk

President Donald Trump buys a Tesla at the White House – Here’s which model he chose

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Credit: cb_doge | X

U.S. President Donald Trump was greeted by a convoy of Tesla electric vehicles today at the White House after he said last evening he would be buying one of the company’s cars in support of Elon Musk.

A variety of Tesla EVs, including the Model S, Cybertruck, and Model Y, all arrived in Washington on Tuesday around lunch time where the President sat in, examined, and mulled over which car he would choose. White House Press Secretary Karoline Leavitt told reporters today that President Trump would be paying “full market price” for the vehicle.

CEO Elon Musk was alongside Trump to help make his decision:

Which Tesla did President Trump Choose?

After mulling the decision for several minutes, President Trump seemed to have gravitated toward the Tesla Model S Plaid in Deep Red, the company’s quickest and most luxurious offering, suitable for the leader of the U.S.

Trump said:

“The one I like is that one (Model S). And I want that same color. I’m going to give [Tesla] a check. I don’t want a discount.”

According to images shared from Washington, it seems Musk brought two Model S vehicles — one in Deep Red and another in Deep Blue Metallic — knowing that the President would probably choose that vehicle, but was unsure about the color.

Tesla makes a decision on the future of its flagship Model S and Model X

President Trump’s Comments on Tesla and Elon Musk

President Trump has truly gained a meaningful working relationship with Musk, who he has called “a genius” and “brilliant” on several occasions. Regarding Tesla, the President said:

“Tesla’s a great company; They’re American cars, it’s American made. He employs thousands of people. He has the most modern plants in the world.”

In regards to the Tesla lineup, President Trump said:

“I know people that have these cars; It blows them away. They love them.”

When talking about the polarizing design of the Cybertruck, he said:

“In terms of imagination, and I think I have a pretty great imagination, who else but this guy would design this and everybody on the road is looking at it. As soon as I saw it, I said, ‘That’s the coolest design.’ You gotta give him (Elon) credit.”

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Tesla stock predicted to rebound +90% within the next year: Morgan Stanley

Morgan Stanley sees Tesla’s 50% drop as a chance to buy! Analyst Adam Jonas predicts a +90% rebound fueled by AI development.

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Credit: Tesla

Morgan Stanley analyst Adam Jonas predicts Tesla stocks will rebound over 90% within the next year.

Jonas reiterated his overweight rating for TSLA and still considers Tesla a top-pick stock. Tesla’s share price recently dipped 50% compared to its high record in December 2024. The Morgan Stanley analysts set a $430 price target for Tesla.

Jonas’ TSLA price target hints that he believes Tesla’s stock could rebound roughly 93% from its current value. Morgan Stanley sees Tesla’s current share price of $223.59–as of this writing–as a buying.

“We see the pullback as a buying opportunity for an embodied [artificial intelligence] compounder,” said Jonas in a recent note.

https://www.teslarati.com/tesla-tsla-stock-ron-baron-investor/

Jonas acknowledged Tesla’s challenges, including reduced sales, the company’s souring brand sentiment, and “a de-grossing of the market.” He pointed out that Tesla’s reputation is being reshaped as media narratives focus on Elon Musk’s political activities instead of the company’s efforts in AI.

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The Morgan Stanley analyst has a $200 bear case scenario on Tesla, which he believes the stock could reach. On the other hand, he also believes Tesla stocks could rebound and reach his $800 bull case scenario within the next 12 months.

Jonas believes there will be a few catalysts that could bring TSLA stock back up. For instance, Tesla’s Full Self-Driving (FSD) Unsupervised will be available for paid rideshare services later this year in Texas. While the Tesla Cybercab is still in the distant future, FSD Unsupervised rides with the Model 3 or Model Y would showcase the potential of the company’s robotaxi fleet.

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