April EV sales slow sequentially after strong March
Global EV sales were down 15% m/m in April, although anecdotal reports suggest that May saw an improvement. The major impact was in Europe where, once again, Tesla’s sales were very lumpy, declining by 47,000 units m/m. This has been a recurring theme over the past few years whereby Tesla’s sales (probably off the back of ship arrivals) are strong for one month of a quarter and then weak for the other two months. European EV sales were down 38% m/m at 207Kunits for the month of April, but still remain up 39% y/y YTD. That’s some way above where...