A Tesla showroom in France experienced a devastating fire incident, resulting in significant losses. The fire occurred in the early hours of Thursday in the small town of Pennes-Mirabeau, outside the French city of Marseille.
Incident Details
- Nearly 50 firefighters arrived at the scene to extinguish the fire in the parking lot of the showroom.
- Unfortunately, over 24 Tesla vehicles were destroyed in the blaze.
- Authorities have reported no casualties in the incident.
Preliminary Investigation
- A hole was found cut out of a fence surrounding the showroom, leading officials to suspect arson.
- Tesla will conduct an internal investigation into the incident.
Tesla’s French Growth and European Sales
Contrasting Trends
Despite the recent surge in Tesla sales in the French market, with an 83% year-over-year increase in October, the company’s European sales have fallen. In September, Tesla’s European sales declined by 10.5% year-over-year, despite the Model Y emerging as the best-selling vehicle in the region.
Key Sales Figures
- Tesla sold 39,837 units in September.
- Year-to-date sales clocked in at 173,694 units, representing a 29% year-over-year drop.
Stock Performance
- Tesla stock ended the day 6.6% lower at $401.99 in regular trading.
- The shares declined 0.4% to $400.40 in the after-hours session.
Tesla’s Market Outlook
- The company scores well on Momentum and Quality metrics, offering satisfactory Growth, but poor Value.
- Tesla has a favorable price trend in the Short, Medium, and Long term.