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Market Chatter: Tesla Increases Market Share in Sweden Despite Labor Conflict
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Market Chatter: Tesla Increases Market Share in Sweden Despite Labor Conflict
Oct 2, 2024 10:10 PM

08:58 AM EDT, 10/01/2024 (MT Newswires) -- Tesla (TSLA) gained a bigger market share in Sweden in 2024 despite an ongoing labor conflict affecting the company, Reuters reported Tuesday, citing car sales data from Mobility Sweden.

The company sold 16,478 cars in the first nine months of 2024, a 1% increase from the same period in 2023, Reuters said, adding this raised Tesla's market share to 8.5%, up from 7.8% last year.

Tesla mechanics in Sweden launched a strike in October 2023 and more than a dozen unions have staged sympathy actions, with labor union Vision the latest to announce that up to 40 members at Gothenburg's power company will stop servicing Tesla charging points unless the conflict is resolved by Oct. 10, according to the report.

Dockworkers in the Nordic region have tried to prevent Tesla from bringing in cars to Sweden, but the Swedish transport union said Tesla has circumvented the blockade by using trucks and trains for delivery, Reuters said.

Tesla did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 262.75, Change: +1.12, Percent Change: +0.43

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