Tesla’s European fleet woes: Resale values plunge, clients flee

As Tesla grapples with plummeting resale values and strained relations with European leasing giants, a campaign to salvage its corporate clientele emerges. Retail price slashes, aimed to counter a global EV market shift, backfire as leasing firms reel from depreciating fleet assets. Despite belated overtures, Tesla's rivals seize the opportunity, as Chinese EV makers offer enticing alternatives. With profits waning and competition mounting, Tesla faces a pivotal moment in retaining its critical fleet customers.

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By Nick Carey and Marie Mannes

Tesla is working to appease some European leasing companies after the automaker's repeated retail price cuts tanked their fleets' value and its slow service and expensive repairs alienated their corporate customers.

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