Reported about 20 hours ago
Tesla's stock fell sharply after a report revealed a staggering 45% drop in European sales, with only 9,945 EVs registered in January compared to 18,161 a year prior. The decline occurred despite a 37.3% overall increase in electric vehicle sales, attributed partially to the anticipation of the refreshed Model Y and competition from brands like Volkswagen and BYD. Elon Musk's controversial political actions, including support for the far-right AfD in Germany and a perceived Nazi salute, have further complicated Tesla's market position, contributing to the stock's year-to-date decline of 25% and a market cap under $1 trillion.
Source: YAHOO