Tesla shares slump after European sales fall
Shares in electric car maker Tesla have slumped more than 9% after EU and UK sales fell by almost half in January. The drop in Tesla shares took the company's valuation back below $1trn for the first time since November 2024. Tesla has been facing stiff competition in the European market from Chinese and other manufacturers.
Slumping Tesla sales coincide with more Chinese cars in EU
January saw the number of Tesla vehicles newly registered within the EU decline by 50.3% compared to January 2024, according to industry association ACEA. Chinese manufacturer SAIC Motors saw a 76.5% plus in registrations during the same time period.
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