Tesla sales plummet 45% in Europe – what does it mean for investors?
· 2d · on MSN
Tesla shares slump after European sales fall
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.
Elon Musk-led EV giant Tesla’s sales in the European Union (EU) is plummeting. The Cybertruck maker’s shares dipped below $1 trillion amid a sales slump in Europe.
Tesla has agreed to buy assets of embattled German engineering group Manz as the US electric vehicle maker expands its footprint in the European market despite plummeting sales in the region.
Tesla, with relatively shallow vehicle sales growth, if any. Read why I continue to rate TSLA stock as a Hold.
The Cybertruck has a cult following in the U.S., but safety issues such as excessive size and acceleration and sharp edges make the Tesla illegal on U.K. roads.
The backlash gets local In Washington state, where Tesla is the only EV-maker allowed to make direct, in-person sales to customers, Democratic state Sen. Rebecca Saldaña introduced a bill to revoke the company’s grandfathered-in status and sponsored another that would allow all EV-makers to make direct sales.
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