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, 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.