Tesla sales drop sharply in Europe, bucking trend for EVs, as Elon Musk comes under mounting criticism
CBSN
London — Sales data show many Europeans, seemingly angry with Elon Musk as he navigates his close relationship with President Trump to influence U.S. policy, may be choosing to steer clear of Tesla vehicles. A sharp decline in sales comes as anti-Musk ads appear in the U.K. and other countries alluding a comparison to Adolf Hitler.
Tesla new vehicle sales fell across the continent by nearly half in January, plunging by 45% year-on-year, according to data compiled by the European Automobile Manufacturers' Association (ACEA). In hard numbers, Tesla sold just under 9,950 vehicles in Europe in January. For the same month in 2024, the company sold just over 18,100 new vehicles.
The drop in sales has hurt Tesla's share price, which had nearly doubled in the first month after Mr. Trump's election victory to a record high. Most of those gains have since been lost, and Tesla's market cap has plunged below the $1 trillion mark. The stock, which as of early Wednesday traded for roughly $305 in the U.S., remains up 54% over the last 12 months, buoyed by the company's ambitious plans for self-driving cars and humanoid robots.
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