Tesla Sales Plunge 63% in EU’s Second-Biggest EV Market
www.bnnbloomberg.ca
Tesla Inc. registrations plummeted 63% last month in France, the European Union’s second-biggest market for battery-electric vehicles.

Summary

Tesla’s registrations in France dropped 63% in January, their lowest since August 2022, far outpacing the broader total EV sales’ 0.5% decline.

Tesla registrations across EU countries fell 13% last year, with Germany accounting for much of the decline.

Sales in Germany, Tesla’s biggest European market, also fell 41% last year due to an aging lineup, competition, and subsidy cuts.

CEO Elon Musk’s political involvement, including support for Germany’s far-right party, may be affecting demand.

  • bestboyfriendintheworld@sh.itjust.worksEnglish
    2·
    5 hours ago

    People are still betting big on Tesla’s self driving and other technological advances.

    Value of a stock isn’t just the current market success, but also perceived future value.

    That said, Tesla is overvalued for sure.

    • CleoTheWizard@lemmy.worldEnglish
      1·
      3 hours ago

      I think that type of speculation is acceptable usually but their self driving tech hasn’t significantly improved in a while and has been out for years, so those expectations should be mostly priced in by now.

      You add that to their falling sales figures and the fact that they spent crazy money developing cyber truck and have had multiple recalls on it already, the stock is completely out to lunch. Usually they’re somewhat in touch with reality. Like Apple is a bit out to lunch but its movement is still news-based somewhat. Not the case with Tesla, they’re not out to lunch they’re out till next year in Tahiti

    • Blackmist@feddit.ukEnglish
      2·
      5 hours ago

      I’d say they’re more betting on his ability to convince road safety regulators to allow his automated death trap Johnnycabs onto American roads.