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.
In addition, Tesla owner Elon Musk has been making controversial political waves on both sides of the Atlantic, an analyst said.
Tesla sales in January bucked European electric car sale trends, which grew by more than a third in the month, according to trade body Acea.
Instead, Tesla sales across the EU, EFTA and the UK fell more that 45%, and more than 50% in the EU alone.
Nya brittiska regler kan tvinga Apple och Google att öppna sina appbutiker
Google och Apple tvingas till förändringar i hur deras mobila plattformar fungerar, efter att Storbritanniens konkurrensmyndighet beslutat att de ska stå under striktare tillsyn. Den brittiska myndigheten Competition and Markets Authority (CMA) har gett de båda företagen så kallad ”strategisk…
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