Tesla Valuation Falls Below $1 Trillion as Sales Plummet in Europe
Tesla's valuation has fallen below $1 trillion (£789bn) for the first time since November after the electric car maker suffered a 45pc drop in sales across Europe. The company's shares fell by 9pc on Tuesday, as investors reacted to the latest sign that European motorists are snubbing the business in response to Elon Musk's support for US President Donald Trump. Shares in Tesla have fallen by almost 25pc in the last month alone, wiping $93bn from the company's valuation.
- The Tesla brand's decline in Europe may signal a broader shift in consumer preferences towards electric vehicles, with traditional brands potentially gaining ground on the luxury market.
- How will Tesla adapt to the changing European market and navigate the ongoing competition with established brands such as BYD in China?