TSLA: Tesla Stock Wipes Out $100 Billion as Data Shows Europe Sales Are Down 45%

Old continent’s EV sales were actually up 37%. Just not Tesla — is Elon Musk’s political disruption turning off customers?

🏡 Tesla Losing Market Share Fast

• Tesla stock TSLA skidded nearly 9% on Tuesday, erasing $100 billion from its market cap, after fresh data suggested that the EV maker’s market share in Europe has shrunk by half. The surprising estimate by the European Automobile Manufacturers’ Association pointed out that Tesla sold 9,945 cars in January, down 45% year over year.
• Oddly, this seems to be a Tesla problem. Sales of electric cars in the old continent actually rose 37% during the same time — a sign of Tesla losing its spot as the leading electric car manufacturer.

👔 Is Musk a (Legit) Politician?

• Analysts suggest that the sales slump is to a large extent a reflection of consumers’ deteriorating impression of the company’s CEO, Elon Musk. The billionaire’s foray into US politics (and beyond) appears to be turning off customers who oppose his aggressive and disruptive approach.
• In Europe, there’s already an anti-Tesla campaign across the continent’s biggest market where Tesla owners sell their cars and opt for alternatives, such as Rivian RIVN vehicles.

👋 Euphoria to Heartache

• Shares of Tesla enjoyed a postelection bonanza thanks to Musk’s ties with President Trump. But that euphoria has turned into a painful heartache for Tesla holders as the stock is down 20% this year and more than 35% from its all-time high of $480 on December 17.
• On its way down, Tesla lost its ticket to the trillion-dollar club to close Tuesday’s session at $302.80 a share. Currently there are 3.2 billion shares outstanding, slapping a $948 billion price tag on the company.