Why Tesla Stock Is Plummeting Today
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Shares of Tesla (TSLA) fell 7.3% on Tuesday, amid a broader market decline, as the company reported a significant drop in sales in Europe. New registrations of Tesla vehicles in Europe plummeted 45% year-over-year, contrasting with a 37% increase in overall EV sales. This decline is attributed to a manufacturing shift towards the Model Y and the controversial actions of CEO Elon Musk, whose political involvement has alienated many European consumers. Tesla's sales in the U.K. have now fallen behind those of Chinese rival BYD for the first time.
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