Europeans still aren’t buying Teslas with figures out Wednesday showing sales plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now.
Tesla sales fell 28% last month in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers’ Association. The poor showing comes after Tesla’s billionaire CEO had promised a “major rebound” was coming last month, adding to a recent buying frenzy among investors.
They were selling on Wednesday, pushing the prices down more than 4% in early afternoon trading.
Let’s keep it going, I wanna get paid for getting a Tesla.
Unless he steps down as CEO and sells all his shares I don’t see a Tesla redemption arc in Europe anytime soon.
That would also tank the stock price though.
Short term yes but I think they could quickly recover beyond where they are now if Tesla managed to keep some good press coming.