Tesla's 45% Sales Drop Amid Musk Controversy

Tesla's sales in Europe dropped by 45% in January, with registrations falling to 9,945 units from 18,161 a year earlier, according to the European Automobile Manufacturers' Association. This decline comes amid a robust 37% growth in the overall European EV market, highlighting the intensifying competition from both European and Chinese manufacturers. The drop in Tesla's market share is partly attributed to CEO Elon Musk's controversial political activities, including supporting far-right parties in Europe and aligning with former US President Donald Trump. Furthermore, Tesla faced its first-ever yearly dip in deliveries in 2024, compounded by price competition with Chinese rivals and shifting consumer preferences towards hybrid vehicles. The unfavorable public perception of Musk in Europe, as evidenced by recent polls, may also be affecting Tesla's brand image and sales.