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.

  • wewbull@feddit.uk
    link
    fedilink
    English
    arrow-up
    5
    ·
    7 hours ago

    Cheaper and better EVs are here from lots of European, Korean, and (to a lesser degree) American brands.

    It’s been a long time since was “the only choice”.