Tesla is experiencing a dramatic 45% drop in sales across Europe, a trend that has raised concerns among investors and consumers alike. This decline is largely attributed to CEO Elon Musk's controversial political affiliations, notably his support for far-right movements and their agendas.
As a consequence, many potential buyers feel alienated and are turning away from the brand. The impact of this downturn has been felt on the stock market, with Tesla shares plummeting by 10% following the news.
In a broader context, while the electric vehicle market in the EU is growing, Tesla's sales have halved, allowing competitors like Volkswagen to take the lead. Additionally, current Tesla owners are facing significant depreciation in their vehicles' values, further exacerbating the company's challenges.
As the automotive industry grapples with shifting consumer preferences and regulatory pressures, experts warn that Tesla's recent struggles may signal deeper issues within the company.
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