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Europe shuns Elon Musk’s Tesla as sales plummet

US President Donald Trump and Tesla CEO Elon Musk speak to the press as they sit in a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC
US President Donald Trump and Tesla CEO Elon Musk speak to the press as they sit in a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC (AFP/Getty)
  • Tesla's sales in Europe plummeted by 28 per cent in May, marking the fifth consecutive monthly decline.
  • This significant drop occurred despite a 25 per cent overall growth in the European battery electric vehicle market.
  • The poor sales performance led to Tesla's stock price falling by over 4 per cent, disappointing investors who had hoped for a rebound.
  • China's SAIC Motor surpassed Tesla in European sales, with its EV sales increasing by 38 per cent in May.
  • Federal regulators are investigating issues with Tesla's new driverless "robotaxis" service, while investors anticipate a cheaper Tesla model to boost future sales.
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