Tesla Sales Plunge 63% in EU’s Second-Biggest EV Market
www.bnnbloomberg.ca
Tesla Inc. registrations plummeted 63% last month in France, the European Union’s second-biggest market for battery-electric vehicles.

Summary

Tesla’s registrations in France dropped 63% in January, their lowest since August 2022, far outpacing the broader total EV sales’ 0.5% decline.

Tesla registrations across EU countries fell 13% last year, with Germany accounting for much of the decline.

Sales in Germany, Tesla’s biggest European market, also fell 41% last year due to an aging lineup, competition, and subsidy cuts.

CEO Elon Musk’s political involvement, including support for Germany’s far-right party, may be affecting demand.

    • Supervisor194@lemmy.worldEnglish
      531·
      24 hours ago

      One of the few conspiracies I actually subscribe to is that there is no legitimate stock market anymore, it is 100% under price control. Wins and losses - such as they are - are being determined by huge banks and hedge funds using AI algorithms, dark pools and phantom shares to maintain an iron grip. I got started down this path when I read Michael Lewis’ book Flash Boys, which, like this video was made over 10 years ago.

      • grue@lemmy.worldEnglish
        33·
        23 hours ago

        I don’t know that there’s any sort of conspiracy, but it’s definitely true that a huge part of the market is in “dumb money” – index funds that just buy every stock weighted by market cap, and thus exert no influence on what the companies actually do.

      • thisorthatorwhatever@lemmy.worldEnglish
        6·
        23 hours ago

        I also suspect that because so much manufacturing is in China, what we think of as the world’s stock market is just a small fraction of anything. Does an index count if an index doesn’t measure much?

    • dogslayeggs@lemmy.worldEnglish
      43·
      1 day ago

      They released info to shareholders last week that showed an 8% drop in year over year sales… and yet the stock went up. Maybe people expected the drop to be even higher, so the drop was already priced in?? But it just feels like there is market manipulation going on.

    • grue@lemmy.worldEnglish
      22·
      23 hours ago

      My guess is that, with Musk basically in charge of the government now, investors are expecting huge returns from corruption.

      • merc@sh.itjust.worksEnglish
        15·
        22 hours ago

        Yeah, the guy who apparently now controls the strings of the government could just click a button to have the government order 1 million Teslas.

        Other than investing in the hopes of seeing returns from corruption, it doesn’t really make any sense.