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.
Had a conversation about this the other day with a coworker, albeit about ICE cars but still applicable I think. Car manufacturers made tremendous progress in effeciency and negated all of that by justifying making their cars 2x bigger than they were 20 years ago. It’s ridiculous. A modern Subaru Outback is about the same size as a mid-90s Suburban. Gets about the same mileage as my 2001 Outback, even with all the effeciency tech