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.
Honestly I don’t think it’s really due to Elon hate. Sure people might not like him there much but it’s not nearly as intense as the left/right divide in the US.
The real reason is that in Europe they aren’t banning Chinese cars outright, so they have to compete against Chinese cars that are amazingly advanced for the price.
Anyways I’m sure Tesla’s plan to drop the $25000 model is working out just fine.