this post was submitted on 03 Feb 2025
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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.

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[–] merc@sh.itjust.works 58 points 2 weeks ago (26 children)

The people who buy electric vehicles are left-leaning people who believe in climate change. If I were a major Tesla shareholder I'd be howling to have Musk ejected while the company still has a chance to retain some goodwill.

[–] CleoTheWizard@lemmy.world 37 points 2 weeks ago (14 children)

Why? Shareholders do not care about the health of the company so long as its stock price is high. And Teslas stock price is not based on any fundamental principle of investing.

Their market cap, or the total value of all their shares, is currently worth more than the next 30 largest auto manufacturers COMBINED.

Let me put it this way: Every single car sold in the United States this year could be made by Tesla and they still wouldn’t even be close to being worth what they are right now based on company fundamentals. Thats how insane this is. Shareholders of the company couldn’t be happier and yet their company is declining in sales and killing off its customer base. Absolutely insane.

[–] lazynooblet@lazysoci.al 43 points 2 weeks ago

That sounds like a bubble that needs a pin 📌

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