Tesla sees $100bn wiped off its value as Europe snubs Musk over his foray into politics

Tesla sees $100bn wiped off its value as Europe snubs Musk over his foray into politics
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Tesla sees $100bn wiped off its value as Europe snubs Musk over his foray into politics
Published: Feb, 25 2025 22:01

Summary at a Glance

The electric car giant sold just 9,945 vehicles last month – a 45 per cent drop from January last year – according to figures from the European Automobile Manufacturers Association.

The decline contrasts with a 37 per cent rise in electric car sales in Europe overall – fuelling speculation that Tesla has been hit by a backlash against boss Elon Musk and his foray into politics.

Slump: Tesla sold just 9,945 vehicles in Europe last month according to figures from the European Automobile Manufacturers Association.

The fall in Tesla sales in Europe last month follows the first annual decline worldwide in 2024 in a decade as the company battles fast-growing Chinese rivals.

As a ‘special government employee’ in the US, Musk, 53, has also teamed up with US President Trump to discredit Ukrainian president Volodymyr Zelensky and question polls showing he continues to have support in the country.

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