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Sales of new Tesla cars slumped in Europe last month in the latest indication of a potential buyer backlash over Elon Musk’s high profile and controversial behaviour since becoming a leading figure in Donald Trump’s administration. The Texas-based electric carmaker sold less than 16,000 vehicles across Europe last month, down 44% on average across 25 countries in the EU, the UK, Norway and Switzerland, and Tesla’s market share fell to 9.6% last month, the lowest it has registered in February for five years. In January, its sales across Europe fell 45%, from 18,161 in 2024 to 9,945.
However, in the UK the Society of Motor Manufacturers and Traders reported an almost 21% rise in the number of new Tesla cars registered in February, with the Model 3 and Model Y proving the second and third most popular after the Mini Cooper.
Analysts have said that the volatile sales are also likely to have been affected by Tesla’s overhaul of the Model Y. A global analyst at Jato Dynamics, said: “Tesla is experiencing a period of immense change. In addition to Elon Musk’s increasingly active role in politics and the increased competition it is facing within the EV market, the brand is phasing out the existing version of the Model Y – its bestselling vehicle – before it rolls out the update. “Brands like Tesla, which have a relatively limited model lineup, are particularly vulnerable to registration declines when undertaking a model changeover.”
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Comments
Fundamental investors have never invested in Tesla for as long as Musk has been its CEO. Telling fundamentals to its stock investors has been a futile exercise.
Edit: https://youtu.be/iy2QU8CII0k?si=_FsgCD4DTe2nZr2P
One can find additional sources to corroborate the above sales info.
I guess the folks that have held it a while can afford to lose a bit shorter term. I’m not aware of anyone who posts on this board owning it currently. But 5 or 10 years ago there was a member who was loading up on the stock. Imagine he made out pretty well.
It’s likely nearly all of us own a bit indirectly through our funds, however.
Top 623 mutual funds with TSLA stock
Should I be happy when one of my funds has a very bad day because it holds TSLA stock? Interesting conundrum …
(I’ll note that CPLSX, which I own, has been shorting TSLA according to the above linked source. CPLSX is up about 3.5% YTD.)
Not familiar with European car buying habits, The Bloomberg video posted by @BaluBalu mentions heightened Chinese competition as one problem for Tesla. That’s what I’ve been hearing too. In the U.S. prices (of gas) at the pump have been stable lately, possibly taking away some of the perceived benefits of electric cars. Also, it seems as if Americans are waking up to the benefits of hybrids, which combine some of the fuel savings of all electric vehicles along with the convenience and reliability offered by petroleum fueled vehicles. I think a doubling of gas prices over a short period of time would greatly motivate buyers to buy Teslas and other all electric vehicles - whether here or in other countries.
https://bbc.com/news/articles/cd65d583qvzo
Noted that Warren Buffet owns BYD very early and have been selling them as they mature.
Your post belongs in Off Topic. I don’t think political action planning belongs in the investing section. Of course you are free to travel to whatever events you want and to voice those opinions.
@Old_Joe’s linked article and comments relate to TSLA from a financial standpoint. It’s been an incredibly strong performer for many years. As I noted above, if you own any growth funds or the S&P 500 you almost certainly own TSLA stock yourself.
Not trying to be the “cop on the beat”. Just trying to make the board a place where persons of all political persuasions feel comfortable sharing and benefitting from investment insights. Why would we discourage 50% of all investors from feeling welcome and participating here? Let’s keep financial content over here and political rants in OT. Thank you.
Why?
- Both sides of the political spectrum invest and know a lot about investing. It is not in our best interest to discourage input from either side. The more contributions and perspectives on investing, the better for all of us.
- MFO is funded by donations. Why discourage members of “the other side” from contributing? We all lose in that case,
- The Off Topic board has long been utilized for moaning, groaning and political venting. And I can’t ever recall any MFO participant complaining about that. I for one feel fortunate that Off-Topic exists as a place to share things like books, films, travel, songs and - yes, the often unseemly going-ons in our nation’s capital.
Thanks again.
@gmam57 Re: Shorting TSLA - Yes that would be an appropriate investing topic. In fact, @rono has started such a thread.
Shorting is fraught with risk. Losses can be infinite if the stock keeps rising. Even if you know you are right, at some point the costs of “covering” your shorts could drive you out of the market. I like to play the long-short game through funds. Even the experts find it a challenge (lackluster returns). But you won’t lose your house playing with them. In the L/S realm I own CPLSX and CPZ. Together they comprise near 20% of my portfolio. Both of those funds run by Calamos have indeed been shorting TSLA. Another one I used to own is NLSAX. Also a decent fund. Why Shorting Stocks is Risky
@gman57 - Here is the portion of your previous post (later deleted by you) which I objected to: ”Yes, I'm going to a takedown Tesla event 3/29. Sooner or later we each are going to have to stand up. I'm going to do it before it gets so bad it's no longer effective. Are you going to wait until we attack Greenland?”
I agree with @hank.
Since this discussion forum focuses on investing, I avoid posting overtly political messages
in the Fund Discussions and Other Investing categories. I'm not always successful in this regard...
I use Off-Topic when I critique the Trump administration or start a thread which can become "hot" politically.
It can be challenging to disentagle politics from financial impact in the current environment.
Just my 2¢...
What is alarming in Tesla’s problem in Europe is not just the falling sale, the overall EVs sale are growing nicely at the same time.
Tesla is also falling behind in China which is a bigger market than EU. BYD and several Chinese EVs are leapfrogging Tesla by their lower price points. Auto-driving is a FREE feature in BYD cars. On top of it, BYD now have a rapid 5 minutes charging time (even if that is true, fast charging is not good longevity for battery life).
Instead of shorting Tesla, why not buy BYD ADR stock, BYDDY?
by the smallest extension, they may want in-person feedback by mfo takedown attendees regarding turnout, newly announced plans, etc...
is this 'on-topic' enough? dont dump on plausible scuttlebutt.
my guess is its past MAGA capacity since the budlite boycott...which impacted investors who were relying on sales of really crappy beer brand by certain demographics.
Not easy to stand by as a convict takes over your country, hires a cabinet of circus acts and drives your country face down into the dirt.