The electric car maker’s market capitalization fell below $1 trillion for the first time since November.
Shares of electric car maker Tesla are trading in red following a report showing that the company’s sales in Europe are nearly half year by year.
Sales of Tesla vehicles in the EU fell by more than 50%. The European Union saw a decline even if sales of new electric vehicles increased by 34% last month.
Tesla’s market capitalization, down about $914 billion, down below $1 trillion as of Wednesday, but far surpassing other major American automakers.
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Last year, Tesla reported 1.79 million units of delivery, up from about 1.81 million in 2023. This was the first DIP of delivery in the last nine years.
Future plans
On a recent shareholder deck, Tesla said:
“These vehicles will be produced on the same production line as the current vehicle lineup, taking advantage of the next-generation platform aspect and the current platform aspect,” the company said.
“This approach can achieve cost savings than previously expected, but allows for more careful growth of vehicle volumes in a more appropriate way during uncertain times.”
“You could fall asleep and wake up at your destination,” Musk said last year.
“The short-term thing is keeping things on a whim, but the investment case is solid in products scheduled to be released later this year,” it said.
“It’s notoriously difficult to create profitable EVs, and generating free cash flow is even more difficult. Tesla can do both.
