Tesla’s European Freefall Continues—Musk’s Political Retreat Changes Nothing
Elon's out of politics, but Tesla's still tanking in Europe. Here's why the 'technoking' can't spin this one.
Blood in the water
European sales charts look like a BTC crash simulator—all red arrows and margin calls. Berlin gigafactory? More like ghost factory.
Legacy automakers eating lunch
VW and Renault are gobbling market share while Tesla's demand collapses faster than a shitcoin project. Those Q2 delivery numbers? Oof.
Bonus finance jab
At least TSLA bagholders can comfort themselves with those sweet, sweet memestock dividends... oh wait.
Tesla’s share price has remained resilient despite weak European sales
Following the launch of its driverless taxi service in Austin on Sunday, TSLA stock jumped nearly 6%. Musk has said these robotaxis, powered by advanced artificial intelligence, are the future of the company and could push Tesla’s value as high as $5 trillion, about five times today’s market capitalization.
The rollout of robotaxis was modest at first. Only around ten vehicles are operating, confined to a few areas, and each still needs a person behind the wheel for safety. Riders pay a flat fare of $4.20, as Tesla seeks to begin earning from autonomous rides even as sales of new cars slow.
Still, not everyone shares Musk’s optimism.
Barclays’ Dan Levy warns that moving to a large-scale fleet of self-driving cars will take much longer than some hope. “We believe the much better question ahead is on the path of scaling, which we believe will be long,” he said, “and we caution against over-optimism,”
Chinese manufacturer BYD recently outsold the US EV giant in pure electric models in Europe for the first time.
Data from JATO Dynamics show that in April, BYD’s European deliveries jumped 359% year-on-year, despite higher tariffs on Chinese imports imposed by the EU last October. Over the same month, Tesla’s volumes fell by 49%. These figures cover 28 European countries and underscore how quickly the EV market is evolving.
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