Tesla's market value fell below $1 trillion, attributed to a nearly 50% drop in sales in Europe and the UK in January. This decline contrasts with a 34% rise in overall European EV registrations. Analysts highlight intense competition from Chinese companies, particularly BYD, which offers attractive standard features. Additionally, Elon Musk's political controversies may be steering customers away from Tesla. The company's recent sales decline and concerns about the economic landscape under Trump contribute to a grim outlook for Tesla's future in the EV market.
Tesla's recent drop in market value to below $1 trillion reflects declining sales and increased competition, particularly with Chinese EV makers like BYD.
Analysts suggest that Tesla's troubles are not only due to retail competition but also customer pushback against Elon Musk's controversial political activism.
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