In May, Tesla reported a significant 41% decline in year-over-year sales in Europe, reflecting ongoing challenges in global markets. The company's share in the U.S. dipped below 50%, and it faced intense competition from local EV manufacturers in China, leading to aggressive pricing strategies. Tesla's shift towards autonomous driving faces regulatory hurdles and skepticism due to troubling issues observed in robotaxi tests. Despite potential investor optimism for lower-cost, efficient EVs, current valuations suggest reliance on speculative AI rather than solid automotive fundamentals.
Tesla experienced a 41% year-over-year drop in sales in Europe in May, facing even greater challenges in maintaining its market share in China and the U.S. due to strong local EV competition.
The company's pursuit of autonomous driving as a growth strategy is hindered by regulatory obstacles and doubts about the technology, as initial testing of its robotaxis reveals significant malfunctions.
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