BUZZ-Tesla tumbles after data shows sales slump in Europe
ReutersFeb 25, 2025 4:44 PM
Shares of Tesla TSLA.O down 9% and on track for deepest-one day slump since last July after fresh data showed the co's sales in Europe dropping by almost half in January
Figures from the European Automobile Manufacturers Association showed TSLA sales dropping 45% in Europe, while overall sales of EVs in Europe jumped 37%
With Tues' tumble, TSLA now at lowest since November 8, when the stock was in the midst of a rally after Donald Trump, who is close to TSLA CEO Elon Musk, won the November 5 presidential election
Stock recently traded at 112x expected earnings vs an avg of 93x over past 5 yrs, per LSEG
While TSLA posted a dip in deliveries in 2024, bulls point to co's plan for a new, cheaper EV and a paid autonomous car service
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