Tesla drops as Spain car sales tumble

Tesla TSLA.O stock dips 3.9% on Mon after new car sales in Spain tumbled 36% in April compared to yr-ago period

Over the first four months of 2025, sales of TSLA cars in Spain fell 17% over the same period a year earlier, while sales of electrified vehicles, a category that includes both fully electric vehicles and hybrids, were up 54%, per industry group ANFAC

Sales drop follows increased competition from European and Chinese EV brands, and protests against Elon Musk's embrace of far-right politics in Europe

TSLA's stock has sunk about 32% YTD, compared to Nasdaq's .IXIC 7% fall

Stock recently traded at 123 times expected earnings, above its avg. forward PE of 90 over past five years, per LSEG

TSLA stock about 43% below its 52-week intraday high of $488.54 reached on Dec. 18, 2024, that marked the peak of a rally following President Donald Trump's November election victory