"Tesla's U.S. sales dropped 23% to a three-year low of 39,800 in November, Reuters reports. Sales in China, the world's largest EV market by far, also signaled trouble. According to Barron's, "In November, the electric-vehicle maker sold just over 73,000 cars in China, down almost 1% year over year, according to industry data tracked by Citi analyst Jeff Chung." Tesla's problem in the European Union is worse than it first seems."
"Tesla's stock has shaken off the bad news about car sales. It is up 20% this year to about $485. What is more impressive is that its shares traded at $217 in March. This was primarily due to Musk's involvement with President Trump's effort to downsize the U.S. government, which eventually led to a falling out between the two. Tesla is the world's eighth most valuable company, with a market cap of $1.61 trillion."
Tesla's EU registrations fell 34.2% in November to 12,130 and declined 38.8% year-to-date to 129,024 for the first 11 months. U.S. sales dropped 23% to 39,800 in November. China sales were down almost 1% in November at just over 73,000 cars. BYD registrations in the EU rose 235.2% in November to 16,158 and rose 240% year-to-date to 110,715, making BYD a growing rival. Tesla's stock rose about 20% year-to-date to roughly $485, with a market cap near $1.61 trillion. Tesla is testing a self-driving robotaxi and plans trials in multiple U.S. states while facing competition from Waymo, Ford, GM and other entrants.
Read at 24/7 Wall St.
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