- cross-posted to:
- business@lemmy.world
- cross-posted to:
- business@lemmy.world
Europeans still aren’t buying Teslas with figures out Wednesday showing sales plunged for a fifth month in a row in May, a blow to investors who had hoped anger toward Elon Musk would have faded by now.
Tesla sales fell 28% last month in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers’ Association. The poor showing comes after Tesla’s billionaire CEO had promised a “major rebound” was coming last month, adding to a recent buying frenzy among investors.
They were selling on Wednesday, pushing the prices down more than 4% in early afternoon trading.
Sad part is that they’re getting outcompeted by the Chinese EVs, not the European carmakers. The whole money will just fund CCP’s ambitions instead of US ambitions, neither of which is good for European future
Even European brands like Polestar belong to Chinese companies by a large share. But yes, German car manufacturers were asleep at the wheel and now they even lobby against the combustion engine ban because they would be left with near zero business.
I hate how much BYD pays people off. And they’re suing people in China for “damaging their brand”. I guess so did Tesla that one time, but only one of them runs slave camps (including outside of China).
And this is only one of their dubious “techniques” to lower the costs: https://www.heise.de/en/news/Presumably-Chinese-industrial-spies-stole-VW-data-on-e-drive-technology-9692416.html