Tesla Is Getting Absolutely Destroyed in Europe

Elon Musk may be "saving" money for the federal government, however questionably — but it'll take a minor miracle for him to salvage his automaker's situation across the pond. According to the latest data from the European Automobile Manufacturers' Association (ACEA), sales of new Tesla cars in the continent have plummeted to just 9,945 vehicles in January, down from 18,161 in the same period last year, per the Guardian. That's a whopping 45 percent decrease. As sales collapse, the automaker's usually stellar stock position has also taken a ding, despite soaring to an all-time high in the wake of Donald Trump's election victory. As of Tuesday morning, Tesla shares dropped by more than 8 percent, for a cumulative decline of 23 percent in the last month of trading. While other major stocks are trending downwards, "Tesla shares are now by far the biggest decliner among the mega-cap technology stocks, weighing heavily on the group's overall performance," according to Bloomberg. The uni ... Read full article.