Tesla shares fell by more than 9% after sales in the European Union and the United Kingdom fell by almost half in January. This led to the company's capitalization falling below the $1 trillion mark for the first time since November 2024. The reasons for this drop were the growing competition and ambiguous statements by Elon Musk. The company's sales in the region fell by 45%, which contrasts with a 37% increase in the total number of electric vehicles sold in Europe during the same period. During the month, Tesla sold only 9,945 vehicles, which is significantly less than the 18,161 vehicles sold in January 2024. According to Russ Mold, investment director at AJ Bell, the main factor in the decline in sales in January was increased competition from Chinese manufacturers and other companies. He noted that the Chinese company BYD has achieved significant success, including due to the fact that many functions that other manufacturers offer for an additional fee are included as standard. In addition, Musk's actions are causing contradictory reactions both in Europe and in the United States. Some buyers may take a «principled position» on Musk's political statements.
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