Business reporter, BBC News
Getty ImagesShares in electric car maker Tesla have slumped more than 9% after EU and UK sales fell by almost half in January.
The drop in Tesla shares took the company’s valuation back below $1trn for the first time since November 2024.
Tesla has been facing stiff competition in the European market from Chinese and other manufacturers.
In addition, Tesla owner Elon Musk has been making controversial political waves on both sides of the Atlantic, an analyst said.
Tesla sales in January bucked European electric car sale trends, which grew by more than a third in the month, according to trade body Acea.
Instead, Tesla sales across the EU, EFTA and the UK fell more than 45%, and more than 50% in the EU alone.
It comes after Tesla sales fell last year for the first time in more than a decade as demand faltered and rivals gained pace.
The main factor in the January sales slump was likely to be increasing…
