Aaahh now I get why #ElonMusk pivoted so hard to #politics! #Tesla is starting to fail as a company, making luxury cars while affordable electrics cars are in demand. And Europeans resent him getting involved in politics here, so avoid the company. Classic crony capitalism: use state power to prop up oligarchs. This is not innovation.
It goes to show you that it is at least as important to express one's opinions by choosing where one buys as it is to vote in elections.
https://www.fool.com/investing/2025/02/25/why-tesla-stock-is-plummeting-today/
@eighthave I'm afraid you have the causality inversed. Tesla is being shunned because Musk pivoted to far-right extremism, not the other way around.
Also the Tesla volume models 3 and Y are cheaper than their european competitors, so the "luxury" angle is incorrect too.
@bjst The European competitors are also too focused on luxury cars and government bailouts, and they are also failing. https://www.washingtonpost.com/world/2025/03/04/australia-chinese-electric-vehicles-byd/
