Tesla's European sales keep collapsing even
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Tesla's European sales fell sharply last month, dropping 49%, based on data from the European Automobile Manufacturers' Association.
Cox Automotive's director of industry insights told BI that while Tesla has led the EV market for several years, the brand is facing an aging lineup.
Investors have been pouring back into Tesla stock since CEO Elon Musk said he would renew his focus on the EV maker. Sales in the first quarter showed Tesla is losing market share. Investors may not be optimistic about the sales data coming soon out of China.
Tesla's new car sales in Britain and Germany plummeted to their lowest in over two years in April, falling 62% and 46% year-on-year respectively, even as demand for electric vehicles rose in both countries,
Tesla's addition of Chipotle president Jack Hartung to its board of directors helped boost the stock last week. Hartung could aid the board in its quest to explore “alternative ways” to compensate CEO Elon Musk after a Delaware judge invalidated his $56 billion pay package.