Elon Musk takes over European sales as Tesla's stock continues to plummet

From Yahoo Finance: 2025-07-01 15:46:00

Tesla investors are focused on Elon Musk taking over European sales after firing a key executive. European sales for Tesla have plummeted, with registrations down over 60% in Denmark and Sweden. Tesla stock is down 18% from its peak in May, raising concerns about the company’s performance.

The decline in European sales is worrying for Tesla, as Europe is a crucial market for EV demand. Competition from Chinese rivals is intensifying, leading to further concerns about Tesla’s market share. This slump in sales could impact revenue forecasts, margins, and brand perception, hindering Tesla’s stock performance.

Analysts predict Tesla’s Q2 deliveries may drop by 19% compared to last year, potentially causing a further decline in Tesla shares. JPMorgan analyst Ryan Brinkman warns of significant downside risk, with a price target of $115 for Tesla stock. Other Wall Street firms also advise against buying Tesla shares at current levels.

Tesla is set to announce its Q2 delivery numbers on July 2nd, with expectations of lower figures than the previous year. The consensus rating on Tesla shares is “Hold,” with a mean target price below the current trading price. This news highlights challenges for Tesla as it navigates declining sales and increased competition in the EV market.



Read more at Yahoo Finance: Elon Musk Grabs Control of Tesla’s Europe Sales as Painful Plunge Continues. Can That Save TSLA Stock?