The continent’s longtime electric favorite was overtaken by Chinese company BYD in April, which sold 7,231 fully electric cars compared to Tesla’s 1,165, according to data from Jato Dynamics.
“This is a watershed moment for Europe’s car market, particularly when you consider that Tesla has led the European battery electric vehicle market for years, while BYD only officially began operations beyond Norway and the Netherlands in late 2022,” Felipe Munoz, global analyst at Jato Dynamics, told the Financial Times.
Musk, however, has brushed off the volatility. Speaking with Bloomberg at the Qatar Economic Forum on Tuesday, the world’s richest man pointed to Tesla’s rising stock as evidence that bullish investors were likely to ignore his political activism.
“We’ve lost some sales perhaps on the left, but we’ve gained them on the right. The sales numbers at this point are strong and we see no problem with demand,” the Tesla CEO said. “The stock wouldn’t be trading near all-time highs if things weren’t in good shape, they’re fine, don’t worry about it.”
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