The pioneering company of Tesla electric vehicles fell on Monday, March 10, on the New York Stock Exchange. The course of action has unscrewed 15.43 % in one day, to 222.15 dollars at the end, its worst session since 2020. Tesla’s market capitalization has been divided by two since December 2024 and fell to $ 700 billion, after the election of Donald Trump, including the business owner, Elon Musk, is a close ally.
The diving of the title is part of a broader tendency to drop in courses to Wall Street, especially those of technological values, faced with fears about the state of the American economy.
The equity price of “seven magnificent” – the nickname given to the big names in the technological sector at Wall Street, of which Tesla is part – also fell: alphabet ( – 4.41 %), Amazon ( – 2.36 %), Meta ( – 4.42 %), Apple ( – 4.85 %), Microsoft ( – 3.34 %), Nvidia ( – 5.07 %).
But Tesla is also sanctioned for its sales at half mast on several of its markets. According to data from the Chinese Cars Association of individuals, the manufacturer sold 30,688 vehicles in China in February, down 49 % compared to the same period last year. And this, in a context of a sharp increase (+ 82 %) of sales in the country of vehicles “New energy”category that includes electric and hybrid cars.
Ditto in Europe, where despite registrations for rising electric vehicles (+ 34 % over one year), Tesla sales were divided by two at the start of the year, according to data published in late January by the Association of European Manufacturers.
In France, the American electric car manufacturer saw its sales drop by 26 % over a year despite a stable market, with 2,395 vehicles registered in February, according to figures published on Saturday by the automotive platform. Between the current, the United Kingdom saw Tesla sales climb almost 21 % in February.
Buyers cooled by Elon Musk’s positions
Elon Musk’s positions alongside Donald Trump have cooled certain buyers, even if it remains difficult to assess how the acts of the billionaire, and in particular his support for the European far right, were able to scare potential Tesla customers. Boycott calls have been launched in recent weeks.
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