Autos trade group Mobility Sweden said new vehicle registrations of Tesla models were down 80.7% in April amid a backlash against the political activity of CEO Elon Musk.
Tesla registrations were 203 in April, down from 1,052 a year before.
It was one of the worst-performing automakers for the month in the Nordic country, and sat in contrast to an overall 11% rise in new passenger vehicle registrations to 24,292.
Polestar Automotive, a Swedish electric automaker and one of Tesla’s competitors, saw its sales hit 535 in April, an 11.5% increase.
Yet the stock has jumped like 50% while every single indicator is red.
I can’t believe it will last. Bubble has to pop. International sales in the toilet, Cybertruck failing, domestic sales down, supply chains in shock from tariff chaos, and on top of it all, it’s PE ratio makes no sense compared to all other manufacturers.
The entire stock price is based on nothing but Elon Musk and the world is starting to look at him as an idiot.
Some people tend to double down when they notice that they have lost a high percentage