Tired of ads? Enjoy an ad-free experience by signing up.
👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.
🧔‍♂️ A friendly human may check it before it goes live. More news here

Tesla stock drops 5% amid sales slump, delays

Tesla’s shares fell by 5% in the United States premarket trading on Friday, continuing a decline observed earlier in the week.

This drop follows an 8% decrease on Wednesday, which marked the company’s worst trading day since the country’s 2016 presidential election.

Additionally, recent data from the European Automobile Manufacturers Association reported a 40.9% decline in Tesla electric vehicle sales in the European Union last November.

This downturn exceeded the overall 9.5% drop in sales of battery electric vehicles across the region.

Separately, Tesla has not yet achieved fully autonomous driving systems. Its autopilot and self-driving features still require human supervision, as the company’s vision for “robotaxi” services is still in development.

Recent Tesla developments

Timeline
20-Dec-2024 📉 Tesla’s China factory head Song Gang resigns
  • Song Gang resigns as Tesla’s Shanghai head
  • Fei Wenjin to temporarily take over his duties
19-Dec-2024 📉 Tesla shares fall 8%, largest drop since November
  • Tesla shares drop over 8% to $440.13
  • CEO Musk to lead new Trump administration office
12-Dec-2024 📈 Tesla stock breaks record at $415
  • Tesla stock hits new high of US$415
  • 66% market value increase this year
11-Dec-2024Tesla sells 21,900 EVs in China, hits record Q4 weekly sales
  • Tesla sold 21,900 EVs in China in early December.
  • Model Y discounts offered amid rising competition.
03-Dec-2024 ⚖️ Tesla fails to overturn ruling on Musk’s $56b pay deal

Stay ahead in Asia’s tech landscape

You've reached your 2 free content limit for the month. Sign up for free to read the full story.

🏄 For casual readers / 👶 Free

Basic

US$0

Free forever

Get instant access to this article and more every month

0 premium content

Unlimited news briefs

5

5 articles

Ad-free reading experience

Just US$0 per day

⌛Sign up in 20s. No payment details needed.

📖 For learners / 👍 Starter

Lite

US$4.92/month

Billed annually at US$59/year

Get instant access to this article and more every month

4

4 premium content

Unlimited news briefs & articles

Ad-free reading experience

Just US$0.17 per day

Cancel anytime

Our subscriber community includes professionals from these companies:

Stay updated on the go with our mobile app.

Get latest insights with smoother, more personalized experience through TIA mobile app.