Tesla sells fewer cars in Europe!
Tesla is selling much fewer cars in Europe. In February, Tesla sold 40% fewer cars than one year ago. This is surprising because Tesla cars are now cheaper, and electric cars are becoming more popular.
Tesla is a car company that makes electric cars. It started in 2003. The company is named after Nikola Tesla, who invented the first alternating current (AC) motor.
Why is this happening?
Tesla is losing to other companies. Chinese companies have more cars and better technology. Tesla has fewer new cars and older technology.
Also, Tesla had to recall 46,000 Cybertrucks because the outside design was dangerous and could cause accidents. This happened just 18 months after the Cybertruck started selling.
Another problem is that many people are angry with Elon Musk, the CEO and co-founder of Tesla. Some people are damaging Tesla shops and cars in the USA and other countries.
What did Elon Musk do?
Elon Musk works for the government. Under President Trump, he became the leader of the Department of Government Efficiency (DOGE). He closed many government offices, including the Department of Education. Many people lost their jobs because of this.
He is also helping right-wing political parties in Europe with money. People think he made the trade relations between the USA and Europe worse.
Now, people are protesting against him in the USA, Canada, UK, Germany, and Portugal. On 29th February, there will be a big protest called the Tesla Takedown’s Global Day of Action outside 200 Tesla shops, with 50 in California.
Tesla’s stock price drops!
Because of these problems, Tesla’s stock price has fallen by more than 35%. The price of used Tesla cars is also very low now.
What is Tesla’s plan?
This week, Elon Musk shared a new plan to help Tesla. The company wants to sell cars in new places like Saudi Arabia and India.
Billionaires have a lot of power
Elon Musk is the richest person in the world. He is the boss of Tesla, DOGE, and other companies. Because he is very rich, he has a lot of power. Now that he is also working in the government, he controls even more.
People want politicians to care about everyone. But business people usually care about making money. Many people are now unsure if Mr. Musk is working for the people or for himself.
