Tesla shares drop on plunging European sales, concerns about Trump's tariffs

Tesla shares dropped nearly 6% on Wednesday due to slowing sales in Europe and concerns over President Trump’s proposed auto import tariffs. Data from the ACEA revealed a 40% decline in new vehicle registrations for Tesla in Europe in February, while battery electric vehicle sales increased by 26%. Despite the drop, analysts anticipate growth in Tesla’s energy storage business and driverless ride hailing, with the company set to launch a robotaxi service in Austin in June.

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