Elon Musk has lost $68 billion in 48 hours as Tesla's sales in Europe slumped to rival BYD.
Liviu Brăteanu
International
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Tesla's sales in Europe fell 45% in July, with declines of 55% in Germany and 60% in the UK, while Chinese rival BYD is growing its sales rapidly. Investors' negative reaction to the recent unveiling of the robotaxi and Model Y amplified the financial losses. The political controversy surrounding Musk is also affecting Tesla's image, especially in Europe, where consumers prefer innovation and sustainability. Experts suggest the company's future success depends on real innovation and separating Musk's personal image from the Tesla brand.
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