Tesla shares plunge 15%, suffering steepest drop in five years

Tesla’s stock plummeted 15% on Monday, marking its worst day since September 2020, following a seven-week losing streak.

Shares have dropped more than 50% since December, losing over $800 billion in market value.

The sell-off was linked to uncertainty about President Trump’s tariff plans, which could raise production costs.

Additionally, Tesla is facing brand damage from CEO Elon Musk’s political involvement, controversial statements, and reports of vandalism at its facilities.

Tesla’s European vehicle sales dropped by 50% in January, with analysts citing growing distaste for the brand, CNBC has reported.

Despite this, the Model Y remains the best-selling electric vehicle globally.

read more: https://www.cnbc.com/2025/03/10/tesla-shares-plunge-14percent-head-for-worst-day-in-five-years.html

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