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European Tesla Sales Drop by 45%

Tesla sales in Europe, the UK, and EFTA plummeted by over 45% last month, with sales totaling under 10,000 units, marking a substantial decrease from the previous year. Russ Mould, an investment director at AJ Bell, pointed out that heightened competition is probably a key contributor to the sales decline in January. The company's market capitalization dipped below $1 trillion primarily due to reduced vehicle registrations in Europe during January and February. Tesla's stock was impacted by proposed U.S. tariffs on goods from Canada, Mexico, and China under President Donald Trump's administration.