Tesla shares are still worth a lot. But they are no longer worth more than $1 trillion. The drop in price shrinks Elon Musk's fortune by 80 billion kroner.
Tesla has lost 50 percent of its European sales during the month of January. And it is now hurting Elon Musk's fortune.
The director's funds are largely tied to the value of the Tesla share, and because this is no longer above $1 trillion overall, Musk has lost 80 billion kroner. At least on paper.
However, neither analysts nor automotive experts can agree on why Tesla's sales are falling so drastically. Some believe the decline is due to Elon Musk's political involvement and close ties to the Trump administration.
Others point out that Tesla is facing a major replacement of its model program, and that therefore expectations of something new are holding back buyers.
Here in Denmark, Berlingske writes that Tesla will never be as dominant as they have been. This is partly because competitors have caught up with the American brand.
In an interview with Borsen, Jan Lang, an automotive analyst at Bilbasen, says that Tesla is losing, while interest in electric cars is generally increasing.
However, not everyone agrees with that view. Swedish billionaire Mats Qviberg writes in an opinion piece in the Swedish newspaper Dagens Industri that both petrol and diesel cars are here to stay.
Electric cars cannot replace the combustion engine completely and on their own. They are simply too poor a solution for that.
– The problem with an electric car arises when you have to drive long distances. For example, a trip north of Dalälven or to Skåne.
– Sweden is an elongated country, and if you go outside Stockholm, Gothenburg or Malmo, you know that there is not always capacity to charge, writes the billionaire.
