Tesla stock sees massive plunge as abysmal sales figures released

Shares in Elon Musk's electric vehicle company Tesla tanked on Tuesday after new sales data showed a massive plunge in sales throughout Europe.

Per The Guardian, new data from the European Automobile Manufacturers’ Association (ACEA) showed Tesla sales in the United Kingdom and the European Union dropped by 45 percent year over year, and the company's share of the European car market got cut nearly in half over the same period.

The sales figures sent Tesla's share prices diving by more than seven percent on trading on Tuesday morning and the company's shares have lost nearly a quarter of their value since the start of the year.

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Consumers have targeted Tesla for boycotts to protest Musk's political interventions on behalf of far-right political parties including the Alternative für Deutschland (AfD) party whose reputation is so extreme that Germany's main conservative political party has refused to even entertain inviting it into a coalition government.

The Tesla Cybertruck has become a particularly frequent target for vandalism, as anti-Musk activists have labeled the vehicle a "swasticar" after Musk flashed what many neo-Nazi groups openly celebrated as a "Heil Hitler" salute.