- On Tuesday, Tesla stock fell 3%, giving back part of its 5.5% gain from the previous session as investors reassessed the company’s robo-taxi prospects and digested mixed vehicle registration data from Europe.
- During Tuesday’s session, Tesla shares were down 3.1%, compared with declines of about 0.5% for both the S&P 500 and Dow Jones Industrial Average.
- Gary Black, co-founder of Future Fund, estimated that Tesla’s robo-taxi fleet consists of about 100 vehicles, compared with an estimated fleet of nearly 4,000 vehicles operated by Alphabet’s Waymo.
- Tesla’s August vehicle registrations showed a mixed picture, with registrations increasing 279% year over year in France and 104% in Denmark, but declining in Norway, Spain, Sweden, Portugal, and Italy.
- Registration data from the UK and Germany, Europe’s two largest car markets, is due later this week and could provide additional insight into Tesla’s sales performance across the region.
- Black described Monday’s rally as Tesla bulls getting ahead of themselves, highlighting the gap between expectations and the current scale of Tesla’s robo-taxi operations.
- Despite recent gains, Tesla’s shares remain only a few dollars above their level in late June 2025, shortly after the robo-taxi launch.
Tesla stock fell 3% on Tuesday, giving back part of its 5.5% gain from the previous session as investors reassessed the company’s robo-taxi prospects and digested mixed vehicle registration data from Europe.1
Gary Black, co-founder of Future Fund, estimated that Tesla’s robo-taxi fleet consists of about 100 vehicles, compared to nearly 4,000 vehicles operated by Alphabet’s Waymo. Black noted that Monday’s rally was a case of Tesla bulls getting ahead of themselves, highlighting the gap between expectations and the current scale of Tesla’s operations.36
Despite recent gains, Tesla’s shares remain only a few dollars above their level in late June 2025, shortly after the robo-taxi launch.7
Tesla’s August vehicle registrations across several European markets provided a mixed picture. Registrations increased 279% year over year in France and 104% in Denmark, but declined 79% in Norway and Spain, 41% in Sweden, 37% in Portugal, and 36% in Italy.4
Rico Luman, senior economist at ING Research, attributed the increases in France and Denmark to rising electric vehicle adoption and Tesla’s more affordable pricing. Meanwhile, Matthias Schmidt, a European auto market analyst, noted that the decline in Norway was partly due to difficult comparisons with the previous year.
Registration data from the UK and Germany, Europe’s two largest car markets, is due later this week and could provide additional insight into Tesla’s sales performance across the region.5
“Gary Black of Future Fund estimates Tesla's robo-taxi fleet at about 100 vehicles, versus Waymo's nearly 4,000 across a dozen US cities. Morgan Stanley values Tesla's autonomous driving tech at roughly $1 trillion, about six times its traditional car business.”
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