Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 4.4% in the morning session after reports showed the company's sales in the European Union plunged for the fifth consecutive month in May 2025.

Tesla (TSLA) lost as much as 5% on Wednesday after European Automobile Manufacturer Association data confirmed its sales continued to struggle in Europe last month. In May, the automaker sold 13,863 vehicles in the region – down nearly 28% on a year-over-year basis as customers favored more affordable and features-rich EVs from Chinese automakers.

Tesla (NASDAQ: TSLA) stock has surged by over 10% and closed up 8.2% after finally launching robotaxis. This was a long-awaited event that came after multiple delays. The launch itself was “tentative,” and Texas lawmakers requested Tesla to delay its launch until new regulations pertaining to autonomous vehicles take effect on September 1, 2025.