India, Feb. 26 -- Elon Musk-owned Tesla's shares dipped 8 per cent on Tuesday, pushing the EV maker's valuation below $1 trillion for the first time since November 2024. This comes after the company reported a dip in its car sales in Europe in January.

Tesla's shares fell to $305/share with its market capitalisation hitting $981 billion. This is, notably, still over twice the combined value of General Motors, Ford Motor, Volkswagen, Toyota Motor, Hyundai Motor and BMW, Reuters reported.

According to European Automobile Manufacturers Association, Tesla sales dropped 45 per cent in Europe despite a 37 per cent rise in overall EV sales across the continent.

The company had recorded a dip in global sales last year, putting pressure on it t...