11:31 AM EST, 02/25/2025 (MT Newswires) -- (Updates with details throughout including share price and the company's market capitalization.)

Tesla's (TSLA) market capitalization slipped below $1 trillion on Tuesday after data from the European Free Trade Association and the European Automobile Manufacturers' Association showed new car registrations for the electric vehicle manufacturer fell 45.2% year over year to 9,945 throughout the European Union and the UK during January.

In just the EU, Tesla's January new car registrations fell 50.3% from the year prior to 7,517, Tuesday's data showed.

Tesla's market cap rallied past $1 trillion on Nov. 14 following more than a week of price gains for the automaker's shares in the wake of Donald Trump's re-election as US President.

Tesla shares recently were down over 8% at $301.60 per share, dragging its intra-day market cap to around $970.2 billion, based on MT Newswires calculations.

Price: 301.60, Change: -28.93, Percent Change: -8.75