• Tesla stock is falling today after Reuters reported that sales for the company's vehicles have continued to fall in Spain.

• Sales for new Tesla vehicles declined 36% in April despite growth for the overall electric vehicle market.

• Robotaxi services and humanoid robots could be big growth drivers for Tesla, but challenges facing the auto business make the stock risky.

Tesla stock closed lower following new European sales tracking data. The electric vehicle (EV) company's share price dropped 2.4% on Monday. Meanwhile, the S&P 500 was down 0.6%, and the Nasdaq Composite was down 0.7%.

Tesla's valuation is falling today in response to a Reuters report suggesting that the company's sales struggles are continuing in Europe. According to tracking from the Spanish Association of Automobile and Truck Manufacturers, Tesla's sales in that country sank 36% year over year in April after declining 17% across the first four months of the year.

This update followed a separate report from Reuters last Friday stating that the company had seen vehicle sales in Europe fall roughly 37% year over year in the first quarter despite a 28% increase for EV sales overall in the market. With today's pullback, Tesla stock is down roughly 31% in 2025.

Image source: Tesla.

Is Tesla stock a buy right now?

With Tesla's core auto business under pressure, attention has turned to the rollout of the company's robotaxi service and its Optimus humanoid robots as the key near-term bullish catalysts for the stock. While these new ventures could eventually turn into powerful growth drivers, it will likely take a while for the businesses to scale up.

Tesla's robotaxi services are scheduled to launch in Austin, Texas next month, and it's possible that the stock could get a substantial boost if the rollout goes smoothly and garners favorable reviews. Meanwhile, the Optimus robots had been scheduled to enter production at significant scale later this year -- but reduced access to rare-earth minerals could delay manufacturing. With revenues for the auto business declining 20% year over year in the first quarter and indications of continued headwinds, the risk-reward profile for Tesla stock doesn't look appealing enough yet.