Tesla reported its second annual sales decline on Friday – a dip made worse by the fact that the Texas-based automaker also slipped to second in the global EV sales race, ceding its crown to China’s aggressive upstart BYD. Headlight.News has more.
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Sales Plunging, Protests Rising, Can Musk, Tesla Turn Things Around
Tesla shareholders breathed a sigh of relief on Wednesday morning, word leaking out of the White House suggesting CEO Elon Musk will soon give up his controversial role as the head of the Trump administration’s Dept. of Government Efficiency. Then, Tesla released its first-quarter sales numbers, global deliveries falling three times further than what Wall Street anticipated. Its stock rebound in reverse, a growing number of investors and analysts now wonder whether Tesla and its CEO can recover from the hit they’ve taken.
Tesla Sales Take First Full-Year Fall; Musk’s Politics Catch Some Blame
While EV sales growth has slowed down this past year, demand was still up by about 10% in 2024. And the numbers would have been even bigger were it not for Tesla. While still the market leader, it suffered a first-ever annual sales decline last year. A variety of factors were at play, including CEO Elon Musk’s increasingly polarizing politics. More from Headlight.News.