Tesla 1st quarter sales sink amid anger over Musk politics
Digest more
Top News
Impacts
Tesla reported a 13 percent drop in first quarter auto sales Wednesday amid lower production during factory upgrades and blowback over CEO Elon Musk's work for President Donald Trump's administration.
From AFP
All of that talk was before Musk faced a setback Tuesday in Wisconsin, where voters rejected his choice for a state Supreme Court candidate despite more than $21 million in personal donations and his...
From Seattle Times
Read more on News Digest
Trump is planning to enforce 25% tariffs on the auto industry, so why is Tesla cruising while others are in a spiral? Here's what to know.
The news followed a quarter in which Tesla's stock fell 36%, its worst quarterly performance since 2022, as protests and boycotts in the U.S. and Europe drove potential EV buyers to look elsewhere.
Tesla has long been a leader in the electric vehicles market. Now it's facing mounting protests and plummeting sales.
Musk has been seen as a political liability by Trump allies, and his impending retreat comes a day after he spent millions of dollars to support the candidacy of a conservative judge who lost on Tuesday night in the race for a Wisconsin Supreme Court seat, the report said.
The list is created using five criteria: assembly location, parts content, engine origin, transmission origin and U.S. manufacturing workforce.
Higher interest rates and an uncertain economy are wreaking havoc on Tesla. Not only did unit sales barely grow in the fourth quarter of 2024 (they grew 2% year over year), but automotive revenue also tanked as the company aggressively cut prices.
Follow all the latest U.S. market action for Tuesday here to see if stocks can continue their recovery from Monday's session lows and get the new month off to a good start
China-made electric vehicles fell 11.5% year-on-year in March, as intense market competition continues to disrupt the automaker’s share of China's EV market. The Texas-based carmaker sold 78,828 China-made Model 3 and Model Y vehicles in the month,