Sales Drop 13 Percent Amid Elon Musk Backlash
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The Associated Press |
Tesla sales fell 13% in the first three months of the year, another sign that Elon Musk’s once high-flying electric car company is struggling to attract buyers.
HuffPost |
Analysts are still not sure exactly how much the fall in sales is due to the protests or other factors.
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The Tesla CEO acknowledged his DOGE activities are impacting the electric vehicle maker's stock price amid boycotts and protests.
New York City Comptroller Brad Lander has asked the city, which is a major Tesla shareholder, to sue Tesla and CEO Elon Musk over alleged breaches of fiduciary duties. Lander asked the New York City Law Department to pursue securities litigation against Tesla on behalf of the New York City pension systems, which owns 3 million shares in Tesla.
A self-confessed Elon Musk hater was filmed issuing a groveling apology after he was tracked down and confronted for allegedly carving a swastika onto a Tesla.
Brad Lander, the comptroller, said Elon Musk’s actions on behalf of the Trump administration had hurt Tesla’s stock price.
Shares fell as much as 6.4%, to a low of $251.27, in the morning session after Tesla reported a 13% drop in vehicle deliveries during the first quarter. Wedbush analysts said the result was disastrous and reflected growing negativity around the brand stemming from Musk's involvement in President Trump's inner circle.
President Trump told reporters this week that DOGE chief Elon Musk has done an “amazing” job, but noted that the Tesla CEO has “got a big company to run.”
I’m selling because I need to make up for the 60% cut that Elon made to our son’s child support,” St. Clair says in the Daily Mail video. Asked why she thought Musk would do that and whether it was vindictive,
Tesla Inc. investors shrugged off the company’s worst vehicle sales since 2022 and bid up its shares on hopes that Elon Musk will step back from his work for the Trump administration.