Tesla’s sales decline due to competition and reliance on models

smh.com.au

Tesla's sales are declining amid a backlash against CEO Elon Musk's political ties, particularly his support for Donald Trump. The company's share price fell over 15% after Trump's comments on the economy, highlighting investor concerns. Sales have dropped despite the overall growth in the electric vehicle market. Tesla reported a 1% decline in annual sales last year and anticipates a 30% drop in first-quarter sales in Europe, with significant declines in Germany and China. Tesla's reliance on just two models, the Model 3 and Model Y, limits its market appeal. Increased competition and Musk's focus on other ventures, like robotaxis, may also contribute to the company's challenges.


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