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Yo_Mama_Been_Loggin

(121,996 posts) Thu Apr 3, 2025, 02:23 PM Apr 3

More bad news for Tesla--and it's mostly Musk's fault

Elon Musk, the world’s wealthiest man and a terrible parent, was handed another loss on Wednesday, after his electric vehicle company Tesla released its first quarter sales report. The news wasn’t good. The EV maker reported its lowest quarter sales since 2022, well below the modest predictions analysts had forecasted.

Tesla shares fluctuated, beginning Wednesday with a 6% drop, before rebounding, possibly due to talk that Musk would be leaving his Department of Government Efficiency. And even Tesla cheerleaders, like Wedbush Securities analyst Dan Ives, were having a hard time turning this lemon into lemonade, as he expressed on X.

Musk’s latest setback comes just a week after reports that Tesla’s sales in Europe had dropped 40% in February, even as Europe’s EV market was enjoying an upswing in sales. Tesla’s losses in Europe can be partly attributed to Musk’s full-throated support of Germany’s far-right, neo-Nazi-affiliated Alternative for Germany party.

“In addition to Elon Musk’s increasingly active role in politics and the increased competition it is facing within the EV market, the brand is phasing out the existing version of the Model Y—its best-selling vehicle,” Felipe Munoz, global analyst at Jato Dynamics told the Financial Times.

https://www.dailykos.com/stories/2025/4/2/2314082/-More-bad-news-for-Tesla-and-it-s-mostly-Musk-s-fault

6 replies

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More bad news for Tesla--and it's mostly Musk's fault (Original Post) Yo_Mama_Been_Loggin Apr 3 OP

I wonder just what the heck this guy was thinking? GusBob Apr 3 #1

I don't know, sometimes I think these guys have so much wealth and so many sycophants they really have no idea how much Walleye Apr 3 #3

I think he vastly overestimates how popular he is. biocube Apr 3 #6

And POTUS is doing his best to sell cars for him too Walleye Apr 3 #2

Musk needs to be told to get out of the government or get out of Tesla. Lonestarblue Apr 3 #4

And why not both ? nt eppur_se_muova Apr 3 #5

GusBob

(7,887 posts)

1. I wonder just what the heck this guy was thinking?

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Apr 3, 2025, 02:29 PM

Apr 3

I mean, he is supposed to be some sort of genius no?

What did he expect? Booming sales, roses, parades with confetti and champagne? He had to know that his business would take a hit

Something stinks, his lil boo-hoo-hoo woe is me act too? He must be up to something else and Tesla is a sacrificial lamb

Walleye

(39,776 posts)

3. I don't know, sometimes I think these guys have so much wealth and so many sycophants they really have no idea how much

Reply to GusBob (Reply #1)

Thu Apr 3, 2025, 02:32 PM

Apr 3

And How many people hate their guts

biocube

(49 posts)

6. I think he vastly overestimates how popular he is.

Reply to GusBob (Reply #1)

Thu Apr 3, 2025, 09:40 PM

Apr 3

He supposedly got hurt feelings for getting bored at a Dave Chapelle event.

Walleye

(39,776 posts)

2. And POTUS is doing his best to sell cars for him too

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Apr 3, 2025, 02:31 PM

Apr 3

Lonestarblue

(12,559 posts)

4. Musk needs to be told to get out of the government or get out of Tesla.

Reply to Yo_Mama_Been_Loggin (Original post)

Thu Apr 3, 2025, 02:37 PM

Apr 3

Musk is the largest individual shareholder with 13%, but two institutional investors own a bit more. Together, Vanguard and Blackrock own 13.85%. I’m surprised they’re allowing Musk to damage the value of their holdings without pushing back. Shareholders of the Vanguard and Blackrock funds holding Tesla stock need to be doing some pushback as well.

Vanguard owns 7.56%. Two of the Vanguard funds with large holdings are VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and VANGUARD INDEX FUNDS-Vanguard 500 Index Fund.

Blackrock owns 6.29% of Tesla shares. State Street is the next biggest institutional investors with 3.49%.

eppur_se_muova

(38,930 posts)

5. And why not both ? nt

Reply to Lonestarblue (Reply #4)

Thu Apr 3, 2025, 08:50 PM

Apr 3

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