News@lemmy.worldEnglish · 19 hours ago

Tesla investors brace for another year of sales decline as Musk backlash grows

www.reuters.com

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Tesla investors brace for another year of sales decline as Musk backlash grows

www.reuters.com

MicroWave@lemmy.world to

News@lemmy.worldEnglish · 19 hours ago

reuters.com

www.reuters.com

Summary

Tesla faces a second consecutive year of sales decline after a 13% drop in Q1 2024 deliveries, the steepest in nearly three years.

CEO Elon Musk’s alignment with Donald Trump and far-right politics has damaged Tesla’s brand, triggering global protests and vandalism.

Analysts attribute the sales slide primarily to reputational harm, compounded by aging models and fierce competition from BYD and others.

Deutsche Bank forecasts a 5% sales dip this year. Musk’s political role has fueled calls for boycotts, with concerns that prolonged involvement could cause lasting brand damage.

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15 hours ago
I know, I just forgot to mention them in my list of available options here that compete with Tesla.

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