End of the Tesla era? The truth behind the historic sales slump
The electric car company has seen a huge slump in sales over the past weeks and months.
Who’d a thunk it? It turns out that buying an election, paying for a place in government, being put in charge of cutting benefits, slashing healthcare for millions, and flogging your products on the White House lawn, all contribute towards people not liking you.
It’s a shame then for Musk, the richest man in the world, that he didn’t realise this would happen. All those brains and nowhere to plug them in.
Since Musk took out his lighter and threw it on the petrol-doused Federal Government, Tesla sales have plummeted like a car driving off a bridge.
The company reported that it had sold 384,122 cars in the previous quarter, down nearly 60,000 units (13.5%) from the sales total a year ago.
As well as a sales collapse, protests have broken out across the world at Tesla showrooms, with some even turning violent: in France, cars were set alight and burned to a crisp as a reaction to his constant meddling in world events.
And Musk’s downfall couldn’t have come at a more precarious time for high-end EVs anyway: as Tesla falls, China is rising to become a major player in the western electric vehicle market, with sales skyrocketing as a result of fairer pricing and better specs.
The numbers back up this theory: Tesla is set to lose out on the title of the world’s largest EV maker to Chinese company BYD, which has around 1,000,000 sales this year compared to Musk’s ~700,000. What’s more, BYD hasn’t even entered the US market yet.
We continue: Tesla stock is also crumbling like an Arizona sandcastle, with the price settling at about $303.46 by Tuesday afternoon; that number highlights a drop of over 9% since he fell out with Trump last month, and just over 21% since the start of the year.
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