Elon Musk’s Tesla Sales Troubles Are Only Getting Started
Sign up for the Slatest to get the most insightful analysis, criticism, and advice out there, delivered to your inbox daily. But Tesla reported sales for the first quarter on Wednesday, and the numbers drew out a nasty reality for the company: The people who would buy Tesla’s electric cars are, figuratively and now very literally, not buying what Musk is selling. Tesla’s stock had a bad morning on Wednesday, but it went way up in the afternoon, after Politico reported that Trump had told his Cabinet that Musk would voluntarily leave the government soon. If Musk is actually about to take off the many hats he is now wearing in D.C., that would probably be great for Tesla’s stock, which now has an extensive history of doing poorly when the company’s CEO is in the news for politically polarizing actions like buying Twitter or destroying large swaths of the American government. The company might be able to avoid the brunt of Trump’s tariffs, for a mixture of reasons that include Musk’s closeness to power and how Tesla organizes its manufacturing.
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