Elon Musk's Tesla sees first sales drop since 2011 as competition rises, Trump support holds back customers
Hindustan TimesFor the first time since 2011, Elon Musk's electric vehicle, Tesla, saw its sales drop by 1.1% in 2024, news agency Associated Press reported, citing the company's sales figures. Tesla CEO and X owner Elon Musk listens as US President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, DC, U.S. on November 13, 2024 Tesla's stock fell 6.1% on Thursday when it announced the sales figures. According to the report, which cited data from analytics firm Global Data, this sales drop was the first since 2011. The reason for sale drop The AP report said another reason could be Musk’s support of Trump for US president that could also turn off some buyers since the more environmentally conscious ones usually lean toward Democrats.