Autos trade group Mobility Sweden said new vehicle registrations of Tesla models were down 80.7% in April amid a backlash against the political activity of CEO Elon Musk.
Tesla registrations were 203 in April, down from 1,052 a year before.
It was one of the worst-performing automakers for the month in the Nordic country, and sat in contrast to an overall 11% rise in new passenger vehicle registrations to 24,292.
Polestar Automotive, a Swedish electric automaker and one of Tesla’s competitors, saw its sales hit 535 in April, an 11.5% increase.
Tesla stock is up because the board has quietly indicated that they are searching for someone to replace Musk
Will removing him as CEO really matter? As long as he’s as heavily invested in the company as he is, its gains are his gains.
I dubt they can save the company anymore.
Maybe if they pull a Boeing and
assassinatethe guy bringing their stock down commits suicide…It matters in the court of public opinion. Most consumers don’t understand anything about corporate politics. CEOs are often just fall guys for evil companies.
At this point, my grudge is with the entire board and any investors who didn’t sell their shares when they were over $400 and the CEO was tweeting hate speech and throwing Nazi salutes. Elon can walk away or stay, I don’t care. If you hold Tesla stock, you are either a Nazi or ok with Nazis. I will never pass a Tesla without spitting on it.
I went so far as to trade my S&P500-flavored index funds for large cap value-flavored ones so I could avoid holding TSLA even by association. It’s so stupid how that moist waste of carbon-based material turned something as silly as an electric car brand into a political totem of autocracy.
Yeah I would never ever buy one, especially when there are better options anyway like Polestar and Rivian
Traded my Tesla for a Polestar 3. While it does have some weird software quirks and issues, it’s overall been great. Tesla has had a long time to polish their software compared to just about everyone else.
I expected software issues from a company still early into their ecosystem, but it’s base is Android Automotive so it’s not entirely the terrible in car systems like most legacy automakers.
I hope the Polestar puts a smile on your face! I’ve always thought they were cool since they started showing up around my area.
“Quietly indicated.” They intentionally leaked that story to bring up the stock price.
Possible! Companies do things like that all the time
It’s still the most overvalued stock on the US ticker and it’s not even close.
Even in the most charitable reading of the future, Tesla chooses a responsible leader, successfully course-corrects, and becomes “just a car company.” The techbro futurist hype goes away, and the value tanks back to reality.
Agreed
it seems the stock is based on elon musk, and no others, releasing a mass market ready generalized artificial intelligence in the next 6 months.
6 months in musk time is like 25 years from now
Quietly? I literally read about it yesterday right here. Do you mean like they’re calling newspapers, but whispering?
It wasn’t a statement to the press. It was leaked. That means that the whole board likely was not ready to announce it or that they’re trying to keep it on the down low, where mostly just investors will see it and act accordingly.
Why does everything have to be an argument?