Elon Musk’s honeymoon at Tesla has ended, as the EV maker struggles with declining global sales and tariff fears. Despite a surge in Musk’s net worth after his post-election support for Donald Trump, Tesla stock is now trading lower than its December high. Key markets such as France, Germany, and the UK have seen significant declines in sales, while China’s largest market has also reported a 11.5% drop year-over-year. Investors are linking this decline to Musk’s close relationship with Trump, citing concerns over trade policies that could impose tariffs on Tesla’s global supply chain. The company acknowledges the risk, but hasn’t introduced a new model since late 2023 and is considering a more affordable option for 2025.
Source: https://www.independent.co.uk/news/world/americas/tesla-elon-musk-trump-administration-b2695738.html