Tesla reported a decline in vehicle deliveries for the first quarter, contrasting with significant sales increases from competitors like General Motors and Hyundai. GM saw nearly double its EV sales year-over-year, highlighting Tesla’s specific challenges. Analysts attribute Tesla’s decline to brand issues stemming from CEO Elon Musk’s political controversies, including his involvement in the U.S. DOGE Service under the Trump administration. This has led to what analysts describe as a “brand crisis,” affecting consumer perception and resulting in an estimated loss of 80,000 potential deliveries. Additionally, Tesla faced competition from BYD in China and backlash in Europe. Protests and acts of vandalism against Tesla facilities have also been reported. Despite these challenges, some analysts believe Tesla’s issues are temporary. However, Tesla’s stock has dropped over 30% this year, following its first annual decline in electric vehicle deliveries in over a decade.
— new from The Washington Post
