Tesla reported a 13 percent drop in car sales of the first quarter on Wednesday in the middle of a lower production during factory improvements and the setback on the work of CEO Elon Musk for the administration of President Donald Trump.
Musk’s Electric Vehicle Company delivered 336,681 cars in the quarter that ended on March 31, missing the expectations of the analysts, since it pointed out the “loss of several weeks of production” while increasing the updates for its model and production production.
Tesla’s actions fell more than 6 percent in the first operations, but then partially recovered.
The weak car sales add to the questions about the continuous Musk administration in the car manufacturer, which has been the white of boycott and vandalism of consumers, since the billionaire has helped design thousands of job cuts throughout the United States government.
Dan Iives from Wedbush, an outstanding technology analyst who has long believed in Tesla’s growth potential, described the figures “a disaster in each metric,” according to a note.
“It is a bifurcation at the time of the road,” said Iives, who has asked Musk to publicly describe how he is balancing his Tesla commitments with his work for Trump. “The more political you get … the more the brand suffers, there is no debate. This quarter was an example of the damage that Musk is causing to Tesla.
“This is still a moment of truth for Musk to sail for this moment of brand tornado crisis and arrive on the other side of this dark chapter for Tesla.”
Iives and other long -term Tesla bulls have seen the company as prepared for potentially massive growth, seeing Musk as a guru in the Autonomous Vanguard driving and artificial intelligence technology that is expected to play a growing role in the predictable future.
Although Tesla launch on Wednesday did not break sales for Cybertruck, the figures suggest anemic sales for the futuristic vehicle, which Musk has passionately adopted.
In March, Tesla announced that I was essentially remembering all cybertrucks due to a defect that can lead to an outer panel to separate, which represents a risk of shock.
Tesla also did not specify the deliveries per country, but the figures of the national automotive authorities have shown great falls in Europe, where the Musk association with Trump has caused criticism.
In March alone, Tesla’s sales fell in more than a third in France and almost two thirds in Sweden. Sales fell 56pc in Denmark in the first quarter.
Tesla Ross Gerber’s shareholder of Gerber Kawasaki Wealth and Investment Management, who has previously asked the Board to eliminate Musk as CEO, criticized the figure in X, the old Twitter platform now owned by Musk.
“These numbers stink,” Gerber published. “Basically, the cybertruck is not sold. The brand is broken and may not be repairable. The Board of Directors is responsible for 100 percent.”
About 1440 GMT, Tesla’s shares fell 2.7 percent.
