Friday, April 19, 2024

Elon Musk gets the blame for new Tesla disaster

The first three months of 2024 have not been any fun for Tesla. The company is now paying for it with a share that is plummeting.

Tesla has just submitted its quarterly accounts. And it's not pretty reading. At least not for analysts or investors.

After the announcement on Tuesday this week, the stock fell by almost 9 percent, so that it now costs 166.6 dollars a piece.

The fall in the share price is due, among other things, to the fact that compared to the first quarter of 2023, Tesla both built and delivered far fewer cars this year.

But that said, the CEO's general misbehavior also appears to be playing a decisive role in Tesla's downfall. For years, the world's richest man has been inextricably linked with Tesla as a brand.

READ ALSO: People cannot be forced into electric cars, says car dealer

Jalopnik writes that.

You could say that Elon Musk is Tesla and that Tesla is Elon Musk. But now the rich man's in many ways absurd behavior is starting to become a gigantic problem for the car brand.

In fact, it has gotten so far that even current Tesla customers are reselling their cars precisely because of Elon Musk.

However, Tesla is by no means having it as hard as Fisker Inc. Not only is production, which the car brand rents out at a factory in Austria, at a standstill.

The same goes for trading in the share, which has been suspended by the New York Stock Exchange due to a very low value. Read more about it here .

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