look news india
New Delhi: Tesla recorded a 13 percent decline in sales of vehicles in the first quarter, declining the delivery of vehicles to 3,36,681, the lowest after 2022. Analysts were expected to sell 390,000, but a decline due to disruption in production and international opposition. In addition, the reconstruction of factories for re -designed models Y also affected production, although CEO Elon Musk’s close participation in global politics proved to be the most important factor.
The support of the right -wing candidates and their issues led to widespread protests in the US and Europe. His political activities included reducing the US federal task force under President Donald Trump, influencing the German federal elections and recommending the US to leave NATO. These actions led to extensive protests and demonstrations, which tarnished Tesla’s public image.
The market confidence in Tesla has also been staggering, on Wednesday, its shares declined by 5.8 percent in early trade in New York. Tesla’s stock has declined by 44 percent since Trump’s election victory reached a high level. The sales have declined despite the company’s comprehensive discounts, price deduction and other benefits.
However, analysts are still unable to determine whether the decline in sales is due to the protest wave or due to other factors. Sales of electric cars have generally been weak, and it is believed that sales have also been weak due to buyers waiting for Tesla’s new model Y.
Musk’s political stance and production challenges have created uncertainty for the auto manufacturer amidst unstable business environment.