Tesla CEO Elon Musk was in the Oval Office at the White House in Washington on Tuesday, February 11, 2025.
Aaron Schwartz | Bloomberg | Getty Images
Tesla’s Pop music almost disappeared after the election.
Stocks of the electric car maker fell more than 9% on Tuesday, putting the company’s market cap below $1 trillion and its lowest since Nov. 7, the lowest in two days President Donald Trump Election victory.
The stock started 25% this year, while Nasdaq shares fell just 1.3%, down 35% from the December 16 record. CEO CEO Elon Musk Although he remains the richest man in the world, he lost more than $100 billion in net worth within this range, with a wealth value of about $380 billion.
The latest slides follow Reuters On Monday, the owners were disappointed by an upgrade of Tesla’s long-awaited partially automated driving system. Many users told the publication that Tesla’s feature of “navigilance on urban streets” in China has not met Musk’s commitment to autonomous driving technology.
Other electric vehicle manufacturers in China, including Bitproviding partially automated driving systems for free may be much lower. Xiaomi’s popular Model SU7 includes the company’s equivalent technology as a free standard option.
China’s report has increased anxiety among Tesla shareholders. Some concerns are related to the company’s performance, and some are targeted at Musk, who will spend most of his time in Washington, D.C., leading President Trump’s so-called Department of Administration Efficiency (DOGE).
Musk, along with his team in Washington, has gained unrivaled access to government computer systems and taxpayer data, and the president has enabled billionaires to lead mass shootings of workers who oversee the institutions that oversee their companies, including Tesla.
Musk’s extremist political rhetoric and activism lead to rival organizations in various markets protestincluding at Tesla stores and service centers. Tesla’s stock falls Earlier this month In the plans announced by Trump, the tariffs on goods in Canada, Mexico and China are imposing plans for the decline in Tesla vehicle registrations across Europe from January and February.
In the fourth quarter, Tesla Report Lack of analyst estimates of revenue and sales, auto revenue fell 8% from the same period last year and operating income fell 23%. In a report in late January, the company lowered the average selling price in its aging lineup of Model 3, Model Y, Model S and Model X vehicles, a major reason for that decline.
Tesla’s sales fell 11.6% in the fourth quarter of 2024, Tesla’s largest market in the country, according to the California New Car Dealers Association.
Tesla shares are now about 19% higher than the stocks traded before Trump’s victory. Most of the gatherings are due to stocks 15% Jump The day after the election. Musk, a major supporter of President Trump’s efforts, donated $290 million to Republican candidates and causes in 2024, most of which aim to return Trump to the White House.
Musk and Tesla did not immediately respond to requests for comment.
