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Tesla profits drop 71% on weak sales and anti-Elon Musk sentiment
a year ago
- Tesla's Q1 financial results show a 71% drop in net income compared to last year, with $409 million net income on $19.3 billion revenue.
- Tesla delivered almost 337,000 EVs in Q1, marking its worst quarter for deliveries in over two years.
- The company avoided a loss by selling $595 million in zero-emissions tax credits.
- Tesla stock rose after-hours due to plans for an affordable EV production starting in June and Elon Musk's focus shift towards Tesla.
- Musk hinted at continuing his role with the Department of Government Efficiency during Trump's second term.
- Tesla warned shareholders about potential impacts from Trump's tariffs and changing political sentiment on demand.
- The company remains on track to start production of more affordable models by H1 2025, contradicting Reuters' report of delays.
- Tesla faces challenges from aging EV models, Cybertruck's underperformance, and backlash from Musk's political involvement.
- Musk is pushing Tesla towards Robotaxi and Optimus robot projects, with a Robotaxi service planned for Austin in June.
- Internal analysis suggests Tesla's Robotaxi program may lose money for an extended period even if operational.
- Tesla's profits have been declining, with a 55% drop in Q1 2024 and a 45% drop in Q2 2024, despite regulatory credit sales.
Tesla's Remarkably Bad Quarter Is Even Worse Than It Looks
a year ago
- Tesla reported a 71% drop in first-quarter profits for 2025, marking a significant financial downturn.
- Elon Musk attributed Tesla's poor performance to organized protests against his political activities and support for far-right politicians, without providing evidence.
- Musk announced he would reduce his involvement in DOGE and politics, shifting focus back to Tesla amid declining sales.
- Tesla faces a boycott in the U.S. from left-leaning EV fans due to Musk's political affiliations, impacting sales.
- In Europe, Tesla's sales are declining as Musk's promotion of far-right parties, like Germany's AfD, alienates customers.
- Competitors are surpassing Tesla in the EV market with better features, longer ranges, and lower prices.
- Tesla's challenges in China include fierce competition from local EV manufacturers offering advanced technology and faster charging.
- Analysts question whether Tesla can recover its brand image, even if Musk steps down, due to deep-seated issues.
- Tesla's future is uncertain as it struggles with innovation and brand toxicity linked to Musk's controversial actions.
Elon Musk's robotaxi fantasy is starting to unravel
a year ago
- Elon Musk promises millions of autonomous Tesla vehicles by the end of next year.
- Tesla's Full Self-Driving (FSD) promises have repeatedly failed to materialize since 2020.
- Tesla faces investigations for fatalities linked to Autopilot and FSD features.
- Musk acknowledges limitations in Tesla's autonomous technology, including geofencing for extreme conditions.
- Tesla's robotaxis in Austin will have remote operators for emergencies but lack audio input in customer-facing versions.
- Musk criticizes competitors like Waymo for relying on lidar, calling it a 'crutch.'
- Tesla's vertically integrated approach is claimed to be cheaper than rivals, but hardware upgrades for FSD remain costly.
- Regulatory hurdles and trade wars, including tariffs, could disrupt Tesla's autonomous vehicle plans.
- Waymo already operates fully driverless taxis in multiple cities, while Tesla has yet to demonstrate autonomous public road capabilities.
Even Republicans are falling out of love with Tesla
a year ago
- Elon Musk claims Tesla's future is bright, aiming to be the world's most valuable firm with autonomous taxis and humanoid robots.
- Donald Trump's tariffs may hinder America's energy ambitions.
- Peter Thiel emphasizes patriotism in the Trump era, aligning venture capital with government interests.
- The importance of taking office lunches for productivity.
- Hong Kong is regaining its commercial status, competing with Shanghai, Singapore, and New York.
- LinkedIn is playing a unique role in the AI race by changing user interactions.
- Spain's business thrives due to cheap energy and high immigration, unlike other European economies.
Trump updates Biden’s robo-car crash reporting rule to benefit Tesla
a year ago
- President Trump’s transportation department retains Biden-era rule for reporting crashes involving autonomous vehicles but makes key changes.
- The revised rule removes reporting requirements for Level 2 system crashes unless they involve fatalities or vulnerable road users.
- Tesla benefits significantly from the change as its Autopilot and Full Self-Driving features are Level 2 systems.
- Under the previous rule, Tesla reported over 1,500 crashes, accounting for 40 out of 45 fatal crashes.
- The Automated Vehicle Exemption Program (AVEP) is expanded to include domestically produced vehicles, previously limited to imports.
- USDOT officials claim the changes aim to reduce red tape and foster innovation while maintaining safety standards.
VW has overtaken Tesla as Europe's top EV seller
a year ago
- Volkswagen surpassed Tesla in European EV sales in Q1 2025, with 65,679 registrations compared to Tesla's 53,237.
- VW's EV registrations surged by 157% year-over-year, while Tesla's dropped by 38%, the largest decline among top brands.
- Despite Tesla's overall decline, the Model Y and Model 3 remained Europe's top two most-registered EVs.
- Battery EVs accounted for 16.9% of all car registrations in March 2025, marking a 2.7 percentage point increase year-over-year.
- Tesla's Q1 2025 earnings showed a 9% revenue drop and a 64% plunge in net income, missing analyst expectations.
- Elon Musk announced plans to focus more on Tesla, leading to a stock rise despite poor financial results.
How Matthew Hiller made six figures selling anti-Elon Musk Tesla stickers
a year ago
- Matthew Hiller, owner of MadPufferStickers, sells anti-Elon Musk Tesla stickers.
- Hiller started selling stickers after becoming disillusioned with Elon Musk's actions on X (formerly Twitter).
- Stickers include phrases like 'I bought this before we knew Elon was crazy' and 'Elon is a dogebag.'
- Sales surged when Musk became involved in Trump's campaign, earning Hiller over $100,000 in a month.
- Hiller has sold 70,000 stickers, magnets, and clings across platforms like Amazon, eBay, and Etsy.
- Around half of Americans have negative views of Tesla and Elon Musk, according to a CNBC survey.
- Tesla's car revenue dropped by 20% in Q1 2024, partly due to customer dissatisfaction with Musk.
- Hiller's sales spikes correlate with Musk's controversial public appearances.
- Some buyers use the stickers to avoid being targeted for owning a Tesla.
- Sales come from all U.S. states and internationally, not just blue states.
- Hiller doesn't plan to quit his aquarium job to sell stickers full-time.
Tesla is in worse shape than you think
a year ago
- Tesla reports a 71% drop in net income, with falling sales and profits for the first time in its history.
- Tesla's profitability is propped up by $595 million in regulatory credit sales, which may be at risk under potential Trump administration policy changes.
- Tesla's sales are declining in key markets like Europe and China, with BYD poised to overtake it as the world's largest EV seller.
- Elon Musk's political activities and controversial stances are causing brand damage, despite his claims of stepping back from DOGE.
- Tesla's gross automotive profit margin has shrunk to 12.5%, down from 30% in early 2022, signaling financial strain.
- Tesla's stock surged 10% after the Department of Transportation announced an 'automated vehicle framework,' seen as favorable for Tesla's self-driving efforts.
- Musk continues to promise breakthroughs like robotaxis and humanoid robots, but past predictions about full self-driving capabilities have been overly optimistic.
- Competitors like GM and Ford have scaled back or abandoned their autonomous vehicle projects due to profitability concerns.
- Analysts believe Tesla is setting up for future improvements, but challenges like competition and brand damage persist.
Tesla board denies launching search for Musk's successor
a year ago
- Tesla board denies searching for Elon Musk's successor
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Tesla's board reportedly sought a successor while Musk wheeled around Washington
a year ago
- Tesla's board began searching for Elon Musk's successor amid company struggles.
- Board members urged Musk to focus more on Tesla, which he agreed to.
- Tesla faced its first annual sales decline in over a decade, partly due to Musk's political activities.
- Tesla's market value dropped significantly from $1.5 trillion to about $900 billion.
- Despite a 71% profit decline and 9% revenue drop, Musk remains optimistic about Tesla's future.
- The status of Tesla's succession planning is currently unclear.
Tesla's sales figures in Europe tanked even further in April
a year ago
- Tesla's sales in Europe plummeted by over 50% in April 2024.
- Sales dropped significantly in Sweden (81%), Netherlands (73.8%), Denmark (67%), and France (59%).
- Despite a 23.9% increase in EU all-electric car sales, Tesla's sales fell by 45% in Q1 2024.
- Tesla's market share in Europe decreased from 2.4% in 2023 to 1.3% in Q1 2024.
- The refreshed Model Y failed to boost Tesla's sales in Europe.
- In the US, Tesla's sales declined by 8.6% in Q1 2024 despite an 11.4% growth in total EV sales.
- Tesla's global deliveries dropped by 13% year-over-year in 2023.
- Tesla is rumored to be launching a more affordable EV model soon, possibly a stripped-down Model Y or a robotaxi.
Elon Musk Threatened to Deport Engineers Who Exposed Flaws in Tesla Cars
a year ago
- Cristina Balan, a former Tesla engineer, reported a safety flaw in the Model S floor mats that could interfere with braking.
- Instead of acknowledgment, Balan faced threats, pressure to resign, and was removed from her duties.
- Tesla's legal team allegedly threatened to deport her colleagues who were regularizing their immigration status.
- Balan resigned in protest and began a legal battle, with Tesla accusing her of embezzlement, which she denies.
- A recent court ruling allowed her defamation case against Tesla to be reopened after initial dismissal.
- Balan's case highlights Tesla's leadership issues, including pressure, opacity, and unjustified dismissals.
- Other Tesla employees have reported racism, excessive surveillance, and unsustainable work hours.
- Balan describes Elon Musk as 'pure evil' and a 'monster,' reflecting a toxic work environment.
- The case questions whether tech companies can handle internal criticism without retaliation.
- Balan seeks not just compensation but the right to speak out without fear of losing her job.
Tesla confirms it has given up on its Cybertruck range extender
a year ago
- Tesla cancels Cybertruck range extender plans and refunds deposits.
- Original Cybertruck range promises fell short; tri-motor version now has 320 miles instead of 500+ miles.
- Range extender was priced at $16,000, took up a third of the truck bed, and required service center installation.
- Tesla removed the range extender from the online configurator and confirmed it won't be produced.
- Possible reasons for cancellation include low demand and the Cybertruck's commercial underperformance.
BYD Sealion 7 surpass Tesla Model Y to be Australia's best-selling electric car
a year ago
- BYD Sealion 7 surpasses Tesla Model Y to become Australia’s best-selling electric car in April 2025 with 743 sales.
- Tesla Model Y sales dropped 76% compared to April 2024, falling to eighth place with only 280 units sold.
- Plug-in hybrid (PHEV) sales plummeted by nearly 5,000 units in April due to the removal of Fringe Benefit Tax (FBT) exemption.
- BYD Shark 6 led PHEV sales despite a significant drop from March, followed by Sealion 6 and GWM Haval H6.
- Hybrid sales saw a 6% decline compared to April 2024, with Toyota models dominating the segment.
- Top-selling hybrids included Toyota RAV4, Corolla, and Hyundai Tucson, while BYD, MG, and Kia led EV sales.
USPTO refuses Tesla Robotaxi trademark as "merely descriptive"
a year ago
- Tesla CEO Elon Musk emphasizes the company's focus on AI and robotics, despite most revenue coming from electric vehicle sales.
- Tesla's future is tied to a sub-$30,000 driverless two-seater, showcased in October, but faces naming issues.
- USPTO denied Tesla's trademark for 'robotaxi,' citing it as too generic, with evidence from Wikipedia, The Verge, and Zoox.
- Tesla can challenge the decision by providing detailed marketing materials or explaining product differentiation and robotic features.
- Tesla has faced prior accusations of lack of originality, including a lawsuit from Alcon Entertainment over 'Blade Runner 2049' associations.
Tesla Cybertruck inventory goes through the roof
a year ago
- Tesla Cybertruck inventory in the U.S. exceeds 10,000 units, indicating a demand slowdown.
- Data shows a sharp rise in Cybertruck listings, possibly inflated by varying discounts.
- Unsold inventory, averaging $78,000 per unit, could represent nearly $800 million in capital.
- Sluggish sales, not increased production, likely caused the inventory buildup.
- Many 2024-manufactured Cybertrucks, including discontinued 'Foundation Series,' remain unsold.
- Tesla introduced a rear-wheel-drive (RWD) variant, abandoning plans for multiple battery sizes.
- Current inventory levels suggest Tesla may struggle to sell 20,000 units annually, far below initial projections.
- Analysts speculate Tesla may reduce or halt Cybertruck production due to mounting inventory.
- The Cybertruck faces regulatory bans in Europe and parts of Asia, limiting its market reach.
Tesla Worker Knew His Anti-Musk Website Was a Risk. He Did It Anyway
a year ago
- Matthew LaBrot, a Tesla salesworker, was fired after creating a website protesting Elon Musk's leadership.
- LaBrot, a Democrat, became disillusioned with Musk due to his political activities, including support for Donald Trump.
- Tesla has faced declining sales, protests, and a brand crisis, partly attributed to Musk's political involvement.
- LaBrot's website called for a new Tesla CEO, and he participated in protests before being terminated.
- Tesla's sales team struggled with decreased foot traffic and increased competition, despite promotions and incentives.
- LaBrot continues to support Tesla's mission but criticizes Musk's impact on the company's brand and sales.
Even Tesla's Insurance Arm Is Getting Wrecked
a year ago
- Tesla's insurance arm is losing money, with a loss ratio of 103.3 in 2024, higher than the industry average of 66.1.
- Tesla aimed to lower insurance rates using data from its Full Self-Driving software but still faces high claim-related losses.
- Repair costs for Tesla cars are 32% higher than for ICE cars, contributing to financial losses.
- Customer satisfaction is low due to long repair times, poor communication, and frustrating claim processes.
- Tesla insurance premiums have risen, with Model Y insurance costs increasing by up to 30% year-over-year.
- Tesla's insurance may remain a loss-leader unless significant changes are made to reduce costs or improve efficiency.
Custom SIM card in Tesla Model 3 2024, Tesla Model Y 2025 and Cybertruck
a year ago
- Tesla vehicles come with eSIM or built-in SIM cards for 4G/5G connectivity, but these only work in official markets.
- In non-official regions, connectivity is absent, but installing a local SIM card can resolve this issue.
- Newer Tesla models (Model 3 Highland, Model Y Juniper, Cybertruck) feature a separate Tesla Telematics Control Unit (TCU) for connectivity.
- The TCU includes LTE/5G modem, WiFi, and Bluetooth, connected to the main computer via Ethernet.
- TCUs vary by region (North America, Europe, Asia), with potential LTE band compatibility issues.
- To install a local SIM, access the TCU under the headliner, following specific teardown instructions for each model.
- Activating the external SIM requires Tesla Toolbox and Service+ mode, accessible via a paid subscription.
- Switching to an external SIM involves using the Toolbox to toggle SIM settings in Service Plus mode.
- After switching, the car's modem registers with the new operator, and connectivity status updates in the Infotainment menu.
- Using an external SIM requires manually sending an SMS to wake the car for app connectivity, avoiding unnecessary power drain.
Tesla employees ask Elon Musk to resign, confirm demand problem
a year ago
- Some Tesla employees have officially asked Elon Musk to resign, citing a massive demand problem they attribute to him.
- One employee, Matthew LaBrot, was fired for his association with an open letter criticizing Musk's leadership.
- Tesla's sales declined in 2024 for the first time in a decade, with a further accelerated decline in Q1 2025.
- Employees argue that Musk's politicization and personal brand damage are alienating customers and hurting Tesla's mission.
- EV sales in the US were up 10% in Q1, while Tesla's sales dropped by 9%, contradicting Tesla's Model Y changeover excuse.
- Thousands of new Model Ys are sitting unsold in inventory, highlighting a demand issue rather than a product problem.
- Employees are calling for Tesla to move forward without Musk as CEO, but the board has ignored their concerns.
- Tesla's Gigafactory Texas workers were told to take a week off due to significant demand issues.
- Critics argue that ignoring Tesla's problems, including Musk's leadership, won't make them disappear and could lead to further decline.

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#tesla

Tesla profits drop 71% on weak sales and anti-Elon Musk sentiment

Tesla's Remarkably Bad Quarter Is Even Worse Than It Looks

Elon Musk's robotaxi fantasy is starting to unravel

Even Republicans are falling out of love with Tesla

Trump updates Biden’s robo-car crash reporting rule to benefit Tesla

VW has overtaken Tesla as Europe's top EV seller

How Matthew Hiller made six figures selling anti-Elon Musk Tesla stickers

Tesla is in worse shape than you think

Tesla board denies launching search for Musk's successor

Tesla's board reportedly sought a successor while Musk wheeled around Washington

Tesla's sales figures in Europe tanked even further in April

Elon Musk Threatened to Deport Engineers Who Exposed Flaws in Tesla Cars

Tesla confirms it has given up on its Cybertruck range extender

BYD Sealion 7 surpass Tesla Model Y to be Australia's best-selling electric car

USPTO refuses Tesla Robotaxi trademark as "merely descriptive"

Tesla Cybertruck inventory goes through the roof

Tesla Worker Knew His Anti-Musk Website Was a Risk. He Did It Anyway

Even Tesla's Insurance Arm Is Getting Wrecked

Custom SIM card in Tesla Model 3 2024, Tesla Model Y 2025 and Cybertruck

Tesla employees ask Elon Musk to resign, confirm demand problem