Tesla Faces Turbulent Times with Declining Sales and Stock Prices
Tesla's stock has tumbled over 40% this year amid declining sales, layoffs, and strategic shifts under CEO Elon Musk's leadership.
- Tesla reported its first year-over-year sales drop in four years, signaling potential challenges ahead.
- The company's stock price has plummeted, influenced by layoffs and strategic uncertainties.
- Elon Musk canceled the low-cost Model 2 project, focusing instead on developing a fully autonomous robotaxi.
- Tesla's market share in the U.S. EV market has decreased from 65% in 2022 to 51% in 2023.
- The company faces increased competition from other automakers, which have seen rising EV sales.
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