Tesla Fires Top Executive Omead Afshar as EV Sales Slump in U.S. and Europe
Tesla (TSLA, Financials) dismissed Omead Afshar, one of Elon Musk's most trusted executives, as the company faces falling electric vehicle sales in its key North American and European markets; the leadership shakeup comes days before the end of Q2 and amid signs of deepening trouble at the EV giant.
Afshar, a Tesla veteran since 2011 and once dubbed Musk's fixer, was promoted in October to lead regional operations. His exit follows a 15% sales drop in China in May, five months of shrinking deliveries in Europe, and a projected 10% global decline for the quarter ending June 30. Tesla stock fell 3.8% Wednesday to $327.55 and is now down 19% in 2025.
Musk's pivot away from new EV models toward speculative ventures like robotaxis and humanoid robots is drawing scrutiny from investors. Tesla's limited robotaxi pilot in Austin launched June 22 but showed signs of immaturity: the vehicles operated in a narrow zone with human safety drivers, and multiple erratic incidents have prompted a review by the National Highway Traffic Safety Administration.
Despite the hype, Tesla still generates nearly all its revenue from electric vehicles, batteries, and charging infrastructureleaving analysts wary of its ability to compete with aggressive Chinese automakers in a softening global market.
This article first appeared on GuruFocus.
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