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New York Times
4 days ago
- Automotive
- New York Times
Tesla's Troubles
Elon Musk says he is stepping away from politics to care for his businesses, particularly Tesla. It needs the help. Tesla drove the electric-car revolution, and Musk spent nearly two decades making his image inseparable from the company. For years, Tesla seemed like a window into the future as it grew larger than the Big Three automakers in Detroit. But during — and partly because of — Musk's stint slashing government programs and laying off workers, Tesla has withered. Its stock has tumbled since President Trump's inauguration. Global sales have cratered. One blue state is nixing contracts. In Los Angeles, where I live, sheepish Tesla owners place 'Bought Before the Plot Twist' stickers on their bumpers. Today's newsletter is about how one of America's great avatars of futurism broke. A decline Tesla had a few troubles before Musk jumped into politics. The company was losing market share around the world to Chinese electric automakers like BYD, and it had abandoned plans to manufacture a completely new and cheaper model. Instead, Musk was hyping humanoid robots and self-driving taxis, technologies that seem a long way off from mainstream use. But Musk's sojourn in politics extracted a steep cost, partly by polarizing Tesla's clients. The stock price is down more than 17 percent since the start of the year, and profit fell 71 percent in the first three months of 2025. Protesters have picketed Tesla showrooms around the world. They say they intend to expand their demonstrations. People have vandalized Tesla vehicles and charging stations. A Colorado resident spray-painted 'Nazi' onto a dealership sign. In Germany (where Musk backed a far-right party) and Britain (where he said a civil war driven by migration was 'inevitable'), registrations in April of new Teslas fell to their lowest points in more than two years. Elsewhere in Europe, the story is the same. Last Friday, the agency that runs the New Jersey Turnpike said it would replace more than 60 Tesla-made electric vehicle chargers with another company's chargers. Signs of distraction abound: Musk waited for months after the Trump administration imposed tariffs to ask for a briefing at Tesla about their impact on the firm, worrying some executives. In recent months, a board member has stepped in to fill him in on day-to-day operations. Back to business Musk says he's entering a new phase. He posted on X last month that he's back to 'spending 24/7 at work.' One sign of distance from Trump: He flayed the Republicans' deficit-fattening policy bill as a 'disgusting abomination' this week. (The current proposal would end financial perks for people who buy electric cars.) Musk, who has a Forbes-estimated net worth of $415 billion, is arguably the most successful businessman of his generation. He has spent his career overcoming obstacles (few took Tesla seriously as a competitor for the Big Three when he first invested in the company in 2004) and proving doubters wrong (SpaceX invented reusable rockets). Want all of The Times? Subscribe.
Miami Herald
24-05-2025
- Automotive
- Miami Herald
Analyst sets eye-popping Tesla stock price target
Tesla (TSLA) stock has risen over the past month, recently on momentum, for a major event scheduled to take place soon. For months, loyalists have been waiting excitedly for the electric vehicle (EV) producer to reveal its autonomous robotaxis in Austin, Texas, allowing people to ride in Tesla-made cars with no human driver present. CEO Elon Musk has been touting these self-driving Teslas for years, and he claims they are on track for the June 2025 rollout. Don't miss the move: Subscribe to TheStreet's free daily newsletter Musk's positive sentiment and the company's focus on delivering the promised robotaxis on time seem to be helping drive TSLA stock up, although trading has been fairly volatile over the past week. However, one of Wall Street's most outspoken voices on Tesla has revealed that he believes the robotaxi launch will help push the stock to new heights, significantly raising his price target. Image source: Marquardt - Pool/Getty Images Throughout Tesla's stock rise to market prominence, one of its most vocal supporters on Wall Street has been Wedbush Securities analyst Daniel Ives. Known for his tech stock expertise, Ives has long been highly bullish on Tesla's growth prospects, touting Musk's leadership through good and bad times. Related: Fund manager has shocking Elon Musk and Tesla prediction Earlier this year, even Ives started expressing some skepticism about the company's future, catching the attention of many people. He urged Musk to focus on Tesla, raising concern about the CEO's work with the so-called Department of Government Efficiency (DOGE) and noting that his political affiliations have compromised EV sales in multiple key markets. This prompted Ives to reduce his TSLA stock price target to $315 per share from $500, a significant decrease. However, he has since raised it to $350 and most recently, he increased it to $500 again, indicating upside potential of 46% while maintaining an Outperform rating. Now that Musk seems to be shifting his focus back to Tesla, Ives' outlook on the company's future has changed. While the analyst acknowledged that Musk's actions have damaged Tesla's brand, he stated that, "Those days are in the rearview mirror, as we are now seeing a recommitted Musk leading Tesla as CEO into this autonomous and robotics future ahead with his days in the White House now essentially over." More Tesla News: Elon Musk confirms Tesla's summer plansBillionaire fund manager unloads over $100 million of Tesla stockElon Musk's robotaxi ambitions hit with major roadblock Ives also addressed the concern regarding Tesla's struggling sales in Europe, stating that while the company still has some work to do, his team still believes that "the core focus for investors is the AI Revolution is now coming to Tesla," which he sees as the new "golden age" of autonomous driving technology. Tesla has a lot riding on its fast-approaching robotaxi launch, as Ives' new take on the company illustrates. He notes that the "vast majority of valuation upside" for TSLA stock relies on its foray into this new market, regarded by some as the next frontier of transportation. Related: Palantir leader has shocking take on Elon Musk and DOGE Ives' new price target makes it quite clear that he isn't worried about the upcoming launch. The momentum for the upcoming event is significant, and the stock's performance over the past month has been strong. TSLA stock has, however, battled high volatility over the past week. While Tesla seems to be on track for the launch, its robotaxis won't be fully self-driving. Morgan Stanley analyst Adam Jones, who maintains a $410 price target on TSLA stock, recently revealed that it will feature "a lot of tele-operators" after visiting the company's office. As experts have explained to TheStreet, this means these vehicles can't be considered fully autonomous. However, Tesla loyalists don't seem to care about that detail, and neither does Ives. Both are fully convinced that the robotaxi launch will help propel the company into an exciting new chapter and will help boost share prices in both the long and short term. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
26-04-2025
- Business
- Yahoo
A New Community Of Homes Powered By Tesla Tech Is Selling Out Fast, Facing 'No Issues With Trump and Musk Backlash'
Amidst the controversy surrounding Elon Musk, it's sometimes easy to forget that Tesla (NASDAQ:TSLA) has been at the forefront of clean energy adoption worldwide. It makes sense, then, that Tesla's tech is powering the company's first home community. Consisting of 11 homes in Houston, reports that the properties are attracting intense buyer interest, despite recent vandalism experienced by Tesla car owners and showrooms. 'We have honestly had no issues with Trump and Musk backlash. In fact, I had over 150-plus people at my brokers' open. It was insane, people were very excited,' Jamie Fallon, a Houston-based real estate broker handling the homes' sales, told Don't Miss: Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – Hasbro, MGM, and Skechers trust this AI marketing firm — . All homes in the community feature Tesla-made products, including solar roof shingles, EV chargers, and Powerwall home battery storage. The latter has become a coveted commodity in Texas, which is not part of the national power grid but operates its own separate electrical grid. Risks And Rewards Launching a new Tesla product, especially one as expensive as a home, could be seen as risky for the company, which has seen its stock price plummet due to Musk's close association with President Donald Trump. However, Fallon has said buyers are more interested in power than politics. 'Who cares who is in office when you don't have power? Houston has had a huge issue with electricity because we're not on the national grid. So when we lose power, we're out for five days,' she told 'While we are big on oil, gas, and generators, now people are seeing that they can have Tesla-powered homes at similar price points,' she added. 'We are not selling sunset; we are selling power.' Trending: It's no wonder Jeff Bezos holds over $250 million in art — According to only four of the 11 homes remain available. While the essential components that power the homes are Tesla-made, the residences themselves, located in the Oaks of Shady Acres subdivision, have been built by Utopia Homes. Two of the remaining properties still remain—a larger model priced at $544,900 and a smaller one priced at $524,000. By Houston's standards, the houses are pricey—about $179,000 more than Houston's median list price of $365,000. Despite the White House's efforts to promote fossil fuels, Fallon believes that Tesla-type clean-energy homes are the dwellings of the future. 'What legislation we have in Washington is going to dictate it, but going toward clean energy is where I think the country is headed. I think there is a mindset shift happening,' Fallon says. Fallon feels that the homes' integration of style and tech, particularly with Tesla's solar singles, is part of their selling point. 'The next time I have to replace my roof, I'm putting Tesla shingles on it. You can't even tell [what they are]; they look so good,' she says. In addition to mainstream full-sized family homes, Tesla is exploring the tiny house market. The smaller homes, according to Tech Bullion, also feature Tesla solar panels and Powerwall battery storage units. However, the real selling point is the price, which starts at $7,000. Read Next:Can you guess how many retire with a $5,000,000 nest egg? . Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article A New Community Of Homes Powered By Tesla Tech Is Selling Out Fast, Facing 'No Issues With Trump and Musk Backlash' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
CBC
29-03-2025
- Automotive
- CBC
Anger at Trump ally Elon Musk sparks protest at Saskatoon Tesla dealership
Jason Hanson owns an electric vehicle, but says he doesn't have much else in common with Tesla owner Elon Musk. Hanson helped organize a Saturday afternoon protest outside a Tesla dealership in Saskatoon's Stonebridge neighbourhood. Similar events at dealerships were planned for Saturday in cities across Canada. "I'm actually an EV owner, so I support electric vehicles, but when Elon Musk's wealth is used as a way to exert power over entire countries, I think we have an obligation to come out here and protest the existence of this company," Hanson told reporters during the protest, calling Musk — a close ally of U.S. President Donald Trump who also heads up the newly created Department of Government Efficiency — a bully and a plutocrat. "We can't protest Donald Trump right now because he doesn't have a Trump Tower in Saskatoon," said Hanson. "So this is the next closest thing." Protests were also planned for Ottawa, Montreal, Winnipeg, Halifax and B.C.'s Lower Mainland on a day dubbed the Tesla Takedown's Global Day of Action. Controversy has followed Musk since becoming head of the newly created U.S. department, including criticism for his public support for the far-right Alternative for Germany party and laying off thousands of federal workers. In recent months, Tesla stock lost billions of dollars in value for investors and sales have dropped across the world after reports of vandalism targeting Tesla-made electric cars and the Cybertruck. In Canada, Musk has won few fans following his support for Trump's suggestions of annexing Canada, with an NDP member of Parliament launching a petition calling for Musk's dual-citizenship status and Canadian passport to be revoked. Some provinces, including B.C. and Manitoba, have also said they'll remove Tesla products from EV rebates. The federal NDP has also suggested a tariff on Tesla vehicles. Hanson said he supports doing that to send a message, but he doesn't want any public ire directed at local Tesla owners. "This protest is peaceful, nonviolent [and] is 100 per cent directed at Elon Musk and his actions," Hanson said. "We don't have any issues with existing Tesla owners, the employees that work there. It's not their fault that he went full Bond villain on people, and we don't want any animosity directed at them at all." Brendan Newton was one of a few dozen protestors at the dealership. He recently moved to Saskatoon from Kentucky. "Even visiting my family is becoming harder, because what's going to happen when we go back home — is my partner going to get detained by ICE?" he said, referring to U.S. Immigration and Customs Enforcement. "[This protest] hopefully will show opposition to these kinds of policies, and show that they're not being normalized and show that Canadians and people worldwide are not going to just sit down and be OK with the rising tide of far right, even fascistic, ideologies."
Arab News
21-03-2025
- Automotive
- Arab News
In latest blow to Tesla, regulators recall nearly all Cybertrucks
US safety regulators on Thursday recalled virtually all Cybertrucks on the road, the eighth recall of the Tesla-made vehicles since deliveries to customers began just over a year ago. The National Highway Traffic Safety Administration's recall, which covers more than 46,000 Cybertrucks, warned that an exterior panel that runs along the left and right side of the windshield can detach while driving, creating a dangerous road hazard for other drivers, increasing the risk of a crash. The stainless steel strip, called a cant rail assembly, between the windshield and the roof on both sides, is bound to the truck's assembly with a structural adhesive, the NHTSA report said. The remedy uses an adhesive that's not been found to be vulnerable to 'environmental embrittlement,' the NHTSA said, and includes additional reinforcements. Tesla will replace the panel free of charge. Owner notification letters are expected to be mailed May 19, 2025. The recall of 46,096 Cybertrucks covers all 2024 and 2025 model years, manufactured from November 13, 2023, to February 27, 2025. The NHTSA order says that Tesla became aware of the problem early this year. Videos posted on social media showing people ripping the panels off of Cybertrucks with their hands have gone viral in recent days. The Cybertruck, which Tesla began delivering to buyers in late 2023, has been recalled eight times in the past 15 months for safety problems, including once in November because a fault in an electric inverter can cause the drive wheels to lose power. Last April, the futuristic-looking trucks were recalled to fix acceleration pedals that can get stuck in the interior trim. Other recalls were related to windshield wipers and the display screen. It's the latest setback for the Elon Musk-owned electric automaker, which has come under attack since President Donald Trump took office and empowered Musk to oversee a new Department of Government Efficiency that's slashing government spending. While no injuries have been reported, Tesla showrooms, vehicle lots, charging stations and privately owned cars have been targeted. Prosecutors in Colorado charged a woman last month in connection with attacks on Tesla dealerships, including Molotov cocktails thrown at vehicles and the words 'Nazi cars' spray-painted on a building. And federal agents in South Carolina last week arrested a man they say set fire to Tesla charging stations near Charleston. An agent from the Bureau of Alcohol, Tobacco, Firearms and Explosives wrote in an affidavit that authorities found writings critical of the government and DOGE in his bedroom and wallet. Even before the attacks ramped up in recent weeks, Tesla has been struggling, facing increased competition from rival electric vehicles, particularly out of China. Though largely unaffected by Thursday's recall announcement, Tesla shares have plummeted 42 percent in 2025, reflecting newfound pessimism as sales crater around the globe. With regard to Thursday's recall, Cybertruck owners may contact Tesla customer service at 1-877-798-3752 and the National Highway Traffic Safety Administration Vehicle Safety Hotline at 888-327-4236, or go to
