Latest news with #GKA
Yahoo
a day ago
- Automotive
- Yahoo
Tesla Drivers Sue Elon Musk for Turning Their Cars Into "Extreme" Right-Wing Symbols
Tesla drivers in France are suing Elon Musk's EV maker for turning their vehicles into what they characterize as "extreme-right" symbols. As news agency France 24 reports, the owners are demanding that their lease contracts be terminated and reimbursed for the accrued legal costs. "Because of Elon Musk's actions... Tesla branded vehicles have become strong political symbols and now appear to be veritable extreme-right 'totems,'" said GKA, the law firm representing the owners, in a statement, "to the dismay of those who acquired them with the sole aim of possessing an innovative and ecological vehicle." As a result, they are being prevented from "fully enjoying their car," the firm added. The suit highlights how damaging Musk's well-documented embrace of far-right ideologies has been. The mercurial CEO made two Nazi salutes during an election event earlier this year, and has appeared via video link at German and Italian far right political rallies — actions that have thrown the carmaker into chaos and car buyers running the other way. Musk's political realignment has proven immensely unpopular among consumers, causing sales of his carmaker to crater worldwide and leaving a massive dent in Tesla's finances. New Tesla registrations in Europe dropped by a stunning 53 percent last month, indicating continued and widespread disillusionment and disgust with Musk's actions. Meanwhile, frustrated owners have desperately been looking for ways to ditch their Teslas in light of a massive protest movement aimed at Musk's carmaker. Worse yet, resale values of the EVs have tanked as well, leaving owners between a rock and a hard place. Some embarrassed drivers have resorted to slapping stickers that read "I bought this before Elon went crazy" on their bumpers. The French clients who are now suing Elon Musk's carmaker argue Tesla owes them financially for all the drama and embarrassment. "The situation is both unexpected and impossible for French Tesla owners," lawyer Patrick Klugman, who's representing them, told France 24. "Musk's political positions have interrupted enjoyment" of their cars, he added, and "we believe that Mr Musk owes these buyers the peaceful possession of the thing sold." More on Tesla: You Are Completely Unprepared for What Tesla's Robotaxi Actually Looks Like
Yahoo
a day ago
- Automotive
- Yahoo
Tesla analyst makes surprise move on stock ahead of Robotaxi debut
Tesla analyst makes surprise move on stock ahead of Robotaxi debut originally appeared on TheStreet. Maybe Elon Musk should make a stop in Paris. The Tesla () chief executive and former head of the Department of Government Efficiency has been on what analysts have described as an apology tour after his much-publicized falling out with President Donald Trump. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 Musk said on his X social-media platform that he regretted some of his posts about Trump, saying "they went too far." Yeah, you could probably say that, seeing as how Musk said Trump's One Big Beautiful budget bill was a "disgusting abomination"; called for Trump to be impeached; said the president wouldn't have been elected without him; and implied that Trump's name was in Justice Department files regarding the convicted pedophile Jeffrey Epstein. In response, Trump said Musk had "lost his mind." The president threatened to cancel Musk's government contracts, which have been valued at roughly $38 billion. Musk reportedly called Trump and deleted some of his nastier posts, including the impeachment comment and the Epstein accusation. Meanwhile, a coalition of 10 Tesla owners in France is suing Tesla over Musk's former role in the White House and support of the far right in Europe, Politico reported. "They don't want to be associated anymore with Tesla or personified by Elon Musk and his recent political stances," said Ivan Terel, a partner for GKA, a Paris law firm representing the owners. GKA filed the suit in the Paris Commercial Court on Wednesday, seeking to have the vehicle leases voided and for its clients to be repaid the original cost of ownership, plus other damages. Tesla sales have tumbled across Europe after Musk spoke at a rally for the far-right Alternative for Germany (AfD) party in January, telling the crowd it was time for Germany to "move on" from its Nazi past. The remarks sparked calls to boycott the EV is all going on as Tesla gets ready to launch the long-awaited Robotaxi, the company's autonomous ride-hailing service, which Musk said is slated tentatively to begin on June 22. A Tesla Robotaxi has been spotted on Austin streets, according to a video posted on X and reshared by Musk, according to NBC News. The 10-second video showed the Tesla slowly turning left off an avenue in the state capital, as two pedestrians walk in a crosswalk just ahead. No one appeared to be in the driver's seat, but someone appeared to be in the front passenger's seat, while the rear windows were tinted, NBC said. Tesla stock has been climbing recently after Musk buried the hatchet with Trump. The company's shares are down about 19% year-to-date but up about 91% from this time in 2024. At last check on June 12 the shares were trading around $326. Investment firms have been issuing research notes on Tesla, including Piper Sandler analyst Alexander Potter. He affirmed an overweight rating with a $400 price target on the company and contended that the stock will likely sustain its upward momentum over the coming warns, however, that any high-profile robotaxi accidents would likely be met with "violent downside," according to The Fly. Wells Fargo said most of Tesla's May delivery results are now public. It noted that global deliveries once again were trending meaningfully weaker, with May trending 23% lower from a year earlier and second-quarter-to-date trending down 21%. The investment firm rates the shares underweight with a price target of $120. And JP Morgan analyst Ryan Brinkman recommended selling Tesla shares and buying stock in auto-supply companies Aptiv () and BorgWarner () . The JP Morgan analyst said he saw an opportunity in U.S. auto-supplier shares. He said they have underperformed those of the U.S. automakers since the Trump administration unveiled its tariff policy. That market weakness came even though headwinds from the Trump administration's tariffs and other regulatory changes appeared "much more benign for suppliers than for automakers," Brinkman wrote. Tesla and electric-vehicle maker Rivian () are less affected by tariffs than General Motors () and Ford () are, Brinkman said. But he also warned that planned legislative cuts to electric-vehicle subsidies could cut substantially into both EV makers' profits. Such subsidy cuts have been advancing in Congress alongside the president's actions on tariffs and subsequent trade negotiations, the analyst analyst makes surprise move on stock ahead of Robotaxi debut first appeared on TheStreet on Jun 12, 2025 This story was originally reported by TheStreet on Jun 12, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
2 days ago
- Automotive
- Miami Herald
Tesla analyst makes surprise move on stock ahead of Robotaxi debut
Maybe Elon Musk should make a stop in Paris. The Tesla (TSLA) chief executive and former head of the Department of Government Efficiency has been on what analysts have described as an apology tour after his much-publicized falling out with President Donald Trump. Don't miss the move: Subscribe to TheStreet's free daily newsletter Musk said on his X social-media platform that he regretted some of his posts about Trump, saying "they went too far." Yeah, you could probably say that, seeing as how Musk said Trump's One Big Beautiful budget bill was a "disgusting abomination"; called for Trump to be impeached; said the president wouldn't have been elected without him; and implied that Trump's name was in Justice Department files regarding the convicted pedophile Jeffrey Epstein. In response, Trump said Musk had "lost his mind." The president threatened to cancel Musk's government contracts, which have been valued at roughly $38 billion. Musk reportedly called Trump and deleted some of his nastier posts, including the impeachment comment and the Epstein a coalition of 10 Tesla owners in France is suing Tesla over Musk's former role in the White House and support of the far right in Europe, Politico reported. "They don't want to be associated anymore with Tesla or personified by Elon Musk and his recent political stances," said Ivan Terel, a partner for GKA, a Paris law firm representing the owners. GKA filed the suit in the Paris Commercial Court on Wednesday, seeking to have the vehicle leases voided and for its clients to be repaid the original cost of ownership, plus other damages. Tesla sales have tumbled across Europe after Musk spoke at a rally for the far-right Alternative for Germany (AfD) party in January, telling the crowd it was time for Germany to "move on" from its Nazi past. The remarks sparked calls to boycott the EV brand. Related: Analysts turns heads with surprise Tesla rating ahead of Robotaxi launch This is all going on as Tesla gets ready to launch the long-awaited Robotaxi, the company's autonomous ride-hailing service, which Musk said is slated tentatively to begin on June 22. A Tesla Robotaxi has been spotted on Austin streets, according to a video posted on X and reshared by Musk, according to NBC News. The 10-second video showed the Tesla slowly turning left off an avenue in the state capital, as two pedestrians walk in a crosswalk just ahead. No one appeared to be in the driver's seat, but someone appeared to be in the front passenger's seat, while the rear windows were tinted, NBC said. Tesla stock has been climbing recently after Musk buried the hatchet with Trump. The company's shares are down about 19% year-to-date but up about 91% from this time in 2024. At last check on June 12 the shares were trading around $326. Investment firms have been issuing research notes on Tesla, including Piper Sandler analyst Alexander Potter. He affirmed an overweight rating with a $400 price target on the company and contended that the stock will likely sustain its upward momentum over the coming weeks. Related: Tesla faces new challenge as leader announces exit Piper warns, however, that any high-profile robotaxi accidents would likely be met with "violent downside," according to The Fly. Wells Fargo said most of Tesla's May delivery results are now public. It noted that global deliveries once again were trending meaningfully weaker, with May trending 23% lower from a year earlier and second-quarter-to-date trending down 21%. The investment firm rates the shares underweight with a price target of $120. And JP Morgan analyst Ryan Brinkman recommended selling Tesla shares and buying stock in auto-supply companies Aptiv (APTV) and BorgWarner (BWA) . The JP Morgan analyst said he saw an opportunity in U.S. auto-supplier shares. He said they have underperformed those of the U.S. automakers since the Trump administration unveiled its tariff policy. That market weakness came even though headwinds from the Trump administration's tariffs and other regulatory changes appeared "much more benign for suppliers than for automakers," Brinkman wrote. Tesla and electric-vehicle maker Rivian (RIVN) are less affected by tariffs than General Motors (GM) and Ford (F) are, Brinkman said. But he also warned that planned legislative cuts to electric-vehicle subsidies could cut substantially into both EV makers' profits. Such subsidy cuts have been advancing in Congress alongside the president's actions on tariffs and subsequent trade negotiations, the analyst said. Related: Fund-management veteran skips emotion in investment strategy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
LeMonde
3 days ago
- Automotive
- LeMonde
French Tesla customers sue over brand becoming 'extreme right'
Around 10 French clients with leases on Teslas are suing the US carmaker, run by Elon Musk, because they consider the vehicles to be "extreme-right" symbols, the law firm representing them said on Wednesday, June 11. They feel they suffered "direct and concrete" damage from the way Teslas are now associated with "Elon Musk's actions," the GKA law firm said. They are demanding that the Paris commercial court order their lease contracts be terminated and legal costs reimbursed, it said in a statement, signed by lawyers Patrick Klugman and Ivan Terel. The lawsuit comes as Tesla sales in the European Union have almost halved since the beginning of the year, a slump attributed to Musk's political activities. Those activities include him – until last week – standing firmly with US President Donald Trump, and overseeing efforts to cut down US departments and agencies. He has also lent public support to Germany's far-right Alternative for Germany (AfD) party, and came under criticism for making a repeated gesture with an out-thrust arm interpreted by many historians to be a Nazi salute. "Because of Elon Musk's actions (...) Tesla branded vehicles have become strong political symbols and now appear to be veritable extreme-right 'totems,' to the dismay of those who acquired them with the sole aim of possessing an innovative and ecological vehicle," GKA said in a statement. The perception of the Teslas they leased "prevents them from fully enjoying their car," it said. Most of the leases run for four years, with an option at the end to buy the vehicle. Tesla cars in Europe and elsewhere have been targeted by vandals, with some drivers reporting they have been insulted for using what is sometimes called on social media a "swasti-car." Several owners have taken to putting stickers on their Teslas reading "I bought this before Elon went crazy." "The situation is both unexpected and impossible for French Tesla owners," Klugman told Agence France-Presse (AFP). "Musk's political positions have interrupted enjoyment" of the vehicles, and "we believe that Mr Musk owes these buyers the peaceful possession of the thing sold," he said. Contacted by AFP for comment, Tesla did not immediately respond.
Free Malaysia Today
3 days ago
- Automotive
- Free Malaysia Today
French Tesla drivers file lawsuit over Musk's behaviour
Elon Musk helped bankroll Donald Trump's presidential campaign. (AP pic) PARIS : A small group of Tesla owners in France is suing the carmaker run by Elon Musk, alleging its vehicles have become 'far-right totems' that are harming their reputation, the law firm representing the group said today. The group is seeking to terminate their lease contracts and recover legal costs at the Paris commercial court, citing the 'direct and concrete' harm caused by Musk's public behaviour after he rallied in support of Donald Trump's presidential bid and Germany's far-right AfD party. The group has launched the action against a backdrop of plummeting Tesla sales in core European markets including France, Britain, Germany and Italy, in some cases in protest at Musk's political activities and as customers favour Chinese electric vehicles because of their competitive prices. 'Tesla vehicles have become powerful political symbols and are now perceived as true far-right 'totems,' much to the dismay of those who purchased them solely as innovative and eco-friendly vehicles', the plaintiffs' lawyers Patrick Klugman and Ivan Terel at law firm GKA said in a statement. Tesla Europe did not immediately respond to an emailed request for comment. GKA said about 10 Tesla leaseholders had joined the lawsuit. Musk helped bankroll Trump's presidential campaign and spearheaded Trump's efforts to cut federal jobs and slash what the administration perceived as wasteful public spending. Musk's involvement in the so-called department of government efficiency (DOGE) saw him become a political lightning rod, fuelling protests and vandalism at Tesla showrooms in the US and Europe. The GKA statement referred to a hand gesture by the billionaire during Trump's inauguration celebrations that drew online comparisons to a Nazi salute as an example of his harmful behaviour. Musk dismissed the criticism of the gesture as a 'tired' attack. Musk said today he regretted some of the remarks he made on social media platform X, which he owns, during an acrimonious and very public falling out with Trump last week.
