Tesla faces major sales problems across two important regions. Company leader Elon Musk recently fired the top executive who managed operations for North America and Europe. Omead Afshar lost his job after poor performance numbers came out for both areas. The executive had worked closely with Musk for several years before this decision. Analysts believe the firing happened because of weak sales results.
Car sales fell sharply during the first three months of the year. Some experts think Musk's political statements hurt sales numbers. Other analysts point to factory changes that slowed down production. Tesla stock lost nearly 10 percent of its value during the past month. Problems with the new robotaxi service also worried investors.
European sales data shows Tesla struggling against competitors. The company's market share fell to just 1.2 percent during May. Sales dropped by almost 28 percent compared to the same month last year. Chinese electric car makers are taking customers away from Tesla. This marks five straight months of declining European sales.
Investment firm Baird predicts Tesla will deliver 377,000 vehicles during the second quarter. This number falls short of what most analysts expected to see. The consensus estimate was nearly 393,000 vehicles for the same period. Tesla stock gained 8 percent after a robotaxi presentation on Sunday. However, shares lost almost 6 percent over the following days.
Car sales fell sharply during the first three months of the year. Some experts think Musk's political statements hurt sales numbers. Other analysts point to factory changes that slowed down production. Tesla stock lost nearly 10 percent of its value during the past month. Problems with the new robotaxi service also worried investors.
European sales data shows Tesla struggling against competitors. The company's market share fell to just 1.2 percent during May. Sales dropped by almost 28 percent compared to the same month last year. Chinese electric car makers are taking customers away from Tesla. This marks five straight months of declining European sales.
Investment firm Baird predicts Tesla will deliver 377,000 vehicles during the second quarter. This number falls short of what most analysts expected to see. The consensus estimate was nearly 393,000 vehicles for the same period. Tesla stock gained 8 percent after a robotaxi presentation on Sunday. However, shares lost almost 6 percent over the following days.
