Tesla's global sales decline amid Musk-linked controversies
New Delhi, July 5 (UNI) Tesla reported a significant fall in its sales amid tightening EV (electric vehicle) competition. The sudden decline is also attributed to CEO Elon Musk's political controversies.
This fall in sales is reported to be the organisation's biggest yearly decline, accounting for a significant reduction in its vehicle sales for the second quarter.
Seth Goldstein (Senior equity analyst at Morningstar) said, 'The market is reacting to deliveries not as bad as pointed out by some analysts who are cutting their forecasts.'
Earlier on, Musk pointed to low first-quarter sales due to the company shutting down its lines of operations and preparing for the launch of Model Y.
Moreover, Tesla remains a driving force of the EV (electric vehicle) market, apart from the launch of EVs by top manufacturers like Ford and Chevy.
Reportedly, Tesla is now focusing more on self-driving technologies and robots. The automation major has also tested its robotaxis smoothly in Austin, Texas.
UNI SAS RN
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